Benchmarking the Procurement Benchmarkers – An Insider’s Guide (Part 1) [PRO]

Here at Spend Matters, we’ve been on a bit of a Procurement Performance Measurement kick lately. We started with a three-part series on A.T. Kearney’s ROSMA metric, and then we did a three-part series on improving procurement scorecards, which was then followed up by a deep dive on Implementation Considerations in Quantifying and Tracking Hard Cost Savings. One of the things that we mentioned a few times was the importance of linking external benchmarks into a procurement scorecard – and that we would follow up with a piece on procurement benchmarking firms. And so here we are. Before jumping into procurement benchmarking solutions in the market, it is critical to highlight the perhaps obvious statement to that you should know why you are benchmarking before you start looking for providers.

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