How Efficient Is Your Procurement Process? Benchmarks Reveal a Wide Performance Gap

Purchase orders (POs) are one of the most routine activities in procurement. Yet APQC benchmarking data shows that organizations spend anywhere from about $14 to more than $54 to process a single purchase order, so for companies issuing tens or hundreds of thousands of POs each year, that gap can translate into millions of dollars in operating cost. Research indicates that these differences are largely driven by how procurement work is structured and executed. Read this article to learn what top-performing procurement teams to differently to reduce costs.

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