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CRO-to-CRO Video Series: Episode 5 Helps Procurement Organizations Drive Business Value

Over the course of the first four episodes in the video discussion series titled “Chief Research Officer to Chief Research Officer,” Michel Janssen and Pierre Mitchell have run the gamut of where digital procurement transformation stands today. “In our previous installments of the series, we were talking a lot about the complexity of the digital…

Live ISM 2019 Dispatch: Building a High-Performance Procurement Team Focused on Value Creation

ISM 2019 featured some excellent procurement advancement and transformation case studies, such as “The Challenges of a New CPO” covered in an earlier dispatch. They are tales of aligning people, process and technology to create business value. Since getting the people side right was consistently mentioned as the most crucial — and fickle — element…

Public Spend: A Look at 4 Value Levers for Public Procurement

It’s time to check in with Public Spend Forum, a sister site, to see what’s happening in public procurement. This week, we’ll focus on an article that offers some in-depth tips on four value levers for public spend. PSF offers a simple list — and then a lot of detail about each item. Click above…

Unlocking Deeper Value in the Procurement and Finance Relationship (Part 3): The Top 10 Impact Areas for Procurement’s Involvement in FP&A [Plus+]

In the second installment of this series, we discussed procurement’s role in helping finance professionals and budget owners use spend data to improve the FP&A process and general business planning. Now in Part 3, we get specific about how to tackle this beast with some specific recommendations that we’ve seen proven out at both advanced…

Unlocking Deeper Value in the Procurement and Finance Relationship (Part 2): Spend Planning and Analysis [Plus+]

In the first installment of this series, we discussed ways to align procurement with the finance function, starting with financial accounting and then moving into cost accounting. Although cost accounting has one foot in the financial accounting world in terms of tracking costs and having them flow to the general ledger (GL), the more important…

Unlocking Deeper Value in the Procurement and Finance Relationship (Part 1) [Plus+]

Much has been written about the need for procurement and finance organizations to better align with each other, in particular how the two functions can best integrate purchasing and payables into an end-to-end purchase-to-pay (P2P) process. The opportunity for aligning these two functions, however, is much greater than simply improving transaction efficiency. Unfortunately, the various…