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22 November 2011 | Adam Leach
Finance departments will aim to take
greater control and ownership of the purchasing function in 2012, it is
According to spend management firm Rosslyn Analytics - basing
its prediction on interviews with customers, partners and industry experts - buyers
will have to deal with more oversight from finance functions which have seen
procurement play a key role in delivering improved profitability in 2011.
But as a result of this increased scrutiny,
buyers will be given greater responsibilities and act as strategic advisors to
The technology company also predicts
purchasers will take on greater responsibility for managing compliance, and the
function will move away from managing transactional work to focus on more
tactical and strategic areas like SRM.
In addition, procurement’s expertise on
using technology to manage spend data and analytics will see it acting in an
advisory role to other departments as businesses try to roll out spend analysis
and technology across departments.
“Procurement’s hands-on knowledge of new
technologies such as cloud based data services will be relied on by internal
stakeholders, resulting in the proliferation and use of spend intelligence
across their organisations,” the firm said in a statement.
Speaking during a recent CPOAgenda roundtable
debate, Ian Sexton, director of contracts and procurement at Network Rail,
explained his executive team had been
surprised at just how wide the benefits were that his procurement team
Discussing a presentation he gave to the board, he said: “I took the
opportunity to put a slide up and said, ‘This is what we have done over the
past five years’, and a number of people came up to me and said, ‘We had no
idea. We didn’t know that you had done all that.’”