The complex category of print / print services management is an area of spend that has, over the past five years, become a hot commodity that demands procurement attention. Aberdeen has historically quantified printed and marketing materials spending as 5% to 7% of the average company’s revenue, and with the millions of dollars commandeered for these materials and services, companies must utilize superior management tactics to ensure a premier balance between quality and cost.
Recent Aberdeen research has found that companies who leverage strategic sourcing processes and programs for their printed materials and services spending have gleaned a variety of procurement-focused benefits. In fact, enterprises utilizing strategic sourcing for this complex category have:
- Driven a realized savings rate that is nearly 50% higher than companies not currently leveraging strategic sourcing for print
- Achieved a 44% higher rate of purchasing compliance, and;
- Are 21% more likely than companies not leveraging strategic sourcing print to have visibility into aggregate spending.
The various processes in the print / marketing materials / services cycle (which can include anything from design to outreach to due diligence) are all critical factors in ensuring that this complex arena of corporate spend is tackled with sales and revenue in mind. The purchasing angle of this cycle (supplier management) must be strategically managed to not only increase the value of print, but also to drive continual process improvements and reduce the time and cost aspects of this significant area of spend.
Aberdeen will publish a benchmark study focused on the print category in January 2011. However, I will be unveiling blog posts along the way, as well as other additional research pieces.