{"id":2961,"date":"2010-10-05T14:52:00","date_gmt":"2010-10-05T14:52:00","guid":{"rendered":"https:\/\/www.certitrek.com\/nlpa\/2010\/10\/05\/procurement-finance-collaboration\/"},"modified":"2021-07-27T09:34:45","modified_gmt":"2021-07-27T13:34:45","slug":"procurement-finance-collaboration","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nlpa\/blog\/procurement-finance-collaboration\/","title":{"rendered":"Procurement-Finance Collaboration"},"content":{"rendered":"<p>I hope that you have enjoyed the article \u201c<span style=\"font-size: 100%\">How Procurement &amp; Finance Can Collaborate.\u201d<\/span><\/p>\n<p>Don\u2019t miss updates on Procurement &amp; Supply Chain, Subscribe here!<\/p>\n<p>One of the keys to facilitating good procurement-finance collaboration is to \u201cspeak the same language\u201d \u2013 using the same terms to describe finance-related things. I always reference the use of \u201ccost avoidance\u201d as an example to illustrate the differences in terminology used by procurement folks and finance folks.<\/p>\n<p>In procurement, the term \u201ccost avoidance\u201d is used all the time. But I\u2019ve never heard a CFO say \u201ccost avoidance\u201d on an earnings call with investors.<\/p>\n<p>Do you think that there is a clue in that?<\/p>\n<p>I do.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I hope that you have enjoyed the article \u201cHow Procurement [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":4118,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2961","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-procurement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Procurement-Finance Collaboration - Next Level Purchasing Association (NLPA)<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/procurement-finance-collaboration\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Procurement-Finance Collaboration - Next Level Purchasing Association (NLPA)\" \/>\n<meta property=\"og:description\" content=\"I hope that you have enjoyed the article \u201cHow Procurement [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.certitrek.com\/nlpa\/blog\/procurement-finance-collaboration\/\" \/>\n<meta property=\"og:site_name\" content=\"Next Level Purchasing Association (NLPA)\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NextLevelPurchasing\/\" \/>\n<meta property=\"article:published_time\" content=\"2010-10-05T14:52:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-27T13:34:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/11\/nlpa-images-128.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1067\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Galo Matagay\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:site\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Galo Matagay\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/procurement-finance-collaboration\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/procurement-finance-collaboration\/\"},\"author\":{\"name\":\"Galo Matagay\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/person\/72d094fab77892483dfa6e061cb27eaa\"},\"headline\":\"Procurement-Finance Collaboration\",\"datePublished\":\"2010-10-05T14:52:00+00:00\",\"dateModified\":\"2021-07-27T13:34:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/procurement-finance-collaboration\/\"},\"wordCount\":113,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#organization\"},\"articleSection\":[\"Procurement\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.certitrek.com\/nlpa\/blog\/procurement-finance-collaboration\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/procurement-finance-collaboration\/\",\"url\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/procurement-finance-collaboration\/\",\"name\":\"Procurement-Finance Collaboration - 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