I recently attended an event where a company’s finance director stood up and praised the value of procurement to the business, and the importance of working together.
But despite seemingly obvious benefits, in a study carried out by consultancy CSC, almost a third of buyers said there was little or no support from their finance department.
This is perhaps strange, considering that not too long ago, purchasing was likely to be thought of as a part of the finance function.
SM will be looking at what finance directors think of buyers later this year, but we would be keen to hear the buyers’ opinion of finance teams.
Where can the two functions collaborate, and when should they leave each other alone?