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KPI's
Set the KPI (Key Performance Indicators) in VendorLink for your various parts of the organisation to monitor those important indicators. KPI's can be set at organisation level, cost centre level, cost centre group level, commodity level or combinations of these.
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 centre or cost centre 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 (cumulative))-> Total spend covered by a contract year to date.
- 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 save more? This KPI calculates the % difference between the target volume and realised volume.
Example:
The HRM department has a budget of 120,000 EURO. A % target deviation has been set at 0%. This means that the department needs to be within the set budget at the end of the year. After the month of March the department spent 35,000. The % deviation at the end of March is (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 before used vendors. For some organisations this is an important indicator.
Set KPI - Spend - KPI - Add
Set the KPI by filling in the fields.
| Field name | Description |
| KPI Type | |
| 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. |