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The missing link: The role of finance in supplier management

Too often, responsibility for managing and monitoring supplier records and relationships is diluted across the organisation.

But if Finance and Procurement seize the initiative and drive through an automated strategy, a spectrum of instant and long term benefits will make themselves felt on the bottom-line.

Tough times require tough cost control measures. So your first, second and third response is probably to lose people. It feels like an instant saving and it shows up quickly where the board wants to see the consequences: on the bottom-line. But there could be a more logical place to start pruning costs, and that’s your supplier database.

Proactis Holdings Plc (LON:PHD) develops and sells business software, and provides installation and related support services in Europe and the United States. The company offers Spend Control and eProcurement solutions that help organizations to improve operational and financial performance by enhancing the way they buy various goods and services.  

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.