Case Study: Leading Insurance and Financial Services Organization achieves double-digit procurement savings and streamlined sourcing with GEP

Streamlining Procurement Processes to Increase Savings

A leading U.S. diversified insurance and financial services organization (A+ A.M. Best) faced a highly complex, fragmented North American procurement function spanning five business sectors and multiple ERP systems. The client sought an on‑demand procurement partner to provide consulting, technology and category management to drive long‑term savings and simplify procurement processes.

GEP deployed a blended consulting, technology and outsourcing model, developing a multi‑year savings plan based on spend analysis, benchmarking, contract timing and implementation complexity, and executed roughly 25 category projects annually with on‑site and offshore teams and a detailed compliance framework. The engagement managed about $500M in annual spend, delivered double‑digit savings across most categories that hit the bottom line, and combined centralization with third‑party outsourcing to give the client on‑demand access to category expertise and GEP’s RFx, Auction and Spend tools.