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“Know what you want” and “demand full transparency” are the among the golden rules for successful procurement outsourcing set out by Efficio in its latest Viewpoint article.

The author, Efficio Vice President Luisella Chiesa, says many companies who have outsourced management of their procurement to a specialist outsourcing provider are left feeling they have closed a bad deal.

This is often because certain key issues have not been taken into account, including the need to be sure exactly how much of the procurement process is to be outsourced.

It is also crucial to gain full visibility of the spend concerned before embarking on the outsourcing project. Without this, says Efficio, it is impossible to know what the savings may be.

Full transparency must be demanded from the outsourcing service provider. It is not a “nice to have” but a “must” in assessing the value to be gained from such a deal.

Another golden rule says companies should keep contracts with suppliers in-house - rather than allowing an outsourcing provider to take them over - to enable evaluation and full benchmarking of the costs involved and savings achieved.

The Viewpoint concludes: “Outsourcing is often a difficult area to get right and has been, in many cases, heavily weighted towards the service provider. However, it does not have to be this way and the key is to know your spend, be fully aware of the terms and conditions, ensure you have full transparency and be prepared to monitor.”

ends

Notes to editors

The Five Golden Rules of Successful Procurement Outsourcing can be downloaded from the Efficio website (www.efficioconsulting.com) at:

www.efficioconsulting.com/files/viewpoint/outsourcing_-_the_...

About Efficio

Efficio is a results-focused procurement consultancy with a track record of helping leading organisations achieve more value from their procurement. Comprised of experienced professionals with a blue-chip consultancy heritage, Efficio combines the credentials of a top tier firm with the depth of expertise of a flexible niche player. Clients include 3i, AstraZeneca, Barclays, BAT, Biffa, Deutsche Post, Ford, Goldman Sachs, HBOS, KKR, Nokia, National Grid, O2, Philips and Thames Water.

For more information please contact:

Mark Whitehead at Headline Media on:
+44 (0)20 8348 3103
+44(0)7906 720141 (mobile)
markwhitehead@headlinemedia.co.uk

This press release was distributed by ResponseSource Press Release Wire on behalf of Efficio in the following categories: Business & Finance, for more information visit https://pressreleasewire.responsesource.com/about.