Forces are combining to align procurement and finance. For example, the evolution and expansion of the CFO and Chief Procurement Officer roles have served to bring these two leaders and their departments much closer together within the organization. Ardent Partners’ research shows that the CPO is more likely to report to the CFO than any other executive; as a result more and more newly opened CFO positions require at least an orientation towards procurement, if not an overarching competency in it.
And yet, despite what one presumes would be easy access via a direct reporting relationship coupled with a widely shared view by a majority of CFOs that procurement has become more strategic over the last three years, getting on the CFO’s agenda remains a significant challenge for most CPOs. With an ever-expanding role, CFOs must choose their battles and guard their time wisely leaving CPOs to vie with their functional peers for the time and mind share of the CFO.
Nonetheless, as CFOs and CPOs continue to face many of the same challenges in growing their roles, influence, and departments within the enterprise, tighter collaboration between the two will open opportunities for each leader to leverage the success of the other to their collective benefit.
In a webinar tomorrow afternoon,, we will present six strategies that CPOs can and should use to engage their CFO. Here’s the list:
- Strategy #1: Know Your (Starting) Place, Improve it
- Strategy #2: Cash In on Cash Management
- Strategy #3: Collaboration & Cohesion
- Strategy #4: Flattery, by Imitation
- Strategy #5: Supply Chain Risk & Reward
- Strategy #6: Strength in Numbers
We will also discuss how CFOs can better evaluate and optimize procurement and supply management performance via a “CPO Scorecard.”
If you are around tomorrow at 2 pm ET, I invite you to join us……
How a Strong CFO-CPO Alliance Can Command Top Performance
Date: Thursday, July 25, 2013
Time: 2:00 PM – 3:00 PM ET
Webinar sponsored by Basware
