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IT PROCUREMENT: Value redefined, delivered and protected 


In Chapter 1 (Value redefined, delivered and protected) of the Deloitte Global Chief Procurement Officer Survey 2021 (Agility: The antidote to complexity) there are three highlighted points related to CPO priorities in 2021 that resonate with us here at Markit. 

  1. Driving operational efficiency is the top priority for CPOs. ​​​​​​​​​​​​​​For the first time in the survey’s 10-year history “reducing costs” does not take the number one slot. At Markit we are noticing this too as more and more multinationals are choosing to buy their IT hardware and accessories through the Markit marketplace due to significant time savings involved in sourcing and purchasing. As a result, Markit is growing faster than ever, with expansion to seven new countries scheduled this year

  2. Digital transformation’s importance continues to grow. 20% up on the data from last survey (2019) and now considered a “strong priority” for 48% of CPOs. At Markit we see higher demand for punchout and other system integrations and an increasing shift of companies in all sectors towards online sourcing, comparing and buying instead of emailing traditional tender/RFP enquiries. 

  3. Corporate Social Responsibility (CSR) saw the largest increase of any CPO priority since 2019 (up 22%). High performing CPOs X3 more like to be formally measured on it. CSR is now regularly discussed at board level and there is wider recognition that spend, if managed well, can do societal good. At Markit, one clear indicator of this is a significant upswing in eco-rated product purchasing by our clients.  Overall, eco-labelled products represented 5.85% of total Markit sales in 2020. In H1, 2021 it was 8.67%. TCO Certified products are the fastest growing category – 51,000 sold in H1 2021, up 103% compared to H1 2020. 

The evidence is clear: The average number of priorities that CPOs are reporting and being measured on, is increasing, as is the overall relative importance of each. 

And the Deloitte report also confirms that the recent growth in complexity, risk and the need for external innovation (including deeper supplier relationships) may have finally opened the door for procurement’s arrival as a true strategic partner. 

Markit is saving time and money for high performing CPOs and IT buyers in hundreds of multinationals and thousands of international companies in 37 countries. 

Useful Links 

Optimising time savings in indirect IT procurement (free report) 

Markit eco-filters for IT purchasing 

TCO Certified 

Deloitte 2021 CPO Survey (Agility: The antidote to complexity)  

Markit client success stories