Timely financial control over expenditure remains elusive for the majority of mid-market finance departments, according to the latest independent research from Invu. Despite continued attempts to impose greater controls over the purchase order process (POP), financial decision makers still lack real-time financial visibility and hence operational control.
The research into the views, processes and decisions of finance decision makers in UK medium sized businesses (MBs) was conducted by Red Brick Research and reveals:
- Reactive use of plans - 50% of businesses do not use budgets proactively
- 83% are not always paying their suppliers on time
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