Procurement Lifecycle Tracking

About the Program

Category: Information Technology (Best in Category)

Year: 2023

The concept of tracking how long a Procurement takes to complete start to finish has been around for a while. But as anyone who has had to develop this type of analytic or technology knows this process takes: • Knowledge of your end user’s business • Time and resources • The proper technology The Finance/Procurement Department has continued to grow its technology, resources and knowledge base just for this reason. Finance/Procurement recently endeavored to develop and implement a way to track the lifecycle of a Procurement focusing on different steps within the Procurement process and getting a count on the days the request/procurement stayed within each step. The team also reviewed workflow, workload distribution analytics and lastly implemented new technology in order to fill in data gaps that were uncovered when working to determine a Procurement’s lifecycle. This process took already existing technology, such as our Nintex based Procurement Support Request (PSR) form and the data mart and linked different data points and sources that were previously siloed, together allowing Departments to track their Procurement Request from start to finish. In order to provide line of site to Departments and leadership, Finance published an inward facing Procurement Lifecycle Tracking Dashboard. This Dashboard allows Departments to see/search for the progress of their contract/request, as well as search for past contracts to gain insight into the estimated completion time for each contract type.