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One of top 10 largest Insurance companies engages Xoomworks for global procurement transformation project

by | July 21, 2016

Xoomworks Procurement is pleased to announce the signing of one of the top ten* largest diversified insurance companies in the world. The client has engaged Xoomworks expertise to assist with a global procurement transformation project, which aims at achieving ‘best practice’ with a joined up, efficient, well understood and easy to use solution, covering the entire Source to Pay process – across the whole of their business.

Currently the client are running an overly customised on premise buyer platform. It takes ½ a day to raise a requisition, and they face large data management issues on a daily basis, with 75% of monthly tickets raised being data or approval related. At the same time Local autonomy is causing duplication across the organisation, and differing processes are resulting in higher costs for the business.

The client, who serves its customers in both global and local markets, doing business in more than 170 countries across 6 continents, recognised the business opportunity presented by building a single team approach across the group, with a clear technology strategy and roadmap, transforming their business from where they are today into a world class procurement organisation.

“Xoomworks has had a number of smaller scale engagements with the Client leading up to this current piece of transformation work,during which it was recognised that our teams strategic advisory, technical knowledge, and behavioural change capabilities would aid and complement those already in place, It’s a fantastic vote of confidence in Xoomworks’s capabilities to effect transformational change even in the largest of Global organisations.”

Ian Dagg

Xoomworks have been engaged to conduct analysis based on their Complete Procurement Framework – a tool that has been used successfully in a number of organisations to understand where procurement should focus to deliver greater benefits to the organisation, in this case specifically: aligning processes across different localities, elevating the Procurement function’s influence within the group, and delivering both short and long term sustainable savings.