‘Help Me, Help You,’ Said the CFO to the CPO

There are a number of studies out there showing how financial executives don't always see the savings procurement claims it brings to the business. But is this mainly because finance and procurement are not effectively communicating or are not properly aligned within the company? As Pierre Mitchell, Spend Matters chief research officer, writes in his article, How Would Jerry Maguire Do Spend Management? Procurement/Finance Alignment Series – Part 1 published this week on Chief Procurement Officer:

"...[T]he biggest thing here is to get procurement and finance having real conversations about what they need from each other and how to help each other. Just doing that will help identify common objectives that lead to aligned improvement initiatives to jointly create change."

And, this is just one of the topics in finance/procurement alignment Pierre touches on in his article, which is based off results of a snap poll Spend Matters and the Institute for Supply Management conducted to determine how well (or not) the 2 organizations work together. And of course, we have some Jerry Maguire "show me the money" and other tie-ins to describe the relationship between the 2 departments. Check out the full article here and stay tuned for Part 2 in the series.

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