Introduction to Procurement Finance
The world is changing. The changes impact also on the organizations, which need to adapt and become more agile. Procurement is becoming more important in the organizations transforming its objectives from cost savings to value adding. Procurement is moving from the role of support to a primary contributor to the value for the customers. Procurement finance has an important role in supporting this transformation. Procurement finance is the holistic view of the relationships between procurement and finance. It includes trade finance, supply chain finance, and vendor payments. This integration and coordination go well beyond the traditional roles of the sourcing organization to be in sync with the entire organization and its strategy.
This chapter includes also a list of abbreviation and the websites of many organizations which support all the processes of procurement finance.