Did you know that you can easily find out who are the new suppliers in your organisation’s data? Not only that, but the repeat suppliers too.
Provided your organisation has at least two years of analysis published to the Observatory, the number of new suppliers, returning suppliers and suppliers not used in the most recent year compared to the last can be easily obtained.
The report is called Vendor Churn and can be found in the Methodology folder, in Analyse.
New Suppliers – what next?
Now you’ve got the number of new suppliers (vendors), you can use the report to find out some really useful information about them.
Here are some examples, there’s lots more in the Observatory so take a look for yourself!