Proactis has launched an executive guide to help finance specialists control spend on indirect goods and services. The guide discusses five fundamental questions every senior financial manager should ask about their organisation’s purchase-to-pay (P2P) to increase visibility into spending and using information technology to automate and enforce rules:
- Do the right people really have control of what they are buying?
- Do managers have enough visibility of commitments to properly manage their budgets?
- Are they getting the best value for what they are spending?
- Are they properly managing the payment process?
- Are they as efficient as we can be?
Simon Dadswell, director of marketing at Proactis, said: “Almost all organisations can benefit from improving how they manage corporate spend. Those purchases that are a necessary function of keeping their organisation ‘up and running’ and the costs of doing business that seem to eat away at the bottom line. We have created this guide in support of senior financial managers who need to create an end-to-end vision for corporate spend control, especially in challenging economic times.
“This guide offers finance specialists a practical way to get started in the pursuit of cost savings. While many of these executives may not be directly involved in the procurement process on a day-to-day basis, it is essential they understand how much expenditure and organisational resource is involved in the daily purchase-to-pay cycle. Few finance teams have the necessary visibility or controls to manage the cost pipeline and tap in to available savings,” he added.
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