Value of Solvoz to Financial Officers
The challenges you face
As a financial officer within our sector, you oversee all financial aspects of your organisation’s spending. Your role therefore includes managing all procurement processes and optimising the use of often limited financial resources.
In close collaboration with your procurement colleagues, you play a pivotal role in guaranteeing the accountability and compliancy of your organisation’s procurement strategy and any subsequent procurement activity. This includes making sure that all transactions adhere to your internal Code of Conduct and the rules and regulations of major donors.
However, these efforts to promote financial transparency and compliancy are often complicated by your organisation’s extensive geographical spread. This requires you to navigate the use of various currencies and the applicability of region-specific regulations.
Our sector’s current reliance on paper-, Excel- and email-based documentation also acts as an additional challenge to your work. These existing systems can make it harder for you to manage and retrieve crucial data and increase the time required to complete your annual audits.
Consequently, due to the nature of working as a financial officer in our sector, you are likely to have a comprehensive understanding of the importance of thorough market assessments, auditable digital systems and rigorous supplier qualification to efficient and responsible procurement.
So how can Solvoz support you in your role?
Solvoz provides your finance department with a transparent and auditable system that fully complies with major donors’ rules and regulations, and guarantees that all transactions are conducted with the utmost integrity.
Within the Solvoz platform, you can fundamentally integrate your organisation’s Code of Conduct into your procurement processes, reassuring you that outlined ethical standards are upheld at every stage of the procurement cycle.
For example, your supplier qualification requirements can be translated into customisable questionnaire templates that are stored in a shared working environment within the Solvoz platform. Here, these templates and other required documentation, can then be centrally updated, shared and applied by different personnel. This helps to ensure a consistent and transparent approach to evaluating your potential suppliers. Visit our page on Supplier Qualification to learn more about this.
At Solvoz, we also recognise that a robust partnership between an organisation’s finance and procurement departments is crucial to the realisation of more responsible and effective procurement. This is why our platform also provides organisations with a shared Solvoz working environment that facilitates enhanced intra- and inter-departmental collaboration. In helping to cultivate improved communication and cooperation between different teams, Solvoz can support you, your department and wider organisation to more readily achieve your shared and strategic financial goals.
Want to learn more about how Solvoz could support you and your finance department?
If you want to learn more about how we could support you and your organisation to achieve greater impact and efficiency through your procurement processes, then please get in touch.
We look forward to hearing from you.