PITTSBURGH, April 13, 2011 /PRNewswire/ -- CombineNet, Inc., the leading provider of advanced sourcing technology, in conjunction with Aberdeen Group, today announced the results of Aberdeen's 2011 State of Strategic Sourcing Research Report, "Building a Context for the Next Decade." Co-sponsored by CombineNet, the study reveals that formal strategic sourcing functions will play a greater role in the enterprise, and it also clearly illustrates that there is tremendous opportunity for companies to drive better results by increasing their adoption and utilization of e-sourcing and optimization-based sourcing analytics technologies.
Citing survey results from more than 315 global companies in three categories of performance (Best-in-Class, Average and Laggards), the top three strategic pressures were identified as increased cost savings (60%), improved sourcing performance (40%), and mitigating overall sourcing risks (32%).
The Aberdeen study shows that Best-in-Class companies are 30% more likely to leverage e-sourcing technologies, like those offered by CombineNet, and attribute the following significant advantages over their peers based on the use of such tools: 57% lower rate of savings leakage; 72% higher rate of procurement contract compliance; and 37%% higher rate of spend under management.
Christopher J. Dwyer, Aberdeen Group Research Analyst/Global Supply Management and co-author of the report, said, "Our research in this new report finds that best-in-class companies are 30% more likely to utilize e-sourcing products to automate the facets of the strategic sourcing process, which expands opportunities for cost savings and taps new supply opportunities to better meet unique corporate requirements. E-sourcing technology providers like CombineNet offer solutions proven to drive measurable improvements."
"What we find compelling in the report is that there remains significant opportunity for companies across all performance rankings to gain more advantage through the adoption of e-sourcing and optimization-based sourcing technologies," commented Rich Wilson, President and COO of CombineNet. "The findings reinforce CombineNet's mission to provide a best-of-breed advanced sourcing solution to improve the way organizations source their entire range of spend categories. Our offering gives users a heightened advantage in the challenge areas identified in the Aberdeen report, which are to drive more savings, increase standardization and collaboration, and reduce savings leakage."
To access the Aberdeen report, please visit: http://www.aberdeen.com/link/sponsor.asp?spid=30410238&cid=6863
CombineNet, Inc. is the advanced sourcing technology company. CombineNet's ASAP product (Advanced Sourcing Application Platform) is an optimization-driven Software as a Service (SaaS) solution that helps customers deliver the absolute best total cost of goods and services based on their unique business needs. CombineNet ASAP is used to speed, simplify, and centralize the sourcing of any and all spend categories from global suppliers: direct and indirect materials, all modes of transportation, and services. In the past 10 years, CombineNet has delivered more than $6 billion in bottom-line savings for businesses worldwide including General Mills, PepsiCo, Procter & Gamble, Bayer, Sears, Johnson & Johnson, and many more across all industries. For more information, visit www.combinenet.com.
SOURCE CombineNet, Inc.