The Pandemic’s Impact on Business Spend Management
In the post-pandemic world, resistance and stress tests will become a new norm as procurement and finance departments face unprecedented pressure and draw an increasing level of scrutiny.
To be better prepared for future disruptions, companies are now investing in reducing their supply chain and overall financial risk. With an increased amount of information at their fingertips, they need to know exactly which suppliers, locations, and products are under threat, allowing them to secure constrained inventory and capacity at alternate sites.
- What is the biggest challenge finance and procurement leaders have been facing during the crisis? What strategies or key actions should be taken to meet the challenge?
- How can companies improve their spend management and interactions with suppliers? Is cost improvement as important as supply protection?
- Which area of procurement and finance operations needs to be transformed over the next 1-2 years to enable company survival beyond the crisis?