Three cheers for the procurement team — they’ve delivered some hard, quantifiable savings for the business. Now over to you, finance — what happens to these savings? What’s the best way to get a handle on them and use them to drive enterprise profitability and competitiveness? Is there an effective strategy that won’t force you to micromanage the savings flow?
In this new paper — 3 Finance Strategies to Utilize Procurement Savings — experts explain how CFOs can (and should) align procurement-led savings with the company’s financial objectives, depending on the company’s phase of growth. The paper also outlines the right mechanism for allocating these savings between net income and reinvestment.
- The Savings Strategy Quadrant — identify your ideal income/reinvestment ratio
- Converting budget reductions into cross-functional collaboration
- A Fortune 500 case study
A must-read for CFOs and finance professionals looking to create significant value for the enterprise.