Month: February 2019
The relationship between finance and procurement is critical. Yet tension between the two teams still plagues many organizations – and as procurement’s role in the executive suite grows, tensions may boil over.
At the heart of the issue: today’s procurement teams are tasked with more bottom-line responsibilities than ever. In a perfect world, CPOs( Chief procurement officer) and CFOs collaborate to deliver value, but the corporate world is rarely perfect. Here, we set out to uncover the root causes for why CPOs and CFOs often butt heads and discuss how procurement teams can proactively address these friction points to create a strong, trusting relationship with the finance department – and more enterprise value.