9 ways in which Finance and Procurement collaboration can produce better business outcomes

When finance and procurement teams work in harmony, they make a far greater contribution to business goals than is possible when working in silos. Yet in many organisations, there’s still a disconnect between the two. Our report, How dysfunctional finance and procurement leads to bad business outcomes, explores this disconnect in detail and we strongly suggest you read it.

As a more general overview, we outline below nine ways in which finance and procurement collaboration can produce better business outcomes – as well as how technology can help. Remember, though, that technology alone is never the complete solution – success in collaboration demands strong working relationships, ongoing communication, and a cross-disciplinary mindset.