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In recent times, misunderstandings about why, when and what to outsource have increased in the procurement outsourcing (PO) space, creating gaps between customer expectations and actual outcomes. While the success of outsourcing initiatives is partly driven by a service provider's performance, Genpact' s long experience with enabling more effective sourcing and procurement functions has taught us that the absence of a clear procurement strategy and unrealistic customer expectations can also adversely impact business outcomes. Our insights into seven common myths help power a more "intelligent enterprise" one that achieves better business outcomes by applying proven best practices that set correct expectations and bring about increased success in procurement outsourcing initiatives.
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