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15 July 2014 | Paul Snell
More than half of CPOs claim they need up to five employees to analyse their procurement spend, according to a survey.
A poll of 67 procurement leaders in the UK found 57 per cent said they required two to five members of staff to prepare the data, and create the resulting reports.
In addition, 36 per cent spend more than a day a month collating data from various sources, and 29 per cent have to allocate a full or half-day of staff time to the task.
Once collected, 28 per cent of teams spend more than a day classifying or categorising this data.
“It’s clear that organisations spend too much time on preparing data than actually analysing the insights they’ve been hired to act on,” said Hugh Cox, chief data officer at Rosslyn Analytics. "Ineffective decision-making must stop if procurement teams are to turn lost business opportunities into greater savings.”