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Proactis survey highlights gap between Finance and Procurement

1 November 2017 - Proactis, a global Spend Control and eProcurement solution provider, today announced 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 highlighted that whilst key decision-makers at major organisations across sectors are aware of strategic procurement and there's a clear appetite for the benefits, many are failing to reap the full potential.

In summary:
  • Only 54% of CFOs work hand-in-hand with Procurement
  • Only 51% of CFOs support the enabling of procurement technology
  • Only 52% of Procurement teams have a high influence over spend
  • 45% of organisations are struggling to properly manage suppliers
  • 77% of organisations have room for improvement
Simon Dadswell, Group Marketing Director at Proactis said: "We've come a long way since 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: 46% of organisations have 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 Control initiatives may be one of the biggest things that CFOs can do to positively impact their organisation’s bottom line."