Hardly a week goes by without there being a conversation about the need for all of us to break down silos, reach across the organisation, add value and so on.
These conversations often gravitate around the imperative to work with the business and look through the whole supply chain and to collaborate with suppliers, fostering innovation and creating market-leading opportunities.
What is sometimes overlooked is the nascent but growing relationship between procurement and your colleagues in treasury. After all, your suppliers want to get paid – but your treasurer wants to conserve cash to keep the company financially secure or to enable it to seize opportunities when they arise.
Procurement professionals, therefore, need to engage with treasury to explore ways of meeting the organisation’s goals – financial goals and business goals.