Case Study: Global 500 Life Insurance and Financial Services Company achieves $60M+ in savings and unified procurement visibility with GEP SMART (GEP)

Global 500 Financial Services Company Transforms Procurement, Saves $60M+ With GEP SMART

A Global 500 life insurance and financial services company with about $835 billion in assets under management, more than $35 billion in annual revenue and 25,000 employees faced limited procurement visibility from a 20‑year‑old legacy ERP. Critical approvals and processes lived offline, which hindered transparency, slowed spend analysis, increased compliance risk and left the firm seeking a secure, unified source‑to‑pay platform to bring enterprise spend under management.

The firm deployed GEP SMART, integrating it with the legacy ERP, configuring end‑to‑end S2P, contract, supplier and spend management, migrating 2,500+ contracts and placing a dedicated on‑site GEP team to run day‑to‑day activities. The platform delivered complete transactional visibility, analyzed ~63,000 transactions (~$3 billion) over three years with ~90% spend‑analysis accuracy, drove savings of over $60 million, achieved 800+ active users and enabled $4.2 million in order transactions within the first two months, while improving approval speed and financial risk assessment.