When the Planets Align: Procurement and Finance
Procurement and finance don’t always see eye to eye. The CPO and CFO can oftentimes butt heads when it comes to enterprise risk management, aligning purchasing and A/P and working capital optimization with cost reduction/compliance. “Procurement is from Mars and Finance is from Jupiter: How to Align Planets” is a new paper from Pierre Mitchell (Chief Research Officer) that aims to dig deeper in the procurement/finance relationship.
Here’s an excerpt: “Mars might be the god of war and mighty in its own right – ready to battle any time with a combative supplier or recalcitrant internal stakeholder. But Jupiter is the king of gods: large, distant, cold, foreboding. These gods might seem similar, and in the business world, Procurement and Finance should in theory be highly aligned and focused on cost management, risk mitigation, quantitative analysis, and other areas.”
You can read the rest of this research paper here.
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