Corporate Convergence: Finance and Procurement

Posted by Andrew Bartolini on September 9th, 2013
Stored in Articles, Chief Procurement Officers, Events, People, Strategy

Convergence has been a big theme this past decade. Frankly, it seems like everything is converging with something else.

Your local pharmacy is now your walk-in clinic.

Your low-cost retailer is now your bank.

Your girl scout cookies are now deliciously found in your ice cream – Samoas!

You can listen to the Beatles’ White Album and Jay-Z’s Black Album at the SAME TIME! (Thanks,Danger Mouse).

And of course, your smart phone is well, everything (honestly, there were too many possible links to pick just one).

Reese’s was definitely onto something.

Business is not immune from this convergence thing either. Business units and regions and products within many companies are starting to converge, mostly for the better. Supply Chains are converging. And then there’s finance and procurement, two groups that are naturally aligned in their interests and approach in working with the line of business leadership. Finance and procurement should be converging, I mean they’re already working together on P2P…….. Of course, the reality is that in most enterprises, these groups are not converging or even on the same page.

But, finance doesn’t have to be the enemy of procurement, in fact, they are a natural ally.

 

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