Integration and supply chain relationships will key strategic issues for finance and procurement departments in 2010, according to new research.
According to Basware, the purchase-to-pay solutions provider, the simultaneous integration and fragmentation of business processes will be a major business challenge over the next decade. Finance and procurement departments will take the lead in identifying and enabling business strategies.
Consolidation across all of the major global industries has also demonstrated a desire for closer interoperation between suppliers and buyers, led by finance and procurement departments. There has been a rise in scalable and open supply and payment networks and their ability to speed up the movement of documents in the form of invoices and POs between organisations will remain ‘compelling’.
Basware’s Matt Lee said: “Business-critical finance and procurement departments are now leading the way in devising and implementing new processes, technologies and workflows. These ‘buying and paying’ departments will find that they achieve a much more strategic role in the success of their organisation, breaking away from their old perception of an internal service team.”
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