This SIG member from the buy-side is innovating how they report success when measuring spend under management.
This member's objective is to look beyond simpler metrics that, for instance, relates the existence of a contract with spend as the existence of a contract does not necessarily reflect spend that was actively managed by Procurement (i.e., stakeholder engages Procurement late, the contract is addressed, but Procurement was not engaged in the sourcing and hence the spend was not managed or influenced).
They are struggling with how to measure spend under management in a more meaningful way without a lot of manual intervention in the preparation of such reporting.
Will you please spend a few minutes describing how your organization captures and reports on Spend Under Management, specifically your metric(s)?
To the extent you have achieved a meaningful measure of Spend Under Management, how have you automated that reporting and did you do something special/additional in your tools to achieve that level of automation in your reporting?