Anyone looking for evidence to back up the suggestion that when the going gets tough procurement get outsourcing, only need take a look at the latest figures from ICG Commerce.

The procurement outsourcing specialist yesterday announced record growth in 2007 and grew revenues by 30 per cent for a third successive year.

These figures, recorded at a time when margins are being squeezed almost by unprecedented levels, come after a study by Everest Research Group, claimed that procurement outsourcing delivers five times the savings of the outsourcing of other areas such IT and finance and accounting.

Small wonder that ICG are gearing up for an even busier 2008.