Procurement, a department that was once considered secondary and technical within companies, is now increasingly becoming relied upon by enterprises across the country.
It is the department that manages to the acquisitions of products and services. By analyzing the cash flow through this department, it is possible to draw out rich amounts of data, further optimizing spending. This paper outlines some of the following findings in procurement:
- Procurement teams are proving increasingly valuable and still have room to grow in the C-suite
- P-cards are being used to handle more expenses, increasing the amount of money going through the department and providing more data
- Improved document processes can lead to more accurate procurement practices
To learn more about procurement’s changing role in your enterprise and how you can use this department’s data to you advantage, take a look at this whitepaper.