Creating a CFO/CPO Strategic Partnership

The paper argues that Finance and Procurement should operate as one team rather than two parallel tracks. Procurement sits closest to market developments and operational cost drivers, and the report makes the case for building that knowledge into financial target setting and planning.

A central section deals with spend visibility. The report explains why many organisations lack a complete view of their external spend, linking it to taxonomy, consistent application across the organisation, compliance and administrative accuracy. Without that view, target setting and monitoring rest on flawed information.

The paper also covers joint objectives, tools and processes, policies for operating expenses, and how savings should be reported. A recurring point is that identified savings are not the same as a realised effect on the bottom line — a principle close to JMF Europe's own way of working.