The procurement function is increasingly recognized as a strategic enabler, addressing cost optimization, adapting to changing customer needs, and fostering collaboration with adjacent functions such as supply chain and finance and accounting. In 2024, procurement organizations have expressed intent to accelerate digital investments, integrating best-of-breed solutions such as autonomous sourcing tools, intake management, procurement orchestration, chatbots, and supplier management tools into their existing technology stacks. These solutions, powered by AI/ML and generative AI, drive process efficiency, assist decision-making, embed intelligent automation, enhance use experiences, and streamline workflows, while empowering procurement practitioners. Apart from technology providers, service providers are also digitally transforming procurement through S2P platforms, integration tools, and point solutions alongside managed services and advisory focused on enabling procurement transformation. Due to economic uncertainty and slower buyer decision-making, the Procurement Outsourcing (PO) market experienced muted growth in 2023, with potential for resurgence in 2024-25 as first-generation enterprises engage with providers and existing buyers expand scope to include upstream procurement. This research provides comprehensive coverage of the PO market, analyzing regional/industry variations, buyer adoption trends, and growth drivers. It is relevant for stakeholders interested in creating agile and resilient procurement functions with differentiated capabilities, including new buyers / parent organizations exploring procurement outsourcing, providers, and industry influencers such as investors and industry bodies. Scope All industries and geographies Contents In this report, we examine: Procurement challenges and digital imperatives Emerging procurement technologies beyond suites Role of providers as partners in digital evolution PO market overview and adoption trends Key buyer adoption trends Membership(s) Procurement and Supply Chain Sourcing and Vendor Management

The Procurement Outsourcing (PO) Services – Provider Compendium 2024 offers comprehensive, fact-based profiles of leading PO service providers. The report highlights their service offerings, scale of operations, technology solutions, delivery locations, and recent developments. This report helps providers benchmark their capabilities against their peers and empowers buyers to assess whether providers’ offerings align with their requirements. Scope All industries and geographies Contents Each service provider profile includes the following: Service suite and scale of operations: key leaders, service suite, FTEs, revenue, recent developments, and partnerships Delivery locations: city-level details of key delivery locations worldwide Capabilities and clients: major engagements, revenue split by geography and industry, and the number of clients by buyer size Technology solutions: key technology solutions’ brief descriptions Everest Group assessment: the provider’s position on the Everest Group PEAK Matrix® framework, market share and delivery capability assessment, and provider capabilities’ evaluation Membership(s) Procurement and Supply Chain Sourcing and Vendor Management

Procurement Outsourcing (PO) providers support procurement organizations' transformation initiatives by helping streamline processes, drive digital adoption, and incorporate best practices. Providers are aligning their offerings to meet enterprise requirements to provide a comprehensive digital ecosystem comprising advanced technology solutions, including generative AI, end-to-end platforms, best-of-breed suites, and contextualized analytics and automation point solutions through their in-house investments and partnerships. With increased enterprise willingness to seek support in upstream procurement areas such as sourcing and category management, providers are also enhancing their sourcing and category expertise across indirect spend and specific direct spend categories. The evolving PO provider landscape comprises a spectrum of providers, including specialist providers, pure-play procurement and SCM-focused providers, broad-based BPS providers, and IT and BPS providers. In this research, we assess 24 PO providers featured on the PO Services PEAK Matrix® Assessment 2024. Each assessment provides a comprehensive picture of the provider’s market success, vision and strategy, service focus and capabilities, digital and technological solutions, domain investments, and buyer feedback to assist buyers in making sourcing decisions. With PO engagements’ continued extension in upstream procurement areas, we also asses 22 PO providers on their Source-to-Contract (S2C) capabilities and feature them on the S2C Services PEAK Matrix Assessment® 2024. Scope All industries and geographies The assessment is based on Everest Group’s annual RFI process for the calendar year 2024, interactions with leading procurement service providers, client reference checks, and an ongoing analysis of the PO services market Contents This report includes: PO Services PEAK Matrix® Assessment 2024 S2C Services PEAK Matrix® Assessment 2024 Key insights into PEAK Matrix® dimensions Strengths and limitations of individual providers Enterprise sourcing considerations Overview of top PO providers across geographies and industries, along with their respective market shares Membership(s) Procurement and Supply Chain Sourcing and Vendor Management

Enterprises are striving to streamline their sourcing processes to enhance efficiencies and optimize value, and integrating AI-driven automation can significantly aid these efforts. Autonomous gen AI-powered sourcing tools have made it possible to improve sourcing activities through their capabilities to create content, generate insights, and enhance stakeholder relationships. Enterprises are increasingly interested in fully automating sourcing processes using these tools, which can automate supplier identification and qualification, sourcing event preparation, event administration, supplier evaluation, negotiation, and selection. The market offers many solutions, including best-of-breed tools and comprehensive source-to-pay and source-to-contract suite providers. These solutions offer varying levels of customizability and configurability and, thus, capabilities and functionality. However, enterprises often face challenges in navigating this vast landscape to select, implement, and optimize these solutions effectively. In this report, we examine autonomous sourcing technology solutions and share detailed provider profiles, analyzing their capabilities and solutions across sourcing activities. The report is vital for stakeholders seeking to optimize their sourcing activities through AI and gen AI, including new buyers / parent organizations exploring sourcing activities’ digitalization, autonomous sourcing technology providers, service providers, and industry influencers, such as investors and industry bodies. Scope All industries and geographies This research leverages our interactions with 12 leading autonomous sourcing technology providers worldwide Contents In this report, we examine: Adoption drivers for AI-driven sourcing tools Autonomous and AI-driven sourcing overview and technology provider landscape, as well as provider profiles Best-in-class capabilities across sourcing activities Membership(s) Procurement and Supply Chain Sourcing and Vendor Management

Amid ongoing economic uncertainties and cost pressures, enterprises are evolving their Procurement Outsourcing (PO) engagements to optimize value, enhance RoI, and achieve improved outcomes. Providers and enterprises are collaborating to bridge the gap between expected and delivered value by understanding and aligning on desired outcomes throughout the procurement value chain. Value drivers along the Source-to-Pay (S2P) value chain vary based on the nature of processes and their strategic importance. Additionally, the nature and volume of spend, as well as the categories outsourced, impact these value drivers. There is a notable increase in the adoption of innovative pricing models that offer greater flexibility, enable risk/reward sharing, and incentivize better performance to drive desired outcomes. In 2022, the PO market grew significantly as providers expanded their scope into strategic procurement areas and improved penetration across various regions and industries. However, starting early in 2023, prevailing economic uncertainties slowed buyer decision-making, resulting in growth moderation. Despite this, decent growth is anticipated as enterprises seek support from providers to navigate uncertainties and manage costs. This research provides comprehensive coverage of the PO market, analyzing it across aspects such as regional/industry variations, buyer adoption trends, and growth drivers. The report will be relevant for stakeholders interested in establishing agile and resilient procurement functions with differentiated capabilities. This includes new buyers / parent organizations exploring procurement outsourcing, service providers, and industry influencers such as investors and industry bodies. Scope All industries and geographies This research leverages our interactions with 23+ leading PO service providers worldwide Contents This report examines: Value from PO function Capturing value through innovative pricing constructs PO market overview and adoption trends Key buyer adoption trends Membership(s) Procurement and Supply Chain Sourcing and Vendor Management

Procurement Outsourcing (PO) – Service Provider Compendium provides accurate, comprehensive, and fact-based snapshots of 22 providers, including their scale of operations, technology solutions, and delivery locations, along with Everest Group’s PEAK Matrix® service provider assessment. The compendium also examines the global PO operations service provider landscape. The study will enable current and potential buyers of PO operations to assess the providers on their areas of strength and limitations based on desired capabilities. Scope All industries and geographies Contents This report features 22 PO provider profiles and includes: Service suite and scale of operations: key leaders, service suite, FTEs, revenue, recent developments, and partnerships Delivery locations: city-level detail of key delivery locations worldwide Capabilities and clients: major engagements, revenue split by geography and industry, and number of clients by buyer size Technology solutions: brief descriptions of key technology solutions Everest Group assessment: providers’ position on the Everest Group PEAK Matrix®, market share and delivery capability assessment, and overall evaluation of provider capabilities Membership(s) Procurement and Supply Chain Sourcing and Vendor Management

Procurement Outsourcing (PO) providers are seen as strategic partners by organizations and are playing a critical role in helping them navigate the challenges posed by macroeconomic uncertainties and inflationary pressures by driving cost reduction and enhancing efficiencies. With increasing willingness to outsource judgment intensive strategic procurement processes, service providers are building strong domain expertise and digital transformation capabilities to drive value acceleration for organizations. Service providers are offering a comprehensive procurement digital ecosystem with advanced technology capabilities comprising end-to-end platform solutions, best-of-breed suites, and point solutions by leveraging in-house capabilities, partnership ecosystems, and targeted investments. Leading providers are also investing in developing capabilities and solutions in emerging areas such as sustainability, risk management, and direct spend management. In this research, we present detailed assessments of 23 PO providers featured on the PO Services PEAK Matrix® Assessment 2023. Each assessment provides a comprehensive picture of the provider’s market success, vision and strategy, service focus and capabilities, digital and technological solutions, domain investments, and buyer feedback to assist buyers in making sourcing decisions. Given the increased extension of PO engagements in upstream procurement areas, we have also assessed 21 of these PO providers on their Source-to-Contract (S2C) capability and featured them on the S2C Services PEAK Matrix Assessment® 2023. Scope All industries and geographies The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading procurement service providers, client reference checks, and an ongoing analysis of the PO services market Contents This report examines: PO Services PEAK Matrix® Assessment 2023 S2C Services PEAK Matrix® Assessment 2023 Key insights into PEAK Matrix® dimensions Strengths and limitations of individual providers Enterprise sourcing considerations Overview of top PO providers across geographies and industries, along with their respective market shares Membership(s) Procurement and Supply Chain Sourcing and Vendor Management

Challenges such as cost pressures, ESG compliance requirements, impending recession, digital transformation requirements, and supply chain disruptions are driving sourcing to embrace modern, digitized, and value-focused approaches, in addition to the function’s more traditional cost-saving responsibilities. To serve this need, providers are constantly developing their procurement capabilities to help organizations transition to modern sourcing. Increased willingness among buyers to engage with providers to support sourcing operations is one of the key drivers of the Procurement Outsourcing (PO) market, which grew at a steady rate of 10-12% to reach US$3.9 billion in 2021. This research provides comprehensive coverage of the PO market and analyzes it across aspects such as regional/industry variations, buyer adoption trends, growth drivers, and the provider landscape. The report will be relevant for stakeholders interested in creating agile and resilient procurement function with differentiated capabilities, including new buyers / parent organizations exploring procurement outsourcing, service providers, and industry influencers such as investors and industry bodies. Scope All industries and geographies This research leverages our interactions with 21+ leading PO service providers across the globe Contents In this research, we study: Evolution of sourcing Role of outsourcing to enable modern sourcing PO market overview Key buyer adoption trends PO service provider landscape Membership(s) Procurement and Supply Chain Sourcing and Vendor Management

Procurement Outsourcing (PO) – Service Provider Compendium provides accurate, comprehensive, and fact-based snapshots of 21 providers, including their scale of operations, technology solutions, and delivery locations, along with Everest Group’s PEAK Matrix® service provider assessment. The compendium also sheds light on the global PO operations service provider landscape. The study will enable current and potential buyers of PO operations to assess the providers on their areas of strength and limitations based on desired capabilities. Scope Industries and geographies Contents Each provider profile captures the following PO-related details: Service suite and scale of operations: key leaders, service suite, FTEs, revenue, recent developments, and partnerships Delivery locations: city-level detail of key delivery locations worldwide Capabilities and clients: major engagements, revenue split by geography and industry, and number of clients by buyer size Technology solutions: brief descriptions of key technology solutions Everest Group assessment: service provider’s position on the Everest Group PEAK Matrix®, market share and delivery capability assessment, and overall evaluation of provider capabilities Membership(s) Procurement and Supply Chain Sourcing and Vendor Management

Procurement Outsourcing (PO) engagements shifting to improving outcomes and covering more judgment-intensive and strategic processes across the Source-to-Pay (S2P) value chain. Providers are helping companies transform their procurement operations and drive the adoption of advanced digital technologies, such as advanced analytics and intelligent automation, by leveraging in-house capabilities, partnership ecosystems, and targeted investments. Providers are also developing capabilities in emerging areas such as Environment, Social, and Governance (ESG) initiatives, risk management, and direct spend management. In this research, we present detailed assessments of 21 PO service providers featured on the PO Services PEAK Matrix®Assessment 2022. Each assessment provides a comprehensive picture of the provider’s market success, vision and strategy, service focus and capabilities, digital and technological solutions, domain investments, and buyer feedback to assist buyers in making the right sourcing decisions.  Scope All industries and geographies The assessment is based on Everest Group’s annual RFI process for the calendar year 2022, interactions with leading procurement service providers, client reference checks, and an ongoing analysis of the PO services market Contents This report features: PO Services PEAK Matrix® Assessment 2022 Key insights into PEAK Matrix® dimensions Strengths and limitations of the service providers evaluated Enterprise sourcing considerations Overview of top PO providers across geographies and industries, along with their respective market shares Membership(s) Procurement and Supply Chain Sourcing and Vendor Management