Togetherness, terms & transparency: the post-COVID reality – July 2020
Togetherness, terms and transparency: the post-COVID procurement reality – July 2020
According to a recent survey with over 650 global financial leaders by Coupa Software that was published this week in Supply Management, more than two-thirds (70%) of companies plan to contain costs by making broad or department-focused cuts over the next 12 months. The majority of respondents (87%) believed a recession is likely, and more than half (53%) expect it to last six months or longer with many firms believing that they are unprepared to manage their spend in a recession. UK respondents were the most pessimistic about the potential length of a recession, with 34% believing it will last more than a year, compared to 21% globally.
Clients will be looking across their whole spend base as we leave lockdown to see where …