ISG REPORT: SINGAPORE, MALAYSIA ENTERPRISES SET TO MAKE MAJOR PROCUREMENT CHANGES

KUALA LUMPUR, April 6 (Bernama) -- Enterprises in Singapore and Malaysia are on the verge of making major changes to their procurement operations that, in some instances, were long overdue, according to a new research report published by Information Services Group (ISG), a leading global technology research and advisory firm.

The 2022 ISG Provider Lens™ Procurement BPO and Transformation Services report for Singapore and Malaysia finds a growing appetite for these services after the COVID-19 pandemic intensified pressure on enterprises in the two countries to optimise their procurement functions.

The cumulative effects of lockdowns, border closings, restrictions on movement, remote work requirements and increased risk have changed the region’s procurement market significantly since early 2020, the report says in a statement.

Because the procurement market in these countries had been relatively stable before the pandemic, there was limited growth in the skills needed to compete, ISG says.

For example, many enterprises still do purchasing manually and use disparate procurement systems operating in silos, so decision-making is slow. Now, the race is on to make procurement more efficient and sustainable.

The balance of demand for services is different in Singapore and Malaysia than in other regions, the report says. Enterprises should consider engaging with service providers to carry out digital transformations of their procurement operations to achieve measurable business outcomes.

The report also examines the growing demand for centralisation, standardisation and other initiatives by Singaporean and Malaysian enterprises preparing for the new era in procurement.

Enterprise chief procurement officers and sourcing and vendor management professionals can use the report to optimise transactional procurement, plan strategic sourcing and better understand the service provider landscape in the region.

The 2022 ISG Provider Lens™ Procurement BPO and Transformation Services report for Singapore and Malaysia evaluates the capabilities of 16 providers across two quadrants: BPO Services and Digital Transformation Services.

The report names Accenture, GEP, IBM and Infosys as Leaders in both quadrants and Genpact as a Leader in one quadrant. In addition, DXC Technology and WNS Denali are named as Rising Stars – companies with a “promising portfolio” and “high future potential” by ISG’s definition – in one quadrant each.

More details at www.isg-one.com.

-- BERNAMA