Supplier Relationships is Top Concern for UK Finance Leaders as Brexit Deadline Looms

Of the 253 senior finance decision makers surveyed, 54 per cent cited supplier relationships as the part of their business most likely to be impacted by Brexit, above disruption with profits, customer relationships, and payroll. Furthermore, 51 percent of respondents said that on the day of Brexit, they expect to renegotiate contracts with their suppliers to return to business as usual. Of the 253 senior finance decision makers surveyed,54 per cent cited supplier relationships as the part...

LONDON, 16/10/2019 (informazione.it - comunicati stampa - information technology)

Of the 253 senior finance decision makers surveyed, , above disruption with profits, customer relationships, and payroll. Furthermore, 51 percent of respondents said that on the day of Brexit, they expect to

The survey also found that going into Brexit, , and 62 per cent said that they are not very confident in their company's spend decisions. Their views on stockpiling are evidence of this – nearly 66 per cent say they feel stockpiling is an effective precaution for businesses in uncertain economies.

"In today's environment, it's imperative that businesses have the visibility and control they need to respond quickly amid economic uncertainty, and that's no more apparent than what UK businesses face with Brexit," . "Having modern technologies will help companies navigate these changes by empowering them to establish the right supplier relationships and spend smarter every day."

As the situation with Brexit becomes clearer, businesses will immediately need to take steps to determine if their supplier contracts remain valid, how any cost increases will impact their profitability, and if necessary, how they will find new, local suppliers to avoid any business disruptions.

To prepare for Brexit, companies should consider following these five steps:

To learn more about how Coupa can help your company achieve greater visibility and control into your business spend to improve compliance, risk management, and more, click here .

This survey analytics report conducted by Opinium is based on a survey of 253 senior finance decision makers at UK-based companies with 500-plus employees. The survey was conducted during September and October 2019 .

Coupa Software is a leading provider of BSM solutions. We offer a comprehensive, cloud-based BSM platform that has connected hundreds of organizations with more than five million suppliers globally. Our platform provides greater visibility into and control over how companies spend money. Using our platform, businesses are able to achieve real, measurable value and savings that drive their profitability. Learn more at www.coupa.com . Read more on the Coupa Blog or follow @Coupa on Twitter.

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