SAP SE announced 5 & 5 by ’25, a corporate initiative targeting five per cent of addressable spend* with social enterprises and with diverse businesses by 2025. In setting this target, SAP aims to inspire organizations around the world to buy more goods and services from purposeful suppliers, making a positive collective impact on the societies they operate in.
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According to the World Bank, global procurement spend in 2019 was at least USD 14 trillion. By directing even just a small fraction of this spend to certified social enterprises and diverse businesses, organizations have the power to tackle some of the world’s most pressing social and environmental problems.
Based on early pilots in select markets, SAP estimates it could direct up to USD 60 million of its addressable global spend per year to social enterprises and diverse suppliers by 2025. Among DAX companies, this figure is estimated at approximately EUR 2.5 billion, and across U.S. Fortune 500 companies up to USD 25 billion.
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SAP Executive Board member for Customer Success and recently appointed Global Buy Social Ambassador for Social Enterprise UK Adaire Fox-Martin announced the 5 & 5 by ’25 initiative at SAP’s Procurement Reimagined event in Singapore. “Every company in every industry needs to procure,” Fox-Martin said. “We all need soap in our washrooms, landscaping for our offices, food and drink in our cafeterias, marketing services and office supplies. These and many more are all products and services provided by social enterprises and diverse businesses. This is money we are spending anyway. Why not spend it with suppliers who are delivering social impact as well?”
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