With global enterprises facing, perhaps, the strongest recessionary headwinds in a lifetime, Chief Procurement Officers (CPOs) and other procurement leaders will be forced to do even more with even less over the next 12 to 18 months. While desperate times may call for desperate measures, a majority of procurement departments need only take a "back-to-basics" approach to uncover huge reserves of potential savings. Consider: one quarter of all enterprises today do not have a formal spend analysis program; and of those that do, more than half fail to link the output of their spend analysis with their strategic sourcing efforts. As the key findings in this report will show, developing or enhancing a spend analysis program and closing process gaps to ensure tight linkage to the sourcing process are straightforward and practical ways to attain greater savings and deliver greater value in this period of uncertainty and strict budgets.