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Since taking on the role in June 2023, Rogers has been committed to overseeing the efficient operation of the town’s government. However, he quickly identified a major hurdle: the town’s procurement process was hampering his team’s productivity and efficiency. This is a widespread issue across government procurement teams.
The five key types include: Internal External Competitive Functional Generic Figure 1: Types of Benchmarking How Benchmarking Drives Better Procurement Decisions By leveraging benchmarking insights, procurement professionals can: Identify the best suppliers Gain clarity on which supplier offers the best deal based on total value, not just cost.
Similar to how CRM manages everything around the customer, an S2P platform manages everything around the supplier. It is a crucial process for organizations that are looking to streamline their procurement activities, better manage spend and suppliers and increase operational efficiency. What is Source-to-Pay?
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