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Overview: According to The Hackett Group, three in four companies have failed to drive enough SG&A reductions to offset declining revenues. Facing increased pressure for cost reductions, IT leaders from companies like Whirlpool, Kimberly-Clark and Hertz are responding by gaining greater control over project expenditures – a large but largely under-managed area of spending.
According to a recent performance study, IT organizations typically "self-source" these purchases (e.g., custom software applications, one-time hardware purchases, consulting services, network appliances, etc.) due to the lack of capacity and specialized IT expertise within the Procurement department. As a result, IT resources are taken away from core business activities, and a rigorous sourcing process is typically not applied – leaving tens of millions of savings and additional value on the table.
View this on-demand webcast with Honorio Padrón of the Hackett Group and Carl Guarino of ICG Commerce to find out how IT leaders are aggressively managing these purchases, through access to market intelligence and improved spend visibility, and contributing significant cost savings to the business.
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