Something to Consider March 2018 – Bridging the Gap Between Finance & Procurement
Despite being well established business partners, finance and procurement/sourcing are often treated as separate islands rather than integrated components of a critical end to end process that drives substantial value for the organisation.
Leading organisations are driving closer alignment to deliver greater agility, efficiency, effectiveness and transparency in this Source to Pay (S2P) end to end process.
Many of us recognise Purchase to Pay (P2P) as a process, in reality closer to Invoice to Pay for many. The shift towards ‘Source to Pay’ is inevitable and inexorable.
Market/customer demands, performance measures, deeper process focus, digital transformation, and technology are all driving this shift.
Global Process Ownership (GPO) is also a major new driver.
This article describes the challenges and seismic shifts of expectation as well as the 5 critical actions that the CFO, CPO and CIO need to lead.
Give it a read here
Our ‘Something To Consider’ snippets are framed as small, digestible, ‘dashes of insight’ around the pillars of what we define as “World Class Finance” – Process Optimization, Financial Control and Compliance, and Risk Assurance, all underpinned by technology enablement and integration.