• EBG | Webinar
  • EBG | Play
  • EBG | Summit
    • CPO Outlook 2022
    • Sourcing Outlook
    • Source 2 Pay Summit
  • EBG | Insight
  • EBG | Business Directory
  • About EBG | Network
    • Contact EBG | Network
    • Networking with EBG | Network
    • Privacy Policy

EBG | Network

Procurement and Finance Outlook Intelligence

EBG | Play: Finance and procurement – a fine romance or the best of enemies?

April 20, 2020 By ebgnetwork

Spread the word

EBG | Play: Finance and procurement – a fine romance or the best of enemies?

How can it be that it is still so hard to collaborate across functions? To find ways to ensure those great strategies are realized, savings met, automation enabled and cash optimization ensured.

Welcome to not only re-view the recent session enabled by Basware but also send in questions and answer the poll questions! How does Your situation compare with peers attending the live session? Find out!

You can >>go here to find the on demand session.

Q&A reflections

During the Q&A session we brought up the question, why is it hard to unify metrics and what stops organizations from having a more seamless integration between procurement and AP solutions.

One reflections was: “I see that the management are not giving guidance or “rules of engagement” and letting the AP and PO department “fight” over how it should be. Procurement want to systematize the way we work with our suppliers and the AP department and many users feel it it just “easier” to just pick up the phone or send an email to place the order. Without any clear strategy and guidance from management the organization will have a tough time to apply the “No PO, no pay” policy”

Another reflection was: “In my opinion, the reason for not having common metrics on spend and savings etc is that by nature, both finance and procurement viewing the data from different angles and seeing the data at different level of details. Other things are important for Finance and again others for Procurement.”

Competences coming together

Tuula Tuonen, Sushmitha Koka and Jason Vincelette at Basware shared the benefits and potential conflicts of working with an end-to end purchase to pay (P2P) process. How your organization can take steps towards maximizing process efficiency. We will also looked at P2P automation. How it can be the factor that aligns procurement and finance departments together.

EBG | Play On demand

To re-view, send in questions and compare your experiences with those attending live, go here.

Re-view and interact during “Finance and procurement – a fine romance or the best of enemies?”

Finance and procurement collaboration

Out of the many respondents, a clear majority do not scale their finance and procurement collaboration higher than a medium “3”. Having poll questions always open as many questions as it answers – one obvious here being why collaboration is not better than this.. The discussion at the end of the session might give some answers!

Collaboration increase initiatives

This poll question also open up many additional questions. Have the respondents experiences in shared metrics and seamless integration? (Given the responses during the previous question we think not) and hence choose it? In any case there are two clear “winners” here. The obvious advice would be to focus on creating and following up on shared metrics. (How do you define a saving, how do you work with POs and goods receipt, how do you work with days payable outstanding, how do you follow up on value creation etc.) Also evaluate and consider how seamlessly your procurement and AP department can exchange data, follow up on supplier performance and cash flow etc.

About Basware

Basware offers the largest open business network in the world and is the global leader in providing networked source-to-pay solutions, e-invoicing and innovative financing services. Our technology empowers organizations with 100% spend visibility by enabling the capture of all financial data across procurement, finance, accounts payable and accounts receivable functions. Basware is a global company doing business in more than 100 countries and is traded on the Helsinki exchange (BAS1V: HE). Find out more at basware.com.

More resources

Want more? Visit EBG | Play to re-view a number of great resources at no cost. Also follow EBG | Webinar so you don’t miss out on the next online session! Sharing is caring and EBG put a lot of effort into making joining live worth the time.


Spread the word

EBG | Network was founded in 2010. A cross functional, end-to-end business network focusing on improved sales and forecasting, increased spend under management and financial supply chain control. EBG bring people together online and in person who can help each other grow and develop.

Photo EBG | Network

>>Download the EBG Services Overview to learn more about what we do

EBG is managed by Anna & Lars – partners in business and life. Contact us today with any type (business) related questions! Contact us using the LiveChat function below.

Anna & Lars are partners in business and life. Together we run EBG bringing together peers and experts in an informal yet to the point way.

Anna Bjarkerud

Anna Bjarkerud

anna@ebgnetwork.com +46 735819302

Anna & Lars are partners in business and life. Together we run EBG bringing together peers and experts in an informal yet to the point way.

Lars Bjarkerud

Lars Bjarkerud

lars@ebgnetwork.com +46733500343

Find what you are looking for

CPO Outlook 2023 | October 18th & 19th | Stockholm

Having enabled true networking among peers and experts since 2010 it was evident that EBG | Network fill a gap when we finally could meet again in person in 2022.

In 2023 we meet again in Stockholm on October 18th & 19th. Are you a practitioner and want to host round table discussions or a workshop? Based on the very simple question “What would You want to discuss and share experiences about with a peer group?” Contact EBG for a discussion

Do you offer services or solutions for the end to end procurement community and want to have informal yet very concrete discussions? Contact EBG for a discussion.

What EBG offer is unique. Based on a solid understanding about change management and how to create networking meetings.

CPO Outlook 2023 Expert Organizations

CPO Outlook 2022 | Thank you to all who joined!

Download the 2022 program >>here or by clicking the image below (PDF)

Visit the Post Summit Page >>here

EBG | Webinar

EBG | Webinar: Obligation or Opportunity? The value of e-invoicing beyond compliance

With the continuous deployment of global e-invoicing regulations, businesses are facing a wave of mandated alterations to their current practices. France, Poland, Belgium, Germany, Spain, and Hungary are just some of the most recent countries under scrutiny to start making changes to prepare for these mandates. Even though many of these countries are already practicing […]

Newsletter opt-in – don’t miss out!

Name

Title

Company

Email-(only corporate addresses will be communicated with)

Leave this field empty
I agree to the processing of my personal data

Learn more about EBG Networking

Networking with EBG | Network

EBG | Business Directory – learn more about the market

EBG | Network will be listing competences and solutions in the area EBG work. Source 2 Pay is a broad area including everything from sourcing tools to cash management solutions. EBG do not help choose – but have a lot of material to share!

Follow the link below to the EBG | Business Directory

Clock the below link to enter the directory

EBG | Business Directory

Recent articles

EBG | Webinar: Obligation or Opportunity? The value of e-invoicing beyond compliance

With the continuous deployment of global e-invoicing regulations, businesses are facing a wave of mandated alterations to their current practices. France, Poland, Belgium, Germany, Spain, and Hungary are just some of the most recent countries under scrutiny to start making changes to prepare for these mandates. Even though many of these countries are already practicing […]

Scania join CPO Outlook 2023

EBG are having very interesting discussions with those who will join CPO Outlook 2023. Linda Grubbström, Head of Strategy and Purchasing Way and Gustav Milesson, Senior Business Developer | Purchasing – Strategy & Purchasing Way at Scania will join us! On October 18th and 19th you who join the summit can draw from their experiences […]

GEP join CPO Outlook 2023

Strategy, software and managed services – welcome GEP joining CPO Outlook 2023 as an Expert Organization. GEP knowledge stretches over a wide range of skill-sets helping organizations achieve their goals. On October 18th & 19th you who join us in Stockholm can join round table discussions hosted by GEP. Learning from their and the peer […]

Sievo join CPO Outlook 2023

A warm welcome to Sievo – offering procurement analytics for data-driven enterprises – to CPO Outlook 2023. On October 18th + 19th procurement professionals come together to draw from each others experiences in Stockholm. Sievo join as an Expert Organization and will host round table discussions – Theme Discussions. Imagine sitting down with like minded […]

EBG | Play: Cascading trust down all tiers of your supply chain

Or even more so – let’s re-visit Smoke Signals: Cascading trust down all tiers of your supply chain to build resilience and advantage. Together with Graham Copeland, Senior Director Business Development and Von Ying Lee, Consulting Manager at GEP we went through several aspects of corporate trust creation. Is Kraljic the problem? Most likely not […]

Join the EBG | Network

Copyright EBG | Network © 2010–2023 · Log in

This website uses cookies to improve your experience. You can opt-out if you wish Accept Reject Privacy Policy
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT