CFOs’ Views on Procurement - Information, Risk and Money
Sponsored by Ariba.
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The battle to control costs is about more than saving money. It’s about improving performance. And leading procurement organizations recognize that in order to succeed, they must enlist a new ally: finance. In this podcast, Paul Tong, Senior Product Manager, Ariba, discusses the results of a recent survey conducted by CFO Research Services which shows that a majority of finance executives consider procurement a key partner in driving improved cost management, business unit decision making and planning, budgeting and forecasting.
Click the Play button in the upper-right corner to listen.
July 18th, 2007 at 7:09 am
Ah…I wish I worked for a company that had this mindset. Our management is still spending dollars to save dimes. We have no financial efficiency targets and therefore the costs aren’t measured against the return. Our CFO only sets cost goals, but there is no internal dialogue on strategy. If only I could sneak this audio into a meeting…
June 27th, 2008 at 5:38 pm
Without a doubt, automation and visibility are important. Building the bridge partnership bridge between Procurement and Finance and/or any othe lOB clients or key suppliers takes finesse.
Here at Market Focus (www.marketfocus.com) we utilize our Category and Sourcing Managers Executive (CasMe) subscription services to facilitate the share of Best Practices and nuances from those experienced, and living in that world!
Use the tools and leverage the knowledge and address the stakeholders needs and perceptions - it’s a win-win-win!