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
The global multi-process Finance and Accounting Outsourcing (FAO) market continued to grow at a steady rate of roughly 10% in 2021 despite surging inflation, recessionary headwinds, and geopolitical instability. The volatility that enterprises faced…
