ICG Commerce launches rebrand

Rebrand includes changing name to Procurian, introduction of "The New Procurement"

February 17, 2012
by Purchasingb2b

PHILADELPHIA: ICG Commerce has changed its name to Procurian and sharpened its strategic focus around a standard of excellence called The New Procurement. The company said its re-brand better projects a specialized focus on its long-standing commitment to the purchasing field. According to the six principles of The New Procurement, procurement departments must:

  • Address 100 percent of spend globally;
  • Support sustainability and corporate social responsibility objective;
  • Apply real-time market intelligence;
  • Deliver realized savings and continuously optimize spend;
  • Enable agility and mitigate risk; and
  • Fuel new sources of growth.

“Our clients represent The New Procurement—a new standard of excellence that aligns procurement with business strategies to support growth and drive sustainable savings,” said Saurabh Gupta, VP, Everest Group. “They collaborate with us to specifically define the principles of The New Procurement as they continue to leverage our specialized procurement infrastructure to completely change the way their organization views this area of its business and achieve greater results on an accelerated basis.”

The principles call for a shift in the way companies manage spending, particularly indirect spending. Recognizing its impact on the organization’s overall performance and growth, The New Procurement calls for the commitment of the C-suite to work in tandem with its procurement team to implement and execute against this new standard. Procureian said the principles challenge companies to optimize 100 percent of their spend globally by applying real-time market intelligence. It further demands Fortune 1000 companies not only negotiate, but deliver continuous cost innovations while supporting strategic objectives like sustainability and growth.