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    Aligning Business Drivers Between Finance and Procurement - ScottMadden

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    Aligning Business Drivers Between Finance and Procurement - ScottMadden

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    Dennis Du
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    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    16 views3 pages

    Aligning Business Drivers Between Finance and Procurement - ScottMadden

    Uploaded by

    Dennis Du

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    ScottMadden (https://www.scottmadden.com) » Insights Library (?


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    Video (https://www.scottmadden.com/insight-type/video/) » Aligning Business Drivers Between Fi…

    Aligning Business Drivers Between Finance and Procurement

    Making an End-to-End Procure-to-Pay a Reality


    For most companies the procure-to-pay (https://www.scottmadden.com/topic/procure-to-pay/) or P2P process has evolved to where upstream
    processes (the world of sourcing and purchasing) and downstream processes (the world of accounts payable) are managed by different
    organizations and are largely disconnected at key integration points. These disconnects drive rework, inefficiency, frustration, and overall higher
    costs to serve.
    Inherently, business drivers are different for these two groups: “upstreamers” aim to create processes, which reduce cost and deliver goods and
    services in a timely manner, while “downstreamers” strive to automate high-transactional volumes, quickly solve problems, and ensure financial
    controls by eliminating payment errors.
    Integrating these processes in an end-to-end fashion can deliver the best of both worlds and provide further synergies in automation and error
    reduction. This is truly a case where 1+1 equals 3. However, different reporting lines, strategic objectives, and operational mindsets create quite a
    few challenges in organizing and operating these processes in an “end-to-end” fashion. In fact, a recent ScottMadden study showed that 63% of
    organizations still operate purchasing and accounts payable as independent functions.
    So how do we help these two streams speak the same language? How do we fix the disconnect and “operationalize” the P2P process to better
    serve the end customer?

    Aligning Business Drivers Between Finance and Procurement

    Learn about ScottMadden’s recommendations in this video.

    Contributing Authors
    Andy Flores
    Partner and Enterprise
    & Specialized Services
    Leader
    (https://www.scottmadden.com/person/andy-
    flores/)

    Jerred Crosby
    Partner and Corporate &
    Shared Services Practice
    Leader
    (https://www.scottmadden.com/person/jerred-
    crosby/)

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    Corporate &
    Shared Services
    We work step-by-step with clients to ensure each project’s success. Our strong team of consultants employs an adaptable framework to guide
    clients to the best decision for their unique situations. We do what we say we are going to do, with integrity, tenacity, and a genuine passion for the
    work throughout the entire project.
    Learn more about our Corporate & Shared Services (https://www.scottmadden.com/practice-areas/corporate-shared-services/) practice area.

    Let's get the conversation started.


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