Outsourcing, or Business Process Outsourcing (BPO), is at the top of many corporate agendas in today's economy. With a focus on core competencies, more and more companies are outsourcing human resources, IT, procurement and other key business functions in order to reduce fixed costs, streamline and improve performance.

Procurement plays a central role in any outsourcing agreement. From selecting an outsourcing provider to negotiating the final contract, procurement must understand every aspect of the deal and its financial impact on the organisation.

Understanding the needs of the client

Their issues range from delivering cost savings to the bottom line; sourcing effectively from low cost regions; working together with suppliers to deliver value for the longer term through to developing talent within the procurement team. These challenges are often intensified by addressing them in complex, international, multi-functional environments.