Employee payroll records are the records of all payments that an employer makes to an…
Procurement Outsourcing Services in Including Category and Contract Management with Strategic Sourcing in Bangladesh
In the real world, we’ve found that clients don’t have cookie-cutter issues, so we don’t use one when helping them meet their procurement objectives.
PayrollBD provides clients a flexible set of procurement outsourcing options, custom configured to meet their specific needs. From end-to-end procurement outsourcing to point solutions like category management, strategic sourcing and procurement operations, we get you more bang for your buck.
The Global Procurement Outsourcing Services Market size was estimated at USD 2,390.89 million in 2020 and expected to reach USD 2,706.48 million 2021, at a CAGR 13.63% to reach USD 5,849.01 million by 2027.
- Procurement outsourcing saves you money by preventing duplicate spending, leveraging volume buying, and saving you costs associated with paper-based systems
- Electronically conducting your procurement makes it easier to write and analyze reports on your procurement systems
- With Procurement outsourcing , everything can be saved and stored electronically.
What is Procurement BPO?
The procurement process is essential for all businesses. Whether it’s direct procurement (such as purchasing of materials or other goods and services for final product) or indirect procurement (such as purchasing of office equipment, utilities or marketing activities), all types of procurement processes require a relatively large amount of labour, time, and money.
In other words, Procurement outsourcing BPO is a third-party service to take care all the businesses’ needs during the procurement process, from identifying suitable suppliers all the way to the integrated supply chain management.
Key Benefits of Procurement BPO: Cost Reduction, Efficiency and Better Resources Allocation
- Businesses who outsource their Procurement outsourcing processes can better allocate their resources and put more focus on their core business operations.
- Procurement BPO service providers can often bring purchasing expertise, while cutting down spending on projects that are not normally supported by in-house procurement teams.
- By using a Procurement outsourcing BPO service, companies can cut down on vendor spending and save cost on hiring full-time employees with the same expertise.
- procurement outsourcing companies can also help to save time and improve efficiencies, due to their scalability, flexibility, and management capability.
Global Procurement Outsourcing Market Overview
According to the latest report from SpendEge, the global procurement business process outsourcing (BPO) market size (in terms of category spend) will grow by USD 4.32 billion from 2018 to 2022, registering a strong CAGR of over 17% during the forecast periods. The recent market trends have seen the growing adoption of automating BPO operations in the global procurement process, which allows service providers to significantly improve their sustainability in the market.