Establish Methods to Monitor and Maintain Savings
KPI benchmarking is the practice of comparing your organization’s performance metrics against a peer group or industry average. This allows you to track your progress and identify areas for improvement. ERA and it’s experiences provides the software and resources to help you monitor and maintain savings. Our solution offers:
-A library of KPIs specific to service procurement
-Automated trend analysis and forecasting
-Customizable dashboards
The Three M’s
1. Meaningful:
Ask yourself what criteria are necessary for your specific organization. Without this information you are bound to get lost at some point down the line.
2. Measurable:
Find a solution for how data can be monitored to ensure results are being achieved and maintained over time. Without measuring the results you cannot get the full scope of the work that is being down.
3. Manageable:
Come up with methods that will be accepted and followed by all key players to ensure the implementation of cost-saving processes throughout your organization. ERA works with you do develop the best possible method for your specific organization.
Achieving savings from within your supplier base and maintaining savings over time is critical to
developing a culture of expense reduction. ERA works with you to provide training and support!
