Philadelphia—Feb. 16, 2012—ICG Commerce announced major company rebranding initiatives, with a name change to Procurian Inc. and a strategic focus around an elevated standard of excellence called “The New Procurement.” This new name better projects a specialized focus on and long-standing commitment to procurement. The broader evolution of the company’s focus reflects the market’s growing demand for a proven approach to realizing sustainable cost savings in order to fuel growth and innovation.
Indirect spend has emerged as an area ready for transformation. Historically, many companies have overlooked the magnitude of indirect spending, not realizing that it can add up to 30 percent of overall revenue.
“Optimizing indirect spending provides an avenue to create a direct bottom-line impact while also improving processes and better enabling strategic objectives,” said Saurabh Gupta, Vice President, Everest Group, Dallas. “We continue to see an increase in sourcing-focused contracts with third-party procurement providers, driven by the need for companies to achieve significant savings on an accelerated basis. And we expect to see these contracts expand to include elements that ensure compliance and sustainability of savings.”
Procurian leverages its Specialized Procurement Infrastructure to help Fortune 1000 companies advance procurement to meet global demands and drive cost-efficient innovation and growth. It provides clients access to all the components necessary to optimize indirect spend, including a dedicated team of specialists with deep category expertise; real-time market intelligence; comprehensive processes; and a sophisticated set of proprietary tools and technology.
“Our clients represent The New Procurement—a new standard of excellence that that aligns procurement with business strategies to support growth and drive sustainable savings,” explained Carl Guarino, Chief Executive Officer, Procurian. “They collaborated with us to specifically define the principles of The New Procurement as they continue to leverage our Specialized Procurement Infrastructure to change the way their organization views this area of its business and achieve greater results on an accelerated basis. We’re excited to be a key part of this transformation,” Guarino concluded.