What KPIs should I track with procurement tools?

albertnakali

I want to know which KPIs are most important to track using procurement tools. Should I focus on cost savings, order cycle times, supplier reliability, or something else? How do you measure procurement efficiency effectively?

noisegatesam

KPIs for procurement include spend per supplier, on-time delivery, order cycle time, and compliance rates. Tracking these allows teams to identify inefficiencies. AI-based tools like precoro automate KPI reporting, giving procurement and finance managers insights in real time without spending hours on manual data collection and analysis.