Analyst Insight: Procurement departments have spent the last 20 years perfecting procurement by automating procurement systems and standardizing highly competitive Request for Proposal processes. This works well when buying commodities and transactions, but falls short for organizations looking for collaborative supplier relationships where flexibility and innovation are essential. Today's progressive procurement organizations are re-evaluating their approaches and are making a conscious shift along the sourcing continuum. - Kate Vitasek, faculty member, University of Tennessee's Haslam College of Business Administration

Analyst Insight: Successful supplier payment term extensions only happen when procurement receives the right training and ongoing support. Before companies implement an extension with suppliers, they must first understand the traits (and barriers) to success. Procurement should be viewed as a strategic lever to improving working capital and given a seat at the table during the selection and implementation process. This will pave the path to a successful supply-chain finance program and optimized cash flow. - Tom Roberts, senior vice president of global marketing, PrimeRevenue

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