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Reaching New Heights

Sponsored By CFO Research Services

Topics:
Budgeting & Planning > Business Performance Management
Finance & Risk Management > Business Continuity Planning

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Abstract:
While procurement has traditionally been recognized and rewarded solely on the basis of its cost-cutting ability, the function is now stretching to make a higher-value strategic contribution. This study explores how procurement, by coordinating and integrating with other functions, notably finance, is transcending its silo, emphasizing strategic activities rather than transactional execution. Procurement's evolving corporate contribution is apparent to senior financial executives, who view the maturing function as becoming a source of companywide value.

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