What will you learn?
In most organizations, procurement and FinOps are two distinct entities. They’re siloed technologically. And their responsibilities differ. But distinctions between the two teams are eroding. And their priorities and responsibilities have begun to intersect. More and more every day, they depend on each other.
But that comes with certain operational mandates. For either procurement or FinOps to function to the best of their abilities—and to most positively affect business outcomes—more than ever, they need to be aligned and equipped to collaborate. Supporting more seamless and symbiotic collaboration between the two can lead to cost savings, more informed insights, better demand planning, a better understanding of the vendor landscape, better decision-making, and less time-consuming processes. It also mitigates risk—by helping organizations determine with greater fidelity what technologies to invest in, for example.
Download this whitepaper for principles to follow and concrete next steps to take in order to achieve this alignment and equip your FinOps and procurement teams to work better together.
How to refine and reinforce governance structures between FinOps and procurement teams to help them work better together more systematically. This will ensure your organization maintains a holistic, circumspect understanding of its payment considerations, among other things.
How to centralize the intake-to-procure process using intelligent automation. A centralized intake process provides complete visibility into the approval process. Procurement professionals can spend more time strategically thinking about how they’re going to save the business money rather than wasting time manually chasing approvals from finance, legal, and other teams.
How to use technology to automate cross-team and cross-system workflow. An intelligent request automation platform can automate away much of the manual work entailed in this kind of “in-between” work, while lending structure, support, and tracking to the task of triaging and coordinating responses. It adheres unstructured requests to a standardized process that team members on both sides can scale and trust.
One core problem with the employee onboarding process today is that it’s spread out over so many different tools and systems, few of which play nicely with each other. One solution is to centralize all of onboarding’s disparate parts into one highly actionable, fully integrated portal view.
On average, more than half of every employee’s day—58% of the work we do—cannot be accounted for. Much of that time is lost to triaging and coordinating responses to inbound requests. HROps teams can create workflow solutions that promote self-service and autohandle FAQs.
The average enterprise uses anywhere from 110-240 apps. HR can improve the employee experience by reducing the number of interfaces employees need to learn how to use and toggle between. The key is designing processes that accommodate employee preferences.