There is a clear need for back office transformation.

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:
53

Said that their organization was “somewhat ready” to realise the latest efficiencies in the procurement function.