Procurement, treasury and accounts payable have one set of shared objectives when it comes to supplier engagement and management, but all too often they operate in silos. This complicates supplier management and does little to improve their experience while working with a company. Restructuring how these groups work together through procurement transformation can create opportunities to support each other’s goals and therefore better deliver against business expectations.
In this episode, Host Philip Ideson is joined by Joe Payne, SVP, Source-to-Pay at Corcentric, and Jennifer Ulrich, Senior Director of Advisory at Corcentric. They are both return guests on Art of Procurement and are two of four authors of the recently released book: Managing Indirect Spend.
This conversation is based on a recent AOP Live webinar titled, “Bridging the Gap Between Procurement, AP, and Treasury through Procurement Transformation.”
In that session Joe and Jennifer answered questions from a live Art of Procurement audience about:
- Where procurement, treasury, and accounts payable tend to fall out of sync and why
- How fragmented processes not only negatively impact suppliers, but reduce the ROI to the company from those relationships
- The additional benefits – such as reduced overall effort and improved data quality – that result when all three groups work collaboratively
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