A world-wide study of more than 450 procurement organizations revealed interesting trends on key performance indicators for corporate processes and technologies to manage indirect spending.
Presented in two-parts, part 1 of the study threw light on factors influencing and controlling indirect spend and the current P2P landscape.
Part 2 of the study takes a more granular look at performance through various pieces of the end-to-end P2P process and also at success rates that companies are experiencing with P2P technology implementations and user adoption.
Some of the key findings include;
On average, some 72% of indirect purchase orders are properly approved and some 67% of purchase orders are accurate on first pass.
Some 61% or more of indirect spend POs are classified correctly to spend taxonomy, that leaves the other half coping with substantially weaker classification performance.