IT PROCUREMENT: Value redefined, delivered and protected 

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. 

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. 

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.