We’re introducing FinOps, our new integrated purchasing system, which combines purchasing and finance on one platform. It automates approvals, links spending to budgets, and gives budget holders full visibility to manage spend effectively.
Why It Matters:
Ensures all spending is planned, approved, and tracked against budgets
Controls costs, reduces errors, and provides transparency and accountability.
Current Challenges:
FinOps brings speed, accuracy, and control to purchasing, invoicing, and budget management across the business.
Why It Matters:
Ensures all spending is planned, approved, and tracked against budgets
Controls costs, reduces errors, and provides transparency and accountability.
Current Challenges:
- POs are manually raised and approved inconsistently
- Budgets aren’t visible in the system, limiting financial oversight
- Finance struggles to track committed spend and forecast accurately.
- All POs (except HVAC) will be raised centrally by the Purchasing team
- Budget holders will approve spend from their budgets
- Invoices will be automatically matched to POs and aligned with budgets.
- Goods/services must be confirmed received before payment.
- Faster, more accurate purchasing and payments
- Greater budget control and visibility
- Clearer accountability and compliance.
- Request POs via @Purchasing
- Approve POs promptly and confirm receipt of goods/services
- Track spend and budgets during review meetings.
FinOps brings speed, accuracy, and control to purchasing, invoicing, and budget management across the business.
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