If you follow the procurement industry news closely you may already know that over the past week we’ve launched the first ever peer benchmarking solution based on real procurement spend. Spend Matters, Supply Chain Digital and PYMNTS were some of the first to pick up on the topic, and you can expect more coverage over the coming days.
Most benchmarking solutions today are based on survey data. The results the offer are often too high-level for procurement professionals to find reliable and actionable insights.
With Peer Benchmarking, Sievo’s customers can compare their own procurement spend against industry peers anonymously and in detail. Customers can track performance across a number of KPIs, including supplier counts, spend as percentage of revenue, category spend per employee, purchase order coverage, and so on.
Peer Benchmarking utilizes Sievo’s growing Big Data repository of over 125 million transactions and $140B in spend. It includes both proprietary spend data and data from relevant external data sources.
In addition, we’ve published the first ever Consumer Goods and Manufacturing benchmark reports based on real data. To view and download these reports, visit https://sievo.com/procurement-benchmarking