Procurement KPIs
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Contracts renewed
Contracts renewed
Number of Contracts renewed
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Number of contracts that have been renewed

KPI Definition

Contract Renewed refers to the number of procurement contracts that have been extended or renegotiated for an additional term after reaching their expiration date

Business Value

This metric is calculated to track the number of contracts expiring soon, so that a business can plan revenue targets and goals.

Movement Direction

Sample Formula

COUNT (Contract_Number)

Should Aim For
1
This metric should move up ie., increase with time as it is profitable for a business to have contracts that have been renewed.
2
3
Track Similar KPIs
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General ledger accounts are individual accounts used to record financial transactions
Running Projects
The projects which are ongoing
Delayed PO Payment
the payment for goods or services provided under a purchase order (PO) is postponed
Payment
total amounts for all payments
Delayed Non PO Payment
the payment for goods or services provided without a corresponding purchase order (PO) is postponed
Delay in payment
time delay for payment
Contracts updated
the process of updating or renewing contracts is postponed beyond the expected or agreed-upon timeframe.
Cycle time for invoice posting
the duration from when an invoice is received to when it is processed and recorded in the organization's financial systems.
Preferred vendors
suppliers or vendors that have been designated as preferred
Project Amount
total monetary value assigned or budgeted
Unutilized Project Budget
the portion of allocated funds or resources for a procurement project
Target cycle time for project closure
ideal timeframe within which the procurement project should be completed
Projects
Projects refer to specific initiatives or endeavors undertaken
Project estimated saving
Project estimated saving
Project Cycle time
Project cycle time refers to the duration it takes to complete a specific procurement project
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