Benchmarking


Benchmarking tools

The primary focus of benchmarking is to measure and continuously improve an organisation’s processes, procedures and policies against that of best practice. By organisations rating their performance against others it can identify opportunities to create value, prioritise areas for improvement, compare performance against customer expectations and identify where change is necessary.

 

Effective benchmarking starts with an organisation setting a baseline, benchmarking its current performance levels internally in order to evaluate its performance relative to other organisations. Benchmarking externally can be split into three areas; competitive, industry and best-in-class.

 

 

 

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CIPS Procurement Content

Benchmark Study

Performance Procurement Benchmark Report: How do you create more value?  

 

What makes great procurement great? What separates the all-star procurement teams from their middle-of-the-road peers? How does your organisation measure up against best-in-class procurement? And what exactly is best-in-class procurement?

 

With these questions and more in mind, WNS partnered with CIPS to embark on a mission to better understand top performance procurement by documenting the common threads within high-performing procurement organisations. Over the course of eight weeks, 300 European and global firms across a broad range of company sizes and industries were polled to gain insights into the mindset of a high performer.

 

The plan was to examine the relationship between value and alignment and to use that to develop a new, more dynamic best-in-class benchmark for the industry. Read this expert report to discover the results.