The HFS Horizons: S2P Service Providers, 2024 examines 11 service providers’ capabilities across the HFS definition of the sourcing and procurement value chain, based on a range of dimensions to understand the Why, What, How, and So What of their service offerings. We categorized the service providers across 3 horizons:
Horizon 3 Market Leaders are creating new sources of value for their procurement clients
Horizon 2 Enterprise Innovators are driving strong business outcomes through end-to-end S2P transformation across the enterprise
Horizon 1 Disruptors are driving cost and efficiency impact through functional transformation The report focuses on multi-year third-party services (outsourcing and managed services) and does not include short-term sourcing or procurement projects.
Procurement outsourcing and managed services empower procurement functions with the “flexibility” needed to fulfill its strategic expectations. Beyond operational cost reduction, endto- end S2P outsourcing is driving significant benefits to drive tangible spend deflation, especially for non-core categories.
Despite the strong value proposition, the scope of procurement outsourcing continues to be siloed and piecemeal. While delivery capabilities are robust, the S2P outsourcing service provider community needs to up its game on strategic thinking, talent management, and agility to realize the promise of third-party procurement services.
Note: All service providers within a Horizon are listed alphabetically.
Source: HFS Research, 2024
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