The quantitative findings presented in this report are based on an online survey conducted by the Economist Intelligence Unit (EIU) in November 2009. Ernst & Young commissioned the EIU to conduct the survey and write this report. A total of 365 senior procurement and IT executives from a broad range of industries participated in the survey, of whom 50% were C-suite or above. Roughly 33% were based in Europe, 36% in North and Latin America, 27% in the Asia-Pacific region and the remaining 4% coming from the Middle East and Africa. Participants also represented a wide cross-section of company sizes, with 58% having annual revenue of over US$5m, and 20% with revenue of over US$5b per year. In addition to the online survey, nine executives were interviewed on the record for this report. We would like to thank everyone who participated in the research for their valuable contributions.