Facing increasing economic uncertainty and the costs of ever-growing regulatory burdens, business leaders today must look inside their organizations to drive profitability and growth for a competitive advantage. The first step in this effort is to identify which spend processes to optimize by benchmarking current performance levels against leaders’ performance.
In this chapter highlight from Coupa’s annual benchmark report, we look at 3 KPIs across the source-to-contract process to gauge your organization’s progress and optimize your spend strategy. You can ensure the most value at all stages of the source-to-contract process by increasing structured spend, enforcing contract compliance, and targeting tail spend.
Whether your team is sourcing indirect goods, direct materials, professional services, or for other needs, you can strategically enhance to your sourcing strategy, allowing you to deliver unprecedented business agility that gives you a competitive advantage and supports your business growth.