Case Study: a Global 500 life insurance and financial services company saves $60M+ with GEP SMART

Major Financial Firm Transforms Procurement, Saves $60M+ With GEP SMART™

A Global 500 life insurance and financial services company was hindered by a legacy ERP system that provided limited visibility into its procurement operations. This lack of a unified view impacted transparency, compliance, and efficiency. The company partnered with GEP to implement its GEP SMART platform, seeking to integrate all procurement functions, improve data security, and streamline its source-to-pay operations.

GEP configured and deployed the GEP SMART platform, integrating it with the client's existing ERP and successfully migrating over 2,500 contracts. The implementation provided complete procurement visibility and process automation, leading to over $60 million in savings realized from $3 billion of analyzed spend. The solution also achieved high user adoption with over 800 active users and facilitated the execution of $4.2 million in order transactions within the first two months.