HCMWorks Releases Indirect Services Procurement Study Report

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HCMWorks, Inc. a leading provider of indirect services procurement solutions, announced two new releases in their The Roadmap to Success White Paper Series. The first is a report on the findings from a survey of procurement executives undertaken in the fourth quarter of 2009 entitled, “Survey Results: Indirect Services Procurement.” The second paper, entitled “The Total Cost of Productivity: Discover the New Frontier of Indirect Services Spend” expresses the need for real visibility to create a sustainable effort when looking at indirect services expenditures.

HCMWorks, Inc. a leading provider of indirect services procurement solutions, announced two new releases in their The Roadmap to Success White Paper Series. The first is a report on the findings from a survey of procurement executives undertaken in the fourth quarter of 2009 entitled, “Survey Results: Indirect Services Procurement.”

HCMWorks elected to survey the procurement marketplace for two fundamental reasons:

1)    To determine if the trend toward greater visibility into indirect services expenditures for corporations is growing

2)    To determine how indirect services expenditures are perceived within organizations

Ted Weyn, managing partner for HCMWorks, found the results to be consistent with his own analysis of the marketplace over the last 12 months. “Our field studies have shown that executives hope to accomplish three key objectives from analyzing their indirect services expenditures: greater visibility, rapid savings, and sustainability in processes and results.”

Many respondents recognized and affirmed the value of better management of indirect services, which confirms a trend Weyn and his organization have seen over the past few years. Weyn continued, “The management of indirect services is a relatively untapped area of opportunity compared to returns seen from direct expenditures. Due to the economic downturn, many companies have now turned their attention to indirect services. We believe there are substantial savings available to companies who take the time to investigate their expenditures within indirect services categories.”

“The market is seeing large companies begin to demonstrate tangible results from their efforts within indirect services. Companies like Estee Lauder and Heinz have demonstrated dramatic results concerning their indirect service expenditures, resulting in material savings and positive EPS increases,“ concluded Steven Winokur, president of Turning Point Strategies.

Weyn hopes to conduct a similar study near the end of 2010 to further analyze the trends in indirect services.

The second paper, entitled “The Total Cost of Productivity: Discover the New Frontier of Indirect Services Spend” expresses the need for real visibility to create a sustainable effort when looking at indirect services expenditures. The paper goes on to discuss the concept of Total Cost of Productivity and the importance of its measurement.

Both papers are available directly from HCMWorks. If you’d like to request a copy, please visit http://www.hcmworks.com/contact.

About HCMWorks, Inc.
HCMWorks is a leading North American consulting and advisory firm that specializes in Indirect Services Procurement. HCMWorks helps procurement departments gain greater control over indirect service expenditures to gain a competitive advantage in their industry. Their proprietary four-step V2H methodology provides a substantial reduction in indirect operating costs through transactional visibility, ultimately delivering an extremely rapid ROI. For more information, please visit http://www.hcmworks.com or call 866-547-1645.

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Ted Weyn
HCMWorks, Inc.
866-547-1645 ext. 110
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Tara Lamboley
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