Download the Procurement Metrics That Matter Report
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Discover the untapped metrics the highest performing procurement leaders rely on to make the smartest decisions.
Certain departments or individuals may keep delaying purchases with slow approvals
By uncovering department-specific approval times, procurement teams can:
- Leverage the data to make stakeholders prioritize procurement requests better
- Identify issues across the stakeholder approval process
- Improve stakeholder buy-in
Stakeholders may be being asked too late, too early and without the right information. Fix these issues and approval speed, plus internal procurement reputation, increases.
Highlights procurement as a value-driver, and serves as the ‘North Star’ for departmental improvement
Modern procurement teams use their ROI metrics to justify:
- Further investment in the department (spend management software, procurement orchestration tools, and RFP automation).
- Supporting talent development
- Investigating process and workflows inefficiencies
They can also set data-driven goals such as reducing turnaround times or improving supplier relationships.
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