The procurement function is a critical area of organizations where spend is a top priority. The Controllership function is involved in spend management. It is logical that the Controller should take a role in working with the procurement function.

The procurement function may report to various areas within an organization including the Chief Operating Officer (COO), Chief Procurement Officer (CPO), Chief Executive Officer (CEO) and the Chief Financial (CFO) or Accounting Officer (CAO). Regardless of the reporting line of the function, the accounting and controllership functions must have an integral understanding of all processes involved within procurement. This understanding assists the controller and accounting area in properly optimizing and controlling costs associated with the process.

This course is one of a series of courses on the Controllership process. Other courses include:

  • The Controllership Series: The Controller Function - Elevating the Role
  • The Controller Function - Strategic and Annual Planning
  • GAAP Principles, Assumptions and Considerations
  • The Treasury Function Part - Cash, Liquidity and Investments
  • The Controller Function - Cash and Investments
  • ASC 842 Accounting for Leases - Deep Dive
  • Revenue Recognition (ASC Topic 606) Standard Overview
  • The Controller Function - Inventory Part 1
  • The Controller Function - Inventory Part 2 – Inventory valuation, physical inventory methods and inventory fraud
  • The Controllership Function: Overhead, direct and indirect costs and allocation methods
  • The Controllership Series: Financial Statement Preparation and Presentation
  • The Controllership Series: Analyzing Financial Ratios – Leverage
  • The Controllership Series: Analyzing Financial Ratios – Performance and Efficiency
  • The Controllership Series: Analyzing Financial Ratios – Solvency, Liquidity and Debt
  • The Controllership Series: The Controllers Role in Data Analytics and Big Data
  • The Controllership Series: The financial close process
  • The Controllership Series: Sales, Collections and Customer Credit
  • The Controllership Series: The Controller’s Role in ESG
  • The Controllership Series: The Controller’s Role in Pro Forma Financials
  • The Controllership Series: The Controller’s Role in Financial Forecasting
  • Tools for the Controllership Series Certificate
Learning Objectives
  • Defining the typical procurement process.
  • Defining procurement vs. the Controller’s role in purchasing.
  • The procurement process and its ties to the controllership process.
    • Examine a job description of a potential Procurement Controller.
    • Examine the Financial Controllers potential role in the procurement process.
  • Ways to synergize the Controller’s role with procurement.
  • Examine other potential responsibilities for the Controller.
Last updated/reviewed: August 19, 2023
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Included In Certifications

This course is included in the following Certification Programs:

20 CoursesThe Controllership Series Certification

  1. The Controllership Series: The Controller Function - Elevating the Role
  2. The Controllership Series: The Controller Function - Strategic and Annual Planning
  3. The Controllership Series: The Controllers Role in Financial Forecasting
  4. The Controllership Series: Future Role of the Controller – Part 1
  5. The Controllership Series: Future Role of the Controller – Part 2
  6. The Controllership Series: The Controller Function - Cash and Investments
  7. ASC 842 Accounting for Leases - Deep Dive
  8. The Controllership Series: The Controller Function - Inventory Part 1
  9. The Controllership Series: The Controller Function - Inventory Part 2 - Inventory Valuation, Physical Inventory Methods and Inventory fraud
  10. The Controllership Series: Overhead, Direct and Indirect Costs and Allocation Methods
  11. The Controllership Series: Financial Statement Preparation and Presentation
  12. The Controllership Series: The Controllers Role in the Procurement Function
  13. The Controllership Series: The Role of The Controller in ESG
  14. The Controllership Series: The Controllers Role in Pro Forma Financials
  15. The Controllership Series: The Controllers Role in Data Analytics and Big Data
  16. The Controllership Series: Introduction to the Financial Close Process
  17. The Controllership Series: Managerial Accounting Basics and Cost Principles
  18. The Controllership Series: Sales, Collections and Customer Credit
  19. The Controllership Series: Addressing Cash Flow and Forecasting Uncertainty
  20. Tools for The Controllership Series Certificate
12 Reviews (72 ratings)

Reviews

4
Anonymous Author
This was a helpful overview of the ways for controllership to collaborate with procurement and realize benefits such as increased visibilty and spend control to drive value for the business. Technology improvements and developments with things such as global e-invoicing could be discussed further in this course (or extensions thereof).
5
Anonymous Author
This course was very helpful when evaluating IT spend at our company. Helped me to think about how I as a controller can team with procurement to accomplish a common goal and deliver better products for our employees, while staying within the budgeted amounts for the year.
5
Anonymous Author
I totally agree with her that though FC and Procurement team have difference perspective of procurement function, there are lots of synergies of them working together towards common objective of the company. Great stuff!!!
5
Anonymous Author
It's an interesting look at how finance and procurement work together and how they see things differently. This helps change some of the ways that I look at procurement processes at work.
5
Anonymous Author
Great course, it was short and crisp, anyone who has managed Payables process could vouch for the importance of the points discussed in the slides.
5
Anonymous Author
This was a well done course. I have appreciated all of the courses in the Controllership series and this is no exception
4
Anonymous Author
Enjoyed this brief overview that highlighted the synergies between the controller and the procurement team.
5
Anonymous Author
This course gets you thinking about inter-departmental collaboration, which is so important.
5
Anonymous Author
Lynn provided good examples of how an why accounting and procurement should work together
5
Anonymous Author
A helpful course outlining the ways that procurement and controllers can work together.
5
Anonymous Author
This was a helpful review of controller's role in procurement. Thank you.
4
Anonymous Author
Somewhat simplistic view but there are times simple is better.
show all reviews
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
  Course Overview CPE
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to The Controller Role in Procurement Function4:34
  Defining the Procurement Process17:28
  Defining the Procurement Vs. Controllers Role5:08
  The Procurement Process and Its Tie to Controllers Role7:32
  Involvement of The Controller13:50
  Creating Synergies12:42
  Other Potential Responsibilities1:28
  Summary2:26
CONTINUOUS PLAY
  The Controller's Role in Procurement Function1:05:08
SUPPORTING MATERIAL
  Slides: The Controllership Series: The Controllers Role in the Procurement FunctionPDF
  The Controllership Series: The Controllers Role in the Procurement Function Glossary/IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam