Procurement Performance Management
Our Procurement Performance Management offers a holistic solution that combines the tracking of KPIs, the implementation of cost-saving initiatives and targeted preparation for supplier negotiations through comprehensive reporting functions. By analyzing supplier performance and costs in detail, we enable companies to plan procurement efficiently and strategically. In this way, you can realize long-term savings and strengthen your competitiveness.
Level up your procurement potentials
by managing your savings initiatives.
Supplier and performance KPI
All KPIs for the performance of your suppliers and product groups in just one dashboard – tailored to individual areas of responsibility. This allows you to view and monitor the various KPIs directly:
- Spend per Supplier
- Amount of Supplier per Group
- Total Amount of Suppliers
- Incoterms Analysis and Trends
- Best Cost Country Rate
- Localization Rate
- Price Trend and Price Performance
- PPV Performance
Savings Initiative Manager
Use the Savings Initiative Manager to track and implement your procurement projects from start to finish. With the Kanban Board, developed specifically for strategic purchasing, you can manage your procurement projects collaboratively - the perfect blend of a procurement savings tracker, planning and project management tool.
Savings Planning and Reporting
The "Savings Planning and Reporting" (SPR) function is designed to assist your procurement organization in managing and tracking their financial savings goals.
Negotiation preparation
Negotiation preparation at the touch of a button: An export function provides you with reports for internal strategy meetings or supplier negotiations – in .pdf or .ppt format as required. The reports include a detailed analysis of your expenses and savings, KPIs, an overview of all negotiation levers at part number level to optimize your negotiation strategies.
The supplier report-outs include
- Spend and savings trends
- Breakdown by category and parts family
- Development of key performance indicators (KPI)
- Roadmap for savings and projects
- Supplier-specific negotiation points at item level
- Overview of mandatory documents such as acceptance of terms and conditions
The strategy report-outs include
- Spend and savings development
- Breakdown by category and part family
- Development of key performance indicators (KPI)
Your Benefits
- Meeting preparation at the touch of a button saves time
- Focus on the strategic core competence of the buyer
- No manual preparation of Power Point presentations
“As a medium size company, Taelim has limited resource for procurement management with lack of long-term & strategic approach. After implementing ivoflow, our purchasing department has been sharpened more focusing on negotiation and strategic planning rather than research and reporting. Most importantly, I can now rely on the system with transparency, exploring new cost improvement potentials based on logical approach with real-time market data.”
We enable you to transform your procurement.
Book a demo with our experts and get an overview of how ivoflow takes your procurement game to the next level.
Book DemoKPIs in Procurement
What are KPIs in procurement?
The selection of KPIs (Key Performance Indicators) in procurement is based on the company's objectives and priorities as well as the specific requirements of procurement. KPIs in procurement are used to measure the success of purchasing activities, identify bottlenecks, uncover potential for improvement and savings and monitor the achievement of objectives. As the main task of procurement is to keep the costs of input material low, the most common KPI is cost savings: this KPI provides information on how much savings have been achieved through supplier negotiations, consolidation of purchases or other cost-saving measures. Other KPIs include the procurement cost ratio, supplier quality and supplier performance.
KPI dashboards in procurement
A KPI dashboard is one of the tools of the trade for a modern buyer. It is an overview of the most important KPIs in purchasing. A meaningful KPI dashboard is a valuable tool for executives and purchasing managers to continuously monitor the performance of procurement, make data-based decisions and communicate the performance of procurement to the management. A good KPI dashboard in procurement offers the possibility of generating individualized and personalized reports for the individual procurement managers, showing only the product groups/ commodities for which the respective buyer is responsible.
Want to know more
about our procurement solution?
Let us show you how ivoflow can support your business. We are ready to showcase our procurement management system. Together we will find the perfect solution for your company. Feel free to give us a call or e-mail us today!
