Proxima — See the change

Insight & opinion

 

Procurement Leaders: Does your function’s name hurt your influence?

Proxima media mention; Procurement Leaders

The debate around whether procurement is "toxic" rages on. Procurement Leaders discuss Guy Strafford's argument that procurement needs a re-brand

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Spend Matters: The future of procurement - an opportunity / threat paradox

Proxima media mention; Spend Matters

In this video, Peter Smith talks about the future of procurement, and discusses how the findings from Proxima's research could help shape this.

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Why are businesses failing to get the most out of their non-core costs? (pt 2)

Non-core costs

Part one of this three part mini-series discussed how non-core procurement is more complex, wider reaching and changes faster than most people imagine. In this post, we explore three further points, namely the necessary skills, knowledge and perspectives required to effectively manage non-core procurement.

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Why are businesses failing to get the most out of their non-core costs? (pt 1)

non-core costs

Businesses are failing to get the most out of the non-core costs. Why? Well, simply put, because procurement is failing. But the issue here is far deeper than simply pointing your finger at the team of people in procurement - in fact, we would argue, the problem lies in five very different areas, which we’ll explore below.

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Outsourcing is NOT offshoring – why procurement outsourcing needs an alternative approach

Proxima image; Guy Strafford

The procurement brand has suffered greatly over recent times, at a time when the business need for it has grown. A history of under-performance, detachment from the real business needs and an unhealthy obsession with savings have all contributed to a widespread reputational problem, that ultimately undermines the credibility of the function.

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The broken bridge between business need and business supply

Supplier Management

On average, two thirds of any business’ activities today are performed outside of their organization by third party suppliers (see this research for more detail).  And it’s a growing trend.

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Some important questions for CFOs (UK)

Hear why the conventional approach of beating up suppliers and pushing them away means there is real and untapped value sitting in companies across thousands of suppliers.

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Some important questions for business leaders (US)

Hear why the conventional approach of beating up suppliers and pushing them away means there is real and untapped value sitting in companies across thousands of suppliers.

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Proxima client success story: Cold hard proof, the refrigerator (UK)

This animation tells the story of how Proxima applied their catalytic thinking right across a major retail business and delivered hundreds of millions to their bottom line.

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Proxima client success story: Cold hard proof, the refrigerator (US)

This animation tells the story of how Proxima applied their catalytic thinking right across a major retail business and delivered hundreds of millions to their bottom line.

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Corporate virtualization - 100 years in the making

Guy-New

2013 marks 100 years since Henry Ford was faced with the dilemma of producing his latest invention, the Model T Ford, on a large scale - in an efficient, low cost way. His answer was to invent the first mass production assembly line. In doing so, Henry Ford revolutionized the world of manufacturing. Over the past 100 years, following this monumental milestone, business has changed beyond recognition.

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Today's growth is fueled more by suppliers than internal staff

Supplier Management

Today's definition of what a 'company' is varies dramatically from person to person, business to business and country to country. However, we can all agree that a company is no longer made up of just its people, its offices and its factories.

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Infographic: Ever wondered about global business’ spend patterns?

Non-core costs

Businesses around the world have been on a journey, whether deliberate or not, of cost externalization. A significant portion of any business’s revenues are now being spent outside their own organization. What was once a labor cost, is now a supplier invoice.

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Commitment Matters: Have procurement practices been self-defeating?

Proxima media mention; Commitment Matters

Tim Cummins' assessment of procurement over the last 10 or 15 years, looks at many proclaiming the birth and maturing of the ‘procurement profession’ and predicted a steady rise to ‘the top table’. But in truth, how much progress has been made?

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With so much of your business activity being done by people not on your payroll, who’s controlling the talent?

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The media sector, along with many other sectors around the world, is experiencing a shift in where talent and expertise now sits within a business...

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Critical Eye: The curious double-act of CEO-CFO

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Ladbrokes Chief Procurement Officer bets on stakeholder management

Ian-New

Supplier relationships are obviously vital to a sound procurement strategy. But for Clive Rees, Chief Procurement Officer at betting giant Ladbrokes, keeping internal stakeholders close is just as important.

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How the 'shareholder spring' should evolve

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Following on from a previous post on this topic, the Shareholder Spring should turn its attention away from executive pay, and towards an area that has a far greater opportunity to improve profitability and shareholder returns - third party costs.

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Are you adding value or just cutting costs?



In complex global business environments, it’s not easy to unify the unique skills of finance and procurement. But doing so will help aid growth and improve productivity.

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Global myths of procurement outsourcing: Myth 5 - PO means off-shoring

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This myth is partially true - and partially a myth.  The offerings of many outsourcers are about off-shoring jobs to a low cost country, e.g. India.  However, not all providers operate this way.

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The changing nature of business (pt 9): Creating a cost-conscious culture

Proxima blog

While 88% of finance leaders believe that their focus on total cost savings has increased, according to recent research, 71% of them are continuing to see indirect costs growing and labor costs shrinking. And yet headcount reductions remain a top priority for cost reductions…

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Global myths of procurement outsourcing: Myth 3 - PO damages stakeholder relationships

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Successful procurement outsourcing hinges on a provider’'s ability to successfully engage with stakeholders.  You can have the world'’s best sourcing engine, but it'’s nothing if it doesn’t engage well with the business, and deliver what the business needs.

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Global myths of procurement outsourcing: New series introduction

global-myths-of-procurement-outsourcing-v1

In this post (part 1 of our latest series), I would like to offer a simple definition of ‘'procurement outsourcing'’ and set the scene for why Finance, and other business leaders, should be placing a greater emphasis on managing their cost base.

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The changing nature of business (pt 3): Who’s really responsible for cost management?

Proxima blog

If you talk to a CFO about '‘costs'’, you'’ll be listened to.  It'’s clearly the CFO’s area of responsibility.  Yet if you talk about '‘procurement'’ to a CFO, in most cases you will get very little air time.  And yet, they'’re the same thing.  How has this situation come about?

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Understanding strategic vs tactical procurement outsourcing

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Research undertaken by Proxima & NelsonHall found that many procurement outsourcing engagements, when led by the CPO, are tactical in nature (single categories, short term, department focussed). Conversely, outsourcing engagements are far more strategic (longer term, business focussed) when the CFO or even CEO are involved.

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Powering your business through procurement outsourcing

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This whitepaper, which is the third and final whitepaper in the series, investigates outsourcing as a strategy to augment existing capability, enhance expertise and enable procurement to power your business.

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Supply Management: Profession of choice campaign

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Supply Management: Procurement profession needs more entry-level positions

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Driving Fujitsu’s growth agenda: aligning business supply with business development

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Andrew Croston (AC), Chief Procurement Officer (UK and Ireland) at Fujitsu discusses how building business-wide communication, collaboration and relationship strategies into the functions overall operations, procurement has been able to act as a true partner to finance, operations and business development teams – embedding itself into the very core of the business.

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Overcoming M&A challenges through centralisation

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Deloitte have published a high-level report, on what North America’'s top finance executives are thinking. This post takes a look at how CFOs can potentially overcome some of the growing challenges associated with new M&A activity during a sluggish economy.

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Predictions for procurement in 2022

Procurement predictions

Part of our job as a service provider is to think about the future of procurement, so that we build solutions to problems organisations don'’t know they have yet.  I want to share with you one major change we predict will occur over the next 10 years.

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A sure bet for better business at Ladbrokes

ladbrokeslogo

Clive Rees (CR), CPO of Ladbrokes (a leader in the global betting and gaming market) discusses the changing role of procurement in supporting mergers and acquisition (M&A), enhanced SRM and a much greater focus on understanding the overall business.

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Procurement outsourcing - powering business improvement

Guy-New

The rebranding process we have recently gone through has given us amazing insight into the relationships we enjoy with our clients, and I'm very thankful for everyone's support and well wishes during the change. It has also enabled us to reflect on what our clients and the wider business community want and need from a procurement outsourcing partner.

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Why businesses struggle with indirect procurement

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This whitepaper, the second in a series of three, examines why many businesses fail to drive maximum benefits and efficiencies out of their indirect expenditure.

Proxima, in conjunction with NelsonHall, ran a research study (involving 120 FTSE 100 CFOs and CPOs from UK, Europe and North America) to investigate the perceptions, attitudes and desired outcomes of Indirect Procurement to catalyse a common sense that procurement could and should play a greater role in most businesses.

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Purchasing & Supply Magazine: Redefining procurement (part 2 of 3)

Purchasing-and-Supply

Proxima discuss how far off we are from Procurement as an indispensable, strategic partner of the business.

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Redefining procurement series: Procurement outsourcing (part 4) – the marketplace

Conventional-Procurement

My previous post, in the Redefining Procurement Series, took a comparative look at the options available to business leaders for managing indirect expenditure more effectively - with outsourcing coming out as a very viable option. Today's post will quickly review the global procurement outsourcing marketplace.

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Redefining procurement series: Procurement outsourcing (part 3) – your options

Conventional-Procurement

Last week's post, in the Redefining Procurement Series, discussed why you should even consider outsourcing procurement. The post finished with the challenge most procurement teams face when looking to drive maximum efficiencies and value out of indirect expenditure. This post will take a comparative look at the options available for managing indirects effectively.

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Current perceptions of the indirect procurement function

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Proxima conducted a research study, in association with NelsonHall, involving 120 CPOs and CFOs from global FTSE 100 businesses to understand the perceptions, attitudes and desired outcomes of Indirect Procurement within business today.

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Purchasing and Supply Magazine: Redefining procurement (Part 1 of 3)

Purchasing-and-Supply

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Outsource Magazine: Optimal procurement outsourcing

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Procurement outsourcing, which has been predicted for many years to take off, is finally moving into the mainstream. More and more large organisations are waking up to the fact that significant improvements to the bottom line are possible through improved management of non-core or indirect expenditure (otherwise known as GNFR in the retail sector). As top-line growth is hard to come by in the current economic climate, the opportunity is simply too good to ignore. Read the top ten tips to consider when embarking on your procurement BPO journey.

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Supply Management: Indirect procurement is ‘a sexy place to be’

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European Business Review: Outsourcing, debunking the myths and unveiling the realities

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Proxima explains that there are firmly entrenched misconceptions that surround outsourcing, and they are holding many companies back from maximising the potential benefits from this fundamentally important tool.

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Redefining procurement series: Procurement outsourcing (part 1) - overview

Conventional-Procurement

My most recent post in the Redefining Procurement Series talked about how outsourcing has risen to be a key element in how businesses operate today. I will now discuss one specific type of outsourcing - Procurement outsourcing, (also known as Procurement BPO).

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Procurement research excerpt: Current management of indirect spend

Guy-New

Following our latest Enhancing and Redefining the Role of Indirect Procurement research study, I will be commenting on various snippets taken directly from the research.

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Translating the benefits of procurement for internal stakeholders at BP (part 2)

bplogo

The first part of our interview with Andrew Collopy [AC], Global Procurement Director, Downstream at BP concluded with a discussion around communicating the benefits of procurement internally and reducing stakeholder scepticism. Part two continues the internal validation conversation plus looks at how procurement can breakaway from it's typecast as a tactical buyer.

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Redefining procurement series: Outsourcing

Conventional-Procurement

We are quickly approaching the end of our Redefining Procurement Series, with the final chapter focussing on Procurement Outsourcing. Today's post aims to set the scene for the subsequent posts in the final chapter.

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Pragmatic procurement at WPP (part 2)

WPP-logo

In the first part of our interview Tom Kinnaird [TK], Head of Commercial and Procurement Service at WPP concluded with a lengthy discussion around talent management. We now delve deeper into the procurement life cycle, stakeholder engagement and being seen as a value adding operation.

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Spend Matters: Procurement outsourcing (4 part series)

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Spend Matters: Outsourcing’s role in procurement’s journey towards the heart of business

Spendmatters300

Proxima give a high level glimpse into the journey procurement is embarking on in today's business - and the role outsourcing will play.

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Turning the traditional BPO model on its head

Guy-New

A lesson in customer experience and the rise of near-shoring.

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