We often see a natural synergy between Procurement and Finance, with both functions contributing to the financial wellbeing of an organisation - albeit their areas of focus are distinct.
Over time, businesses have recognised the importance of aligning Procurement and Finance functions to achieve common business goals, optimise financial performance, and enhance resource management. This has led to increased collaboration and a recognition of the interdependencies between the two functions.
Following recent economic pressures and Supply Chain disruption, we have seen that it is more apparent than ever that the relationship between Procurement and Finance needs to be leveraged to its full extent to ensure business success.
We see collaborations between the functions, in terms of shared skills and qualities required for success in both roles. By recognising these shared competencies, organisations can create a cohesive and efficient team that collaborates effectively to drive financial performance and Procurement success.
For the most successful organisations, Procurement jobs are no longer seen as a branch of Finance, but a genuine business partner and critical heart of Finance-related decisions.
Would you be interested in an event focusing on how Procurement and Finance functions can adapt and grow together for the future? Please reach out to Sasha Gill, Senior Consultant, to share your thoughts: [email protected]
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