The company increased staff size to 171 from 75 and launched its Procurement Center of Excellence consulting service last year within the manufacturing industry and the multifamily REIT marketplace. FacilityPro CEO Larry Hall credits the firm's core procurement business process outsourcing services for the record revenue volume.
"While we continued to build upon our procurement leadership position within the commercial real estate industry, we successfully transitioned our business into a procurement outsourcing company during the year much more rapidly than we had anticipated," Hall says in a prepared statement.
He anticipates no slowdown in demand for his company's services in 2003. "We believe that procurement outsourcing is on the verge of dramatic growth and that we are well-positioned to service market demand," Hall says. FacilityPro's basic services consist of expenditure analysis, strategic sourcing, compliance management and material logistics and planning.
Hall says national industry analysts such as Aberdeen estimated the procurement BPO market to increase at a compound annual growth rate of 19.3% over the next few years to $9.7 billion in 2005, up from $4.8 billion in 2001.
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