We aim to tailor Procurify’s blog content to best meet the needs of our readers. We have analysed and collated all your responses, so read on to see how you measure up to your contemporaries, and if you recognise yourself in the stats below. We hope these shed some light on company spending.
We have many different types of readers. Imagine them as customers in a store. Some go in not knowing what they need, except advice. Some are simply there to browse. Some know exactly what they want, they just want to buy. Most visitors to our website are the latter; they are looking to have a specific question answered. The most important thing is that they – you – have all come to the same store.
Respondents are mainly procurement professionals, looking to read more about procurement. They largely work in companies with a visionary CEO who is constantly checking in and engaged with each employee. So for people working in the procurement industry, let’s review whether their companies walk the walk and not just talk the talk.
How long does it take to get a purchase order approved in your company?
67 percent of respondents have their purchase orders approved within a week. But that still leaves a worrying 11 percent of people who spend weeks trying to get their requests processed.
Technology should exist to make our lives easier.
Most people agree that technology’s purpose is to make our lives less complicated.
Would you say your company is transparent about its spending?
The majority of people acknowledge their company is transparent about its spending, which is perhaps a surprising result.
Do you know of any instances of maverick spend in your company?
The answers to this question rather contradict the answers to the previous question, proving that spend transparency within companies is probably not as clear as respondents might have claimed. 24 percent say that spend management is in place but the overwhelming majority of survey respondents admit they don’t know whether maverick spend occurs within their company. There should not be any shadowy spending activities or people left in the dark.
One respondent says their company is transparent about their spend but also claims to know of maverick spend problems, evidence of a poor Spend Culture in place.
What is the main pain point in your company?
The most common problem for participants is experiencing a breakdown in communication. We live in an age of instant but distant messaging. In today’s world of Slack messages, social media platforms and remote working, vital pieces of information can sometimes slip through the cracks. When there is less need to be face to face, it is a challenge to stay accountable to answering questions and approving requests. Communication may be quick but it is harder to get the nod or go ahead and all too easy to feel your online request has been ignored or lost in the ether. Delays in pushing through a request is another frequent issue slowing down work processes.
Employees in my organization willingly accept change.
We measured the responses of our readership against a worldwide benchmark. The results are remarkably similar, apart from a much more conservative agreement that employees are amenable to change in the organization.
Thanks to everyone who participated and filled out our survey. We hope it is helpful to highlight any gaps in your company, especially seen in comparison to your peers.