5 Questions

3 Mins

Procurement Impact Self Assessment

Compare your procurement processes to the global market - and how impactful you are, or could be, on your business.

What You Get:

Your Procurement Maturity Level and Score

Your impact on your business in 8 key areas

Personalized, practical advice on how to reach the next level

Maturity Today

The current state of Procurement Process Maturity

Procurement’s impact on a business can be dramatic - but isn’t always.

Businesses with the most advanced procurement teams perform on average 29% better in compliance, speed to market and budget control.

Take the assessment and find out if you are one of the top 18%

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Question 1

Which statement best describes your intake process for new contracts/suppliers?

We don’t have an intake process.

Requests are received ad hoc and in inconsistent formats.

Departments handle their own procurement requests. Procurement oversees with multiple tools.

All intake requests come through a standard ‘portal’ or ticketing solution, managed centrally by procurement across multiple tools.

Intake is centrally managed, with custom intake forms by dept or request type, with automated criteria for pre-approvals and company policies.

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Question 2

Which statement best describes your approach to procurement request routing?

Our process is manual, unstructured and non-formalized.

We have a manual, auditable process, approved by core stakeholders.

We have a mostly centralized process, inclusive of all approval departments (finance, legal, infosec) managed across email and departmental tools.

We manage approvals in real-time across multiple systems. We can route any that need compliance review to relevant stakeholders.

Approvals can be intelligently re-assigned to next best person. Robust integration with electronic signature tool for successful requests.

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Did you know?

Businesses with intelligent intake and routing are 29% faster to market than those with manual processes.

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Question 3

Which statement best describes your wider organization’s attitude to minimizing overspend?

We don’t have a formalized procurement process.

Employees often bypass procurement processes to manage suppliers directly.

We have formalized procurement processes in place, with spend tracking and rules for when to use an AP process or company card.

We have company procurement policies in place, including vendor management, negotiation training and real-time insights.

There is company-wide adoption of mandated procurement policies, including approval processes. Procurement is accountable for policy adherence and budget compliance. Next-to-no maverick spending.

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Did you know?

The businesses where procurement has created the most cost-aware cultures are 25% more in control of their cash flow, and 23% better at operating within budgets.

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Question 4

Which of the following best describes how audit and compliance is integrated into procurement processes?

Most of our procurement has no legal or compliance review and there is little regard for how Personally Identifiable Information (PII) is handled.

We have legal review for certain spend thresholds, and some case-by-case review by infosec / compliance teams.

We have a formal legal and infosec / compliance approval matrix.

We have formal legal and infosec / compliance review policies and high confidence in adherence to regulatory requirements.

Intake forms automatically pre-approve or reject requests based on internal policies and external regulations. Relevant compliance stakeholders are automatically added to workflows. Processes vary by regional regulations, and suppliers are held to our SLAs, not theirs.

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Question 5

Which of the following best describes your process for managing suppliers and benchmarking prices?

Supplier relationships are transactional and we have no access to price benchmarking data.

Beginning to use supplier performance metrics, and procurements uses its own experience to benchmark prices.

We actively consult our networks for price benchmarks and supplier intel, and we have a dedicated Supplier Relationship Management role.

We collaborate closely with suppliers and solve problems jointly, and invest in pricing insights from third parties (e.g. Gartner, Forrester or NPI)

SRM is fully integrated into the procurement strategy. Pricing is checked in real-time against external data, and price targets are automatically given to request approvers at intake.

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