The Rise of Procurement and the Fall of Profits: Winning in Procurement-Led Buying Processes

I’ve always believed that the amount of profit earned by a privately owned company could be kept confidential, except for IRS eyes, if the owner/s wanted it that way. This confidentiality principle certainly should apply to PR agencies, unless the enterprise is one of the large public multinationals. Over the past few years, that’s been changing for many PR agencies, especially those dealing with large corporate clients. It’s called “procurement” (or “cost cutting” in a big way).