Visibility Whitepaper - CFO's Guide to Spend Visibility

Unfortunately, outside of the top 20 percent of vendors with which the
company does business, the supplier records will probably not be readily
accessible.
And heaven forbid the vendor in question for a
particular invoice has been inactive for a substantial
period of time. In that case, its records may have been
shipped offsite to a secure “cold storage” facility, which
will make it very difficult to access, to say the least. After
all they don’t call it Iron Mountain for nothing!
Even if these vendor invoices and other records exist electronically, if they happen
to be kept in an on-premises storage and retrieval system, they could be very
cumbersome to access. CFOs—especially CFOs of publicly traded companies—are
on the road a lot, talking to investors and may have to wait to get back into the office
to log in and see what they can see. By then, it could be too late! That 80 percent
of vendors who constitute 20 percent of corporate spend must have their records
properly systematized.
Procurify | CFO’s Guide to Spend Visibility 10