Proactis, the global spend management and B2B eCommerce company, has shared the results of a survey that questioned senior decision-makers on how well Finance and Procurement work together
on delivering value from strategic procurement initiatives, including supplier relationship management, sourcing and contract management.
The survey highlights that there are a number of opportunities. While many key decision-makers at major organisations across sectors are failing to reap the full potential, they are aware of strategic procurement, and there's a clear appetite for the benefits.
Penny Godfrey, Group Marketing Director at Proactis said: "We've come a long way from departmental silos. It's great news that more than half of the professionals we asked are witnessing close cooperation between Finance and Procurement at the highest level.
"But it is clear from the survey results that there is still some way to go with 46% of organisations having yet to see full engagement between department leaders. And that could hinder progress of the fundamental improvements that are needed today.
"Joining forces with their Senior Procurement Manager to better understand and leverage strategic procurement in conjunction with their spend management initiatives may be one of the biggest things that CFOs can do to positively impact their organisation’s bottom line."