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Set the KPI (Key performance indicators) in VendorLink for your various organisation parts to monitor those important indicators. KPI's can be set on organisation level, cost center level, cost center group level, commodity level or combinations of those.
In VendorLink the following KPI's are available:
- % Order invoices
- % Order volume
- % Direct match invoices
- % Contract Compliance (YTD)
- % Target deviation
- Number of invoices per month
- Number of new vendors
% Order invoices
The percentage of invoices that are based on an order placed via an ordering system. This KPI depends on the use of the ordering system. To increase [[Invoice Efficiency]] this is an important parameter. Set this KPI per cost center or cost center group to see ordering discipline for these entities.
% Order Volume
The percentage of the total invoiced amount based on an order placed via an ordering system. This KPI depends on the use of the ordering system. This KPI indicates the amount of volume covered by an order.
% Direct match invoices
Percentage of invoices that have a match in the purchase to pay system. An order was made in the system and the price matched. This ideal situation is also described on the [[invoice efficiency]] wiki page.
% Contract compliance (YTD)
The percentage volume covered by a contract. VendorLink calculates this per month in two variants.
- Contract Compliance YTD (Year to date (cumulatief))-> Total spend covered by a contract ytd.
- Contract Compliance per month -> Total spend covered by a contract per month separately
% Target deviation
Set volume targets : can you spend more or do you need to safe more ? This KPI calculate the % difference between the target volume en realized volume
The HRM departement has a budget of 120,000 EURO. A % target deviation has been set on 0%. This means that the department needs be within the set budget at the end of the year. After the month March the department spent 35,000. The % deviation is at the end of March (35,000 - (120,000 / 12mn * 3mn) ) / 30,000 * 100% = 16.67%
Number of invoices per month
The workload of the back office correlates with the number of invoices per month. Lowering the number of invoices means lowering the workload.
Number of new vendors
The number of new, never been used before vendors. For some organisations this is an important indicator.
Set KPI - Spend - KPI - Add
Set the KPI by filling in the fields.
|KPI Name||Name the KPI|
|Norm||Set a norm as goal for the KPI.|
|Cost Centre Group||Select Cost Centre group to set KPI at cost centre group level.|
|Cost Centre||Select Cost Centre to set KPI at cost centre level.|
|Commodity||Select to have the KPI set at commodity level.|