Financial officers need to place greater emphasis on managing risks within their supply chains, experts have advised.
Research by Loudhouse and Basware found that many are neglecting this issue in favour of cutting costs across the business.
The group described this finding as "alarming" and has therefore warned that financial officers are not treating supply chain dangers seriously enough.
This, it said, is despite the fact that this area could significantly boost a company if it is properly managed.
"Procurement is a vital function that can give a business the edge when times are economically tougher," stated Steve Muddiman, spokesperson for Basware.
However, figures showed that only one in four chief financial officers believe this area has a positive impact on their profitability.
Mr Muddiman added that this suggests the wider supply chain is not seen as a "significant contributor to bottom line performance."
This comes after Ernst and Young revealed that nearly half of businesses have made wholesale changes to their operating models in order to cope with the recession.
