Sony Music Entertainment has established a global financial systems strategy using a standard SAP template that aligns Procurement for a common footprint. This strategy has been deployed in 27 countries and is planned to roll out to all Sony Music territories. In adopting this approach, several challenges have been addressed pertaining to controlling cost, standardizing a purchasing solution, managing critical services spend, globalizing data and declining industry revenue. As a result, there is now one global purchasing solution for all five continents of operation. They have also streamlined invoicing through one shared services center, improved supplier relationships and gained real-time visibility on the businesses through budgets. All of this has resulted in one global version of truth.

Topics covered in this session included:

• How to manage complexity based on global requirements
• Best practices for aligning Finance and Procurement needs
• Benefits of standardizing financial systems and processes
• How global organizations are positioning this strategy for the future

 

Contributors: Determine
Categories: 2017 Spring - Amelia Island, Summit Presentations
SRC Type: eSourcing and Tools, Outsourcing, Procurement Operations, Procurement Outsourcing / Transformation