As global demand continues to drop for many goods and services, fears of a worldwide slowdown and a “coronavirus recession” loom large over corporate leaders. Chief Financial Officers (CFO’s) are scrambling to do sensitivity analyses to understand their profit outlooks and cash needs. Procurement and sourcing teams can play a significant role in reducing supplier spend and improving cash flow by using spend analysis to leverage data in the ERP, contract management, and procure-to-pay systems
As the business environment begins to contract due to the coronavirus recession, procurement teams have an opportunity to save the day – delivering spend reductions that avoid painful layoffs and help their companies to weather the storm.
Procurement & finance teams and anyone with a 401k witnessed the extreme volatility of the stock market during the week of August 12th. The financial markets are predicting a near term recession. The US-China Trade War is causing a global slowdown. It is hitting Asia and Europe first. The US economy seems very strong right … Read More