Still Missing: Much Needed Collaboration Between Finance and Procurement

Shared services and GBS organizations are stiving for touchless processing. Treating cross-functional processes as end-to-end is pivotal to achieving it.

Problems arise in a quest for end-to-end when colleagues upstream act out behaviors that compromise efficiencies downstream. The classic example is Procurement forgetting to raise POs. But examples of behaviors in Finance and Procurement that undermine the "other" function are endless.

It is a shared services truth that Finance and Procurement MUST collaborate fully, completely and permanently in order to optimize Source-to-Pay, and drive opportunity, value and profit margin.

So it is surprising that, even in 2024, after a solid 15 years of industry leaders and consultants repeating the importance of breaking down silos, 53% of finance and procurement professionals say their CFOs and CPOs fail to bring S2P teams together*.

sharedserviceslink and PRGX will be presenting a webinar on how to step away from toxic behaviors, and move to working in brilliant partnership.

This webinar examines:

• The dream – what is possible and wholly achievable when Finance and Procurement work as one
• The 4 obvious behaviors that undermine your S2P process
• The 3 deeper, more pervasive actions that are damaging your S2P outcomes
• 5 practices to get "right" to help galvanize the Finance and Procurement partnership

*2024 PRGX Report

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