Are you using benchmark data to drive business decisions? While more data is 𝘨𝘦𝘯𝘦𝘳𝘢𝘭𝘭𝘺 better, using data out of context from other companies can be a double edged sword. Here are some things to watch out for:

The Best Offense Is A Great Defense Many think playing defense at a company is just cutting costs ✂️ While cost cutting is definitely part of it, it’s really a 𝐜𝐡𝐚𝐧𝐠𝐞 𝐢𝐧 𝐦𝐢𝐧𝐝𝐬𝐞𝐭 on how to win in the long run 🏆 My favorite 3 defense tips that don’t involve pure cost cutting:

Right now, Generative AI reminds me of a freshman on varsity. Super talented and high potential, but needs the right mentorship and guidance. ⛹🏻‍♀️ Still has quite a few silly mistakes! In this example here, ChatGPT could have easily used ChatGPT in its own onboarding flow to reduce friction. When thinking of ChatGPT use cases for Finance and Procurement, the immediate issues are similar to this example where there's a disconnect.

For all the GTM teams with quarter end today - good luck! ⌛️ For all the buyers in procurement and finance working with someone with a quarter end today - enjoy your Friday 😎

Forecasts don't matter if you can't execute. I've seen many finance teams make the 𝐦𝐢𝐬𝐭𝐚𝐤𝐞 where they invest in a modeling tool that doesn't do budget collaboration and alerting. Invest in a product that can easily share your financial data in a way that is actionable to your business users.

Strategic procurement versus tactical procurement.... what's the difference? Strategic procurement leaders: ✅ Understand budgets and have access to spend analytics ✅ Don't feel obligated to get the deal done if it's not good for the business ✅ Are constantly evaluating top suppliers and understand tradeoffs Tactical procurement: ☑️ Checks the boxes...worries more about AP ☑️ Doesn't ask why...gets a deal done just to get a deal done ☑️ Not aware of budgets or historical vendor context