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by Beth Stackpole, Contributing Editor Posted on Wednesday, January 26, 2005 10:46:00 AM   | Abstract: | Study shows online purchasing is helping companies achieve long-promised cost savings and contract compliance. |
Long considered the poster application of the Internet bust, e-procurement is quietly making inroads in enterprises large and small, helping them reduce operating costs and save money on indirect materials, while improving compliance with negotiated contracts and increasing the total spend under management. Those are the key findings of the recent "Eprocurement Benchmark Report", produced by market researcher Aberdeen Group (Boston). The 147 primarily North American companies participating in the 2004 benchmark, on average, said e-procurement systems helped them to: - reduce off-contract or maverick spending by 64 percent;
- cut costs by 7.3 percent for spend that was brought back onto contract;
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