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Is there a disconnect between finance teams and procurement teams? A new survey of 2,005 procurement leaders in the U.S. and the U.K. suggests there is for some companies, and it may ultimately be affecting their bottom lines.
Released Tuesday, the report from California-based contract lifecycle management company Agiloft showed that about one in 10 respondents said they have no shared metrics between chief procurement officers and CFOs. The lack of shared metrics was cited among the biggest obstacles preventing companies from "closing the gap between what procurement negotiates and what finance realizes."
Other barriers cited were lack of contract data visibility, selected by 14% of respondents, along with manual processes that create exceptions that go unseen (23%).
Agiloft's survey included responses gathered from 2,005 chief procurement officers and other procurement leaders Aug. 5-20.
#procurement
Is there a disconnect between finance teams and procurement teams? A new survey of 2,005 procurement leaders in the U.S. and the U.K. suggests there is for some companies, and it may ultimately be affecting their bottom lines.
Released Tuesday, the report from California-based contract lifecycle management company Agiloft showed that about one in 10 respondents said they have no shared metrics between chief procurement officers and CFOs. The lack of shared metrics was cited among the biggest obstacles preventing companies from "closing the gap between what procurement negotiates and what finance realizes."
Other barriers cited were lack of contract data visibility, selected by 14% of respondents, along with manual processes that create exceptions that go unseen (23%).
Agiloft's survey included responses gathered from 2,005 chief procurement officers and other procurement leaders Aug. 5-20.
#procurement
2 months ago
