Following a study of CFOs conducted in June 2009 that showed only 28% of businesses associate financial risk with procurement, this new global report provides compelling insight into how large organizations are struggling with risk evaluation and cost control. Cost control and reduction has become ‘the new normal’ going into 2010, with the urgency for reactive cost cutting measures continuing to supersede longer term investment driven directives. The report also identifies a growing trend for increased levels of finance and procurement collaboration as well as transparency amongst businesses seeking to overcome finance and purchasing challenges.

The Cost of Control: The Real Price of Cost Cutting is the second phase of a piece of research conducted in June 2009 that identified key issues around the strategic challenges facing purchasing and finance functions within large organizations. The Cost of Control: The Real Price of Cost Cutting study features insight from CFO, CPO and equivalent level roles in large organizations with 20 surveyed in-depth across the USA, UK, Germany and Scandinavia. The June report investigated the issues impacting finance and procurement and features insights from 550 CFOs from the USA, UK, Scandinavia, Germany, Spain, Benelux and France.

"It would be beneficial for the company if the procurement and finance departments would communicate more efficiently with one another" – CPO

"There is only so much cost cutting that we can do within the supplier base until the systems and processes we work by have to deliver cost savings" – CPO

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Cost of Control – The Real Price of Cost Cutting, November 2009

Cost of Control, June 2009