New research on strategic procurement suggests that organisations are split down the middle on how they approach major spending and savings opportunities. So, which side are you?
World’s apart
Results from the Impact of Strategic Procurement 2017 Survey have revealed a picture of ‘haves’ and ‘have-nots’ among global enterprises, national companies, public sector agencies and not-for-profit organisations. But the differences don’t relate to budget or technology – it’s about approach.
Most organisations today recognise that gaining control and visibility of their procure-to-pay process can lead to stronger budget management, compliance and cost reductions. But researchers discovered that a striking divide exists among organisations over whether their Chief Finance Officers are actively using their influence and joining forces with their colleagues in Procurement to make this happen.
Organisations are split down the middle.
These fresh findings suggest that company collaboration still has a long way to go and an old mindset around territorial boundaries may be alive and well in many boardrooms. It’s almost as if inefficiencies within the procure-to-pay lifecycle may be seen as someone else’s problem, rather than everyone’s responsibility.
However, the report sounds a warning that inflexible attitudes could spell doom in today’s new economy where traditional players are under threat. They face newcomers armed with highly-responsive, web-enabled tools and processes that ensure waste of any kind isn’t tolerated.
