The 2022 Business Spend Management Benchmark Report
United by the Power of Spend
20 community-powered KPIs for best-in-class performance across procurement, risk, invoicing, expenses, and payments
The industry’s only collection of benchmarks based entirely on hard data from real business spend transactions.
HOW COMMUNITY BENCHMARKS CAN HELP YOU
Traditional procurement and finance benchmarks are based on survey data and tell an incomplete story. Coupa’s Business Spend Management Benchmark Report is unique because it’s the industry’s only collection of benchmarks based on actual business spend transactions, anonymized and aggregated across a community of thousands of organizations and trillions of dollars in spend.
This year’s Benchmark Report uses community data to guide you through comprehensive Business Spend Management (BSM) transformation and help you:
Optimize Spend and Cash
Improve Operational Performance
Reduce Risk
Attain ESG goals
Here’s a Sneak Peek:
Electronic
PO Processing
HOW TOP PERFORMERS RANK:
99.0%
of orders processed electronically
Why It Matters:
Digitizing purchase orders drastically reduces low-value, manual work while accelerating the process to manage, confirm, and change POs.
Risk Management
Evaluation Completion Rate
HOW TOP PERFORMERS RANK:
82.6%
of risk questionnaires completed (by suppliers)
Why It Matters:
By sending out digital risk questionnaires to critical third parties, you efficiently achieve a more complete understanding of your third-party risk exposure and can quickly implement proper risk mitigation measures.
Invoice Approval
Cycle Time
HOW TOP PERFORMERS RANK:
11 Business Hours
Why It Matters:
Faster approval times not only help avoid late payments and penalties, but they also avert potential problems stemming from supplier frustration, including voided contracts or refusals of future projects.
Download the report to utilize the full suite of 20 KPIs to chart your progress across the entire BSM process.
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What's Inside:
- Find out how you measure up across 20 of today's most critical procurement, invoicing, expenses, risk, and payments KPIs
- See how companies fare in their supplier diversity ESG efforts
- Discover actionable steps to improve your performance for each KPI
- Learn how a comprehensive BSM strategy will make your business more resilient and prepared for future uncertainty
USE DATA TO YOUR ADVANTAGE
Download the report and uplevel your Business Spend Management performance today
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