Metrics that Matter Report

Download the Procurement Metrics That Matter Report

Discover the untapped metrics the highest performing procurement leaders rely on to make the smartest decisions.

What You Will Learn: The 11 untapped procurement metrics that only the top 1 in 6 procurement leaders track - and why they are so crucial to boosting procurement's strategic performance.

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Metrics that Matter Report

Approval Times

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.

Certain departments or individuals may keep delaying purchases with slow approvals

Procurement team value vs cost

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.