Transforming Procurement and Finance to Fuel Business Growth from CFO.com
Think holistically, act collaboratively to drive automation, efficiency and value.
Procurement is lagging in digital transformation, with only three percent of CPOs confident that their teams are up to the challenge of maximizing digital capabilities. But, according to this white paper from CFO.com, collaborating with finance on achieving procure-to-pay automation could yield the greatest impact on efficiencies, costs, and supplier relationships. And ultimately, the bottom line.
Transforming Procurement and Finance to Fuel Business Growth details the challenges facing these two intertwined functions — from lingering “back-office attitudes” to siloed legacy systems and over-reliance on manual processes — and reveals strategies and best practices for an effective transformation. Topics include:
- How finance and procurement combine can be key drivers of organizational transformation, starting by securing C-Suite buy-in and engaging stakeholder support in key functional business areas.
- The enterprise-wide benefits of transforming finance and procurement beyond just process efficiency, including data visibility to drive better decision-making and a better experience for teams, partners and stakeholders.
- Why establishing a transformation roadmap is critical, balancing goals and metrics across savings, quality, service, and value.
Download the white paper to expand your perspective on what makes a successful digital transformation and how, working together, finance and procurement can drive that process and bolster business growth.