(Buckingham Palace, London. Photo credit: Diliff.)
The Royal London Mutual Insurance Society (London), the U.K.’s largest mutual life insurance and investment company, with over $150 billion in funds under management, has selected the SMART by GEP (Clark, N.J.) procurement solution, which the vendor describes as a cloud-native sourcing, procurement and spend management software platform. Royal London will use the system for full source-to-contract (S2C) operations, including spend analysis, savings management, sourcing, contract management and supplier management.
“After an extensive selection process, we have opted to partner with GEP who we believe offers a solution that enables us to significantly enhance our sourcing proposition,” comments Ben Jeffery, head of sourcing operations, Royal London. “This partnership will enable us to deliver efficiencies throughout the sourcing life cycle through better opportunity and spend analysis, improved market insight, a more streamlined tender process, improved contractual oversight, enhanced risk management, and ultimately, a better experience for suppliers and other third parties.”
The vendor further describes SMART by GEP as a unified source-to-order software platform serving as a complete procurement platform that unifies all the functions of procurement in a single product that is native to cloud, touch and mobile technologies. GEP asserts that the solution scales easily to handle the heaviest processing requirements of large global enterprises while delivering the infrastructure and support efficiencies of cloud-based software.