Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

Laser Focus World Membership

Never miss any articles, videos, podcasts, or webinars by signing up for membership access to Laser Focus World online. You can manage your preferences all in one place—and provide our editorial team with your valued feedback.

Magazine Subscription

Can you subscribe to receive our print issue for free? Yes, you sure can!

Newsletter Subscription

Laser Focus World newsletter subscription is free to qualified professionals:

The Daily Beam

Showcases the newest content from Laser Focus World, including photonics- and optics-based applications, components, research, and trends. (Daily)

Product Watch

The latest in products within the photonics industry. (9x per year)

Bio & Life Sciences Product Watch

The latest in products within the biophotonics industry. (4x per year)

Laser Processing Product Watch

The latest in products within the laser processing industry. (3x per year)

Get Published!

If you’d like to write an article for us, reach out with a short pitch to Sally Cole Johnson: [email protected]. We love to hear from you.

Photonics Hot List

Laser Focus World produces a video newscast that gives a peek into what’s happening in the world of photonics.

Following the Photons: A Photonics Podcast

Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

The Hackett Group® Finds Major Gains From AI-Driven Procurement Outsourcing Services

Intelligent procurement outsourcing services drive a 46% increase in sourcing efficiency and automation, and a 23% improvement in purchase cost savings and cost avoidance

The Hackett Group, Inc. (NASDAQ: HCKT), a leading generative artificial intelligence (Gen AI) consultancy and executive advisory firm, has released its latest Digital World Class® Matrix, focusing on the procurement outsourcing services marketplace. Procurement outsourcing service providers are delivering new capabilities and advanced technologies to help their clients navigate an increasingly volatile, uncertain, and complex global business environment.

Procurement organizations are facing enormous internal and external headwinds from increasing workloads, evolving global compliance requirements, governmental policy uncertainty, and increasing expectations from business stakeholders. These forces, coupled with the explosion of new generative and agentic AI solutions, compel procurement executives to take a critical look at their operating model design, strategic partners, and service placement options.

The Procurement Outsourcing Services Digital World Class® Matrix provides an in-depth guide to some of the most notable procurement outsourcing providers, including how the vendor services are aligned to meet the critical needs of procurement, information technology, and global business services leaders. The report evaluated 15 providers for their capabilities and value delivered to clients based on vendor briefings and extensive customer interviews across 16 different criteria.

Capability ratings assess a vendor’s capacity to provide procurement outsourcing services across critical operational areas, including procurement data management, intake management, requisition and purchase order (PO) processing, sourcing execution, and invoice processing. It also includes core service capabilities, including the ability to support global complexity, service breadth, infrastructure, quality and compliance, analytics, and enabling technologies.

Value realization ratings assess a vendor’s impact to key metrics covering transition and migration services, transformation capabilities, automation and efficiency, service experience, service value, and overall satisfaction and business value to the organization.

In this mature but evolving marketplace, adopters of procurement outsourcing services are realizing very tangible benefits across a variety of key metrics. End users report an average 52% improvement in procurement data management automation; a 57% average improvement in intake management, requisition and PO processing efficiency; a 23% average improvement in purchase cost savings and cost avoidance; and an 83% overall satisfaction rating for service experience and value.

Leading procurement outsourcing services expertly handle global complexities, providing a comprehensive range of solutions supported by strong infrastructure and reliable assistance. Their well-established methodologies for quality, risk management, and compliance ensure consistency and efficiency in operations.

They also leverage advanced AI, Gen AI and data intelligence to optimize process performance. They enhance operations through intelligent data cleansing, policy and compliance automation, autonomous orchestration, and digital assistants. Additionally, they provide tools for cycle-time optimization, category management, market intelligence, autonomous sourcing and advanced analytics – including conversational reporting – ensuring efficiency and strategic decision-making.

“The thoughtful integration of procurement outsourcing services into the overall procurement service delivery model provides companies significant flexibility, scalability and rapid adoption of leading-edge, AI-enabled technologies,” said Richard Gardner, senior director of Market Intelligence at The Hackett Group®. “Although procurement organizations have traditionally limited outsourcing usage to low-risk purchasing processes, the providers in this study showcase the differentiated value they can deliver to a broad scope of complex purchasing requirements.”

By using this comprehensive analysis, procurement professionals can make informed outsourcing decisions aligned with their strategic priorities and business value drivers.

Procurement Outsourcing Services Digital World Class® assessments are part of The Hackett Group’s full 59-page report. Digital World Class® assessments should be read in the context of the entire report. Download a complimentary summary of the procurement outsourcing research with registration. Contact us for inquiries about purchasing the full research report.

The Hackett Group® does not endorse any participant, vendor, product or service depicted in its research. This research should not be considered as advice that a buyer select only those participants based on their ranking or position on the Digital World Class® Matrix. You should not rely upon any material or information within this research as a basis for making any business, legal, financial or any other decisions. Any such reliance shall be solely at buyer’s risk. The Hackett Group® research publications consist of the opinions of its research organization and should not be interpreted as factual statements. To the fullest extent permitted by law, The Hackett Group® disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability, suitability or fitness for a particular purpose. The information contained in this research is provided on an “as-is” basis with no guarantees of completeness, accuracy, usefulness or timeliness. The Hackett Group® assumes no responsibility or liability for damages of any kind arising from any information, data, content, materials, or references within its research, including but not limited to direct, indirect, incidental, consequential, special, and punitive damages.

About The Hackett Group®

The Hackett Group, Inc. (NASDAQ: HCKT) is an IP and platform-based, Gen AI strategic consulting and executive advisory firm that enables Digital World Class® performance. Using AI XPLR™ and ZBrain™ – our ideation through implementation platforms – our experienced professionals help organizations realize the power of Gen AI and achieve quantifiable, breakthrough results, allowing us to be key architects of their Gen AI journey.

Our expertise is grounded in unparalleled best practices insights from benchmarking the world’s leading businesses – including 97% of the Dow Jones Industrials, 90% of the Fortune 100, 70% of the DAX 40 and 51% of the FTSE 100. Visit us at www.thehackettgroup.com.

Trademarks

The Hackett Group®, quadrant logo, and Digital World Class® are the registered marks of The Hackett Group®.

Cautionary Statement Regarding “Forward-Looking” Statements

This release contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements including without limitation, words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” or other similar phrases or variations of such words or similar expressions indicating, present or future anticipated or expected occurrences or outcomes are intended to identify such forward-looking statements. Forward-looking statements are not statements of historical fact and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. Factors that may impact such forward-looking statements include without limitation, the ability of The Hackett Group® to effectively market its digital transformation, our ability to transition our capabilities to support generative artificial intelligence (AI)-related consulting services and solutions and other consulting services, our ability to effectively integrate acquisitions into our operations, our ability to manage joint ventures and successfully cooperate with our joint venture partners, competition from other consulting and technology companies that may have or develop in the future, similar offerings, the commercial viability of The Hackett Group® and its services as well as other risk detailed in The Hackett Group’s reports filed with the United States Securities and Exchange Commission. The Hackett Group® does not undertake any duty to update this release or any forward-looking statements contained herein.

"The thoughtful integration of procurement outsourcing services into the overall procurement service delivery model provides companies significant flexibility, scalability and rapid adoption of leading-edge, AI-enabled technologies"

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.