A way to go for CPOs in winning CFOs' respect

Cost-cutting has moved up the agenda in the downturn, but CPOs still have a long way to go to win respect from CFOs.

Iain Rayner works in finance and, with a background in strategic sourcing, also understands procurement. If a survey of 550 finance directors and chief financial officers released this week is anything to go by, he occupies an unusual position.

The research, carried out for software company Basware, showed how closely finance and buying are linked in large firms.

This was backed up by two other pieces of research released in the past week. Findings from Emptoris suggest more than half of procurement departments work "hand-in-hand" with finance. And interim results from a Chartered Institute of Public Finance and Accountancy/Civica study indicate efficiency savings and value for money are top of the agenda for UK local government finance directors - and they are close to the hearts and minds of buyers.

Despite shared interests and close working relationships, the Basware research found finance and procurement still have trouble connecting - to the detriment of purchasing's reputation.

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