At the same time, we are gaining additional visibility and control of a significant portion of our external expenditures.
Philadelphia, PA (Vocus) April 27, 2009
ICG Commerce, the leading procurement outsourcing specialist, today announced its new Capital and Project Sourcing Desk (CAPS Desk). The solution helps companies reduce the costs of purchases associated with critical non-recurring business projects. According to The Hackett Group, companies spend hundreds of millions of dollars on these project-driven purchases each year. Given the complexity, volatility and time-sensitive nature of these purchases, companies are rarely able to apply the combination of category expertise and sourcing rigor required to minimize cost. ICG Commerce now offers a scalable solution to fill this gap. Through the CAPS Desk, clients can access deep category expertise and market intelligence to drive significant savings in as fast as two weeks.
A recent study by The Hackett Group, which surveyed both purchasing and budget-owning business leaders, found that up to 35% of expenditures relate to one-time Marketing, IT, Corporate and Capital projects. According to the study, both purchasing and budget owners agreed that these projects are not well supported by existing procurement resources or processes, resulting in $74MM in lost savings per year for a typical Global 1000 firm.
The CAPS Desk provides access to sourcing professionals across the globe who specialize in a particular buying category (IT, Marketing, Professional Services or Capital Equipment). By leveraging market intelligence that is gathered across numerous customers, along with a rigorous but accelerated sourcing process, these experts drive savings while ensuring business needs and project timelines are met. An on-demand delivery and pricing model helps companies manage the inherent difficulty of forecasting demand and appropriately staffing to drive these cost reductions internally.
Now available on a stand-alone basis, The CAPS Desk is utilized by a number of ICG Commerce's Procurement Outsourcing customers. "The CAPS Desk enables my team to rapidly respond to business unit requests for a large piece of capital equipment or IT services. By utilizing ICG Commerce's category specialists and market intelligence, we are able to identify additional savings opportunities and help our stakeholders better manage risk," said Myron Gramelspacher, Greif's Vice President Global Sourcing and Supply Chain for Logistics and Indirects. "At the same time, we are gaining additional visibility and control of a significant portion of our external expenditures."
"Given today's challenging economy, forward-thinking companies are proactively looking for new, untapped sources of savings," said Carl Guarino, CEO of ICG Commerce. "Our CAPS Desk helps companies achieve savings and supplier performance benefits across a broader range of their spend."
To learn more, join The Hackett Group and ICG Commerce for a webcast on May 5th at 2 pm ET: http://www.icgcommerce.com/webinars
About ICG Commerce, Inc.
ICG Commerce (http://www.icgcommerce.com ) is the leading procurement outsourcing specialist delivering comprehensive source-to-pay services. Results-driven leaders access ICG Commerce's experienced resources and market intelligence to better manage procurement and logistics spend, gaining significant savings and enhanced visibility and control.
ICG Commerce is a privately held company founded in 1992 and a member of Internet Capital Group's (Nasdaq: ICGE) network of partner companies. The company has earned recognition from Forbes, Fortune, The International Association of Outsourcing Professionals (IAOP) and leading industry analysts for its leadership in procurement outsourcing. For more information: http://www.icgcommerce.com.