Procurement and Finance Collaboration

Savings – a term which serves as a commonality between procurement and finance has also been the main reason for disputes emanating from both the functionaries.

Procurement is often seen of talking about savings it generates through cost avoidance; however, for finance this savings has no meaning since it does not see its impact on the bottom-line. Among the many challenges that procurement and finance face, arriving at a common definition of savings tops the chart.

This whitepaper on “Procurement and Finance Collaboration” provides readers with an outlook on the need for procurement and finance to unite, the challenges faced by two in collaborating and the role of technology in bridging the gap between procurement and finance.