@Risk

The global economic crisis sent shock waves through every business organization, and understandably, over the past few years, certain executive relationships have fundamentally changed.

For example, in many organizations, CPOs and CFOs are collaborating in new ways, now that CFOs are beginning to realize how optimization of procurement function results in significant business benefits (cost containment, competitive advantage, etc.)

Aberdeen Group takes a close look at these evolving roles in a recently released white paper, titled “The CFO’s View of Procurement: Work in Progress.”

According to the report: (more…)

The authors of Basware’s new research report, “Cost of Control: The Real Price of Cost Cutting,” describe it as “a true call to arms” for CFOs and CPOs. I agree. This study explores the fundamental relationships between finance and procurement professionals and concludes –rightfully so –that success in today’s volatile, ultra-competitive economy depends on a coordinated and collaborative response between CFO (purse string) controllers and CPO (supply chain) gatekeepers.

Here are a few key insights from the report: (more…)

More than one-third (38%) of manufacturing CFOs and senior comptrollers surveyed by Grant Thornton LLP do not expect to see the U.S. economy coming out of the current recession until the second half of 2010.

Interestingly, nearly 27% expect the recession to end sooner, during the first half of 2010, and about 15% are even more bullish, predicting the recession will end by the end of 2009.

But, another one-fifth (20%) of CFOs don’t expect to see a turnaround until 2011 or beyond. All told then, about 58% of the CFOs surveyed don’t see the recession ending until the second half of 2010, or beyond.

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Risks associated with the supply chain issues are now top of mind among CFOs, finance directors, and heads of operational risk, according to a recent survey by the Institute of Chartered Accountants in England and Wales and disaster recovery specialist SunGard Availability Services.

More than 70% of those polled said the risk of disruption caused by supply chain issues had dramatically increased over the last year. Likewise, they also cited new concerns over the stability and resilience of smaller supplies and partners during these tough economic times.

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I’ve posted before about the critical need for CFOs to recognize that supply chain operations are integral to risk and fundamental to both bottom line performance and cost savings goals.

Now, Dr. Matthew Lees, UK Country Manager, Basware, has artfully outlined three specific steps that procurement and finance can take together to enhance risk management. According to Lees, these steps include:

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