The need for a new approach to complex, global supply ecosystems
Customers are punishing companies they no longer trust. Research conducted by Proxima revealed that 45% of consumers would stop spending with a company whose supplier practices were called into question.
accountingWEB: Five tips for more effective budgeting
For many businesses the budgeting and planning process, although laborious, is critical for the success of the business in the coming year. Proxima's Guy Strafford offers five tips for a more effective budgeting strategy; to encourage spend effectiveness and boost efficiency and competitiveness.
Supply Management: How to drive better commercial outcomes from digital marketing
Proxima's John Butcher explains to Supply Management that the secret is out – up to 60 per cent of digital marketing spend is wasted and, as a result, failing to deliver the promised return on investment.
realbusiness: Five strategies to maximise your budgeting process
The budgeting and planning process, although often laborious and time consuming, is one of the most critical activities of the year. Proxima's Guy Strafford gives five strategies to maximise the effectiveness of your budgeting process.
Aligning your procurement mindset to the growth agenda
Growth is back on the agenda. Actually, in an increasingly lumpy economy, for many businesses it never went away, despite the vicissitudes of national and regional economies. (“Vicissitudes”? Well, the UK grew robustly in Q4 2014, then posted its slowest GDP gains for three years in Q1 2015…) And with the ongoing prevalence of risk in many markets, we’re in a period where organisations want to expand, but just don’t seem ready to invest, spend and grow in the way that macroeconomic data suggests they should.
New study suggests American consumers intend to punish companies involved in supplier-driven scandals
NEW YORK, NY and London, UK – May 14, 2015 – A newly published survey suggests that companies who are not actively monitoring the business practices of their suppliers, or who are engaged in questionable supplier practices themselves, are placing their reputations and their balance sheets in harm’s way.
Creating growth opportunities through smarter supply chain strategies
It’s election time. All over the place, actually. General election fever/exhaustion (delete as applicable) is dominating headlines in the UK. And with Hilary Clinton, Marco Rubio and Rand Paul (among others) declaring their 2016 presidential ambitions in the US; and Le Pen family squabbles in the run-up to France’s regional polls, democracy is headline news all over the world.
As key indicators of market growth point skywards and business confidence increases, boards are looking to align every aspect of their business to the wider growth agenda. But, for many of these companies, not all of their internal functions are able to shift their sights from defence to offence at the same time (or at all, in some cases). This creates a disconnect between the board’s ambition and the operational reality – a common source of frustration for many senior executives.
Proxima secures $40m in new contracts and sees significant growth in procurement consultancy services
LONDON, UK and CHICAGO, IL – February 23, 2015 – Proxima, a leading international procurement services provider, announced today that the company has kicked off the year by securing $40 million in new contracts and has increased its spend under management by a further $1.5 billion. Additionally, the company is turning its attention to growing its procurement consultancy services in response to demand from clients who are continuing to recognize the contributory value of procurement operations to corporate profitability and overall organizational health.
It’s always fashionable to muse on the parlous state of capitalism. Seven years ago, it was all broken: financial services run wild had all-but-destroyed our way of life. Four years ago, the Occupy neo-hippies were camping out to find something – anything – as an alternative to the broken promises of the market. A year-and-a-half ago? Thomas Piketty’s algorithmic tear-down of the balance between capital and economic growth.
The traditional way to explain the role of an auditor is that they’re a watchdog, not a bloodhound. They keep an eye on what’s happening, sit up when something looks suspicious and occasionally bark when they see something dodgy. The job is explicitly not turning over every rock they can find to test ethics or legality - no bloodhounds chasing the bad guys through the woods here.
Audit services: Four reasons why it pays to be a first mover
During the original dot-com boom, the idea of first mover advantage gained massive currency. Staking out a digital domain before anyone else showed up was considered the best way to guarantee success – gaining mindshare, customers, and above all, experience and personnel that would be denied your rivals.
Infographic: Accountants warn on audit market reforms
When analysing the current FTSE 350’s use of audit services, our research highlights the impact of the Competition and Markets Authority’s reform on the UK audit market – finding that there is more happening under the surface than meets the eye...
Spend Matters: Proxima Ebook proposes some solutions to the procurement dilemma
Spend Matters' reviews, in part 2, Proxima's Ebook which outlines solutions to the procurement dilemma. It is not all about cost savings but changing internal behaviour, demand management, innovation and growth.
Spend Matters: Proxima asks – are businesses drowning or waving when it comes to procurement and managing suppliers?
Spend Matters' highlights Proxima's Ebook which takes the idea of an organisation as an island and business executives fishing in deeper and deeper waters to find the “fish” (the suppliers in this analogy) to help their businesses succeed.
By now you will already be familiar with our corporate virtualization research, showing that the average company now spends around 70% of its revenues with suppliers. But what does it mean for your business, and how can you uncover the opportunities that this trend encourages?
The headline on a capital markets report looking at bond yields was worrying: “Canary in the coalmine”. Canaries were useful to miners because, although small, they sing sweetly until they get a whiff of gas and then they abruptly stop singing. The miners say a short prayer for the little bird, then get out as fast as they can.
Whilst the Deloitte list highlights some of the important issues, we’ve reached out to our own network (of client teams and readers) and come up with five additional issues that are most likely to make their way to the top of the CFO’s agenda over the second half of 2014.
At Proxima, an essential part of our work is making sure our finger is on the pulse of opinion and sentiment in our clients’ markets. It means that our advice and strategic development work is contextualised correctly within the environments in which our clients operate, which in turn enables us to find the best solutions to their challenges.
Proxima launches study into scope for change through supply chain management
LONDON, UK and CHICAGO, IL - June 23, 2014 – Proxima, the world’s largest pure-play procurement outsourcing and services provider, has today launched a new study that seeks to establish how supplier engagement can change the way that businesses operate.
One world, one business model – the impact of globalization
We were chatting to a management thinker the other day – a former CFO, as it happens – and he said something so compelling, yet so simple, that we were stunned. “The problem with the runaway success of MBA schools is that we’re developing a global corporate monoculture,” he said. “We’re concentrating risk in similar places around the world.”
It’s striking how many CFOs count leadership of a cost saving programme as a major part of their role. There’s nothing wrong with making procurement more efficient and streamlining the cost base, of course. But the best finance functions treat it as part of their commercial contribution, not a traditional bit of hard-nosed accounting.
Panel session to discuss HBR article; Corporate Virtualization
Following on from our recent Harvard Business Review coverage, we’d like to invite you to join us for an online panel session – discussing practical perspectives and pragmatic insights into the trend of Corporate Virtualization.
The European Food & Beverage Market is in a state of turmoil. Increasingly regular headlines are being published around deficiencies in quality standards and growing contamination cases. The reputation and financial damage of these headlines can be critical for any business operating in an already tumultuous industry (as discussed in my previous post).
New research shows that a growing number of corporates are refocusing their procurement functions away from cost and towards strategic innovation. A sure sign that corporate management's attitudes towards procurement are shifting. (We discuss this further in our webinar). But are the smart ones just copying the companies that have always understood that this is a key source of value?
Harvard Business Review recognizes today's leaders cannot afford to downplay procurement
We are pleased to bring you the news that Proxima’s research and thinking on how commerce has evolved, and the implications for modern corporations, is now being recognized at the highest level globally.
Real Business: We need to talk about your suppliers
Proxima's Guy Strafford talks to Real Business about how your suppliers could hold the key to better performance this year, and why it's time to start thinking about better management of the supplier base.
Benefits for media & entertainment companies from better supply management
With the average media & entertainment business spending twice as much on suppliers than on its own people, we thought we would share some of our industry insights on the benefits of successfully getting your suppliers under control and offer a real life example of this happening at leading video game publisher – Activision Blizzard.
As the global economic recovery gathers pace, more and more businesses are turning their sights from cost reduction to growth. How well an organization’s procurement team supports this shift will materially impact overall business performance.
Any accountant will tell you that more businesses go bust in the recovery from a downturn than in the recession itself. A big reason for this is poor risk management – because managers think they can stop worrying. They can’t.
Business has changed - driven by globalization, technology and changing consumer habits. Executives have had to rapidly adapt their business models, products, and distribution channels in response to these groundswell changes. But the implications of these unstoppable forces don’t stop there. Another impact is that suppliers today are providing an ever-increasing proportion of business activities, many of which used to be delivered by direct employees and internal operations.
Sourcing Interests Group: The definition of a "company" has changed
"Corporate virtualization" is sweeping across the global economy, transforming the ‘company’ from what it was – to what it is today, a comprehensive and complex universe of specialist third-party suppliers who are critical but sit outside the organization and all across the planet.