Since 2013, Los Angeles-based company ProcurementIQ, a leading independent provider of procurement research and market intelligence, has offered procurement professionals a suite of products and services that make purchasing activities easier. Covering more than 1,000 categories, ProcurementIQ’s ecosystem of market intelligence tools and reports helps procurement teams increase speed to market, engage with stakeholders, improve vendor management, and achieve cost avoidance goals.
As of March 31, 2022, ProcurementIQ now offers 200 additional market intelligence reports for the European market. Adding to the vast collection of US and Canadian reports, ProcurementIQ is now taking a more global approach to provide insights on the second-largest economy in the world.
The new collection of European Procurement Reports covers the top 200 categories by popularity and comes in response to an increasing trend toward globalization and managing spend globally. ProcurementIQ serves many international organizations and North American operators that source internationally. To support the challenges of interdependent supply chains and managing spend globally, category intelligence on key European markets is now available.
With a subscription to the European collection, you can gain access to a range of features, including:
Buyer Power Score
- A classic feature in traditional ProcurementIQ reports, the buyer power scores in the European collection allow you to quickly assess your position in the market so you can strategically time your purchases using a five-year trend that spans past and present.
- When major events impact the buying process in your market, ProcurementIQ’s analysts assess the level of impact immediately and recalculate buyer power to reflect the current situation in Europe.
Market Pricing
- ProcurementIQ’s unbiased pricing data helps you compare average prices across Europe against suppliers’ price quotes. Subscribers can view average prices at the pan-European level or drill down by country for more specific national pricing.
- By bringing third-party data to the bargaining table, you can keep suppliers honest and get the price you deserve.
Price Drivers
- Insight into the historical and forecast performance of key cost drivers and macroeconomic demand factors helps you understand what influences prices in the European market.
- When cost increase requests arise, you can use price driver data to justify or invalidate suppliers’ requests.
Top Suppliers
- ProcurementIQ identifies the top 10 operators in the market so you can build your list of preferred European suppliers.
- With insight into market share, revenue, risk, and other factors, you can choose the suppliers that best serve your sourcing goals.
ESG Trends
- Understand how providers in the market approach environmental, social, and governance (ESG) factors. For each factor, we identify the current level of influence and the opportunity level to help you set more realistic, sustainable, and socially responsible sourcing goals.
Vendor Management Tools
- Key contract clauses help protect your business against undue harm by outlining fair conditions for contracts and incorporating best practices for structuring contracts in the European marketplace.
- KPIs provide you with metrics to continually evaluate the performance of your suppliers to ensure you are receiving optimal product and service quality.
- SLAs help you establish the most favorable contract conditions, even when there is little ability to negotiate on prices.
The European collection follows the same format of ProcurementIQ’s recently updated US collection, delivering actionable insights and data through concise and compelling data visuals, tables, and key takeaways. In growing beyond North America, ProcurementIQ brings a more holistic category intelligence solution to clients that operate internationally.
If you’re interested in learning more about the European Procurement collection, contact your ProcurementIQ Client Relationship Manager or submit an inquiry here.
About ProcurementIQ
Recognized as a trusted and independent source of procurement research, ProcurementIQ offers a comprehensive library of data and analysis on over 1,000 categories. With an extensive online portfolio valued for its depth and scope, ProcurementIQ equips procurement professionals with the insight necessary to make better, faster purchasing decisions. ProcurementIQ is a division of IBISWorld and serves a wide range of public and private organizations from its US headquarters in Los Angeles.
