It’s a major understatement to say that 2020 was a challenging year. The pandemic and its subsequent global events profoundly affected us all. We had to cope with drastic changes in both our personal and our professional lives.
Those of us in the business spend management (BSM) community faced challenges that were unlike anything we’d seen before. We had to figure out how to quickly secure personal protective equipment while facing global shortages, manage suppliers who were at risk of going under or being unable to meet their commitments, control costs urgently for the financial health of our businesses, protect cash flow by providing up-to-date visibility into liabilities and by optimising payments to suppliers, support the rapid shift to online services, re-examine our supply chains from the perspective of diversity and inclusion, in addition to sustainability, for better ESG.
Our CEOs and boards, along with society as a whole, appreciate the critical importance of our supply chains, supplier relationships, cash flows, and ability to respond to disruptions. With that recognition comes greater responsibility – our organisations are relying on us to lead. We now have a significant opportunity to move from a position of resilience and survival to one of renewal and readiness for anything that the future brings.
Download this whitepaper by Coupa to find out how you can revitalise your business spend management processes in ways that make your organisation stronger, smarter, and safer.
