Both the Finance & Procurement functions are in a prime position to navigate change and orchestrate innovation across the organisation.
This is being fuelled by new technology, methodologies and resources – and underpinned by a great focus on data. Much of the required analytical capability sits with these teams, providing a bird’s eye view of the organisation’s performance.
The challenge, now, is to demonstrate the critical role both these departments play in the digital age and secure their seat at the decision-making table.
Across the globe we’re seeing procurement policy change, forcing the public sector to re-assess, re-design and modernize their procurement practices.
In order to play a greater strategic role, back-office executives need to:
- Transform the culture to power accelerated improvement, agility and better decision making
- Partnering with the winder Business to Achieve Financial Sustainability
- Build stronger streamlined contract and payment processes and capabilities to attain better “value”
Our Corporate & Shared Services Community examines the changing roles and helps leaders to sharpen their insight and secure business partner status as they drive their organisations towards its long-term goals.
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We surveyed 189 procurement professionals:
Said that their organization was “somewhat ready” to realise the latest efficiencies in the procurement function.