The Challenge of Managing Spend
There has long been a desire on the part of CFOs to have their departments play a more strategic and active role in the management of their organization. Many envision moving Finance from a backward-looking stance of “bean counting” to an action-oriented business unit. This also likely involves changing the tone of its relationship with the rest of the organization, making it a facilitator as much as a control mechanism. However, achieving this goal can often be elusive. Many in Finance are so consumed by dealing with tactical, day-to-day issues that they are unable to focus on achieving strategic objectives.