Below are a set of benchmarks that are tied to requisition processing. Take a look at your benchmarks in your Coupa service to see where you are doing better than the market, or where you can improve.
Use the "Ways to Improve" column as a way to better your procurement processes, and continue to save your company money!
Benchmark
|
Ways to Improve
|
| Free Form Request |
1. Expand categories and item lists
2. Implement
more catalogs
3. Expand chart of accounts with spend / expense categories |
| Req to Approval Cycle Time |
1. Remove unnecessary / redundant approval
hierarchies
2. Rationalize approval limits
3. Increase self approval limits |
| Rejection |
1. Introduce budgets
2. Require approvals above
certain amounts / budget overspending |
| Self-approval |
1. Reduce self approval amounts
2. Approval for
budget overspending |
| RFQ |
1. Require RFQs for certain spend categories
2. Have
RFQ reference in the PO |
|
|
