Readers unsure of how disjointed the bonds between procurement and finance departments within the same organisation can be should note the experience of Pete Loughlin, a procurement consultant specialising in purchase-to-pay (P2P) systems, who has often seen for himself just how dysfunctional relationships can be between the two functions.
Speaking to Procurement Leaders, he said: “Finance and procurement only ever speak to each other when there is a problem. If you only ever interact with somebody when there’s a problem, you don’t really get to like them.”
He’s right. Apart from creating an unpleasant workplace experience, it’s also unnecessary – and is the progenitor of countless missed opportunities. As this white paper shows, there are ways to streamline the P2P process that can help bring the two functions together, make life easier for suppliers and provide a platform for more value-adding initiatives such as supplier finance.