Case Study: International Flavors & Fragrances (IFF) streamlines procurement and drives tens of millions in savings with KPMG

International Flavors & Fragrances (iff) identifies $43M in value with KPMG

International Flavors & Fragrances (IFF), a global leader in food, beverage, scent, health, and biosciences, faced fragmented procurement processes after a series of acquisitions. This led to decentralized systems, maverick spending, and inconsistent pricing. To address this, IFF partnered with vendor KPMG to optimize procurement and streamline the end-to-end user experience, aiming to implement an integrated, AI-enabled source-to-pay platform.

KPMG launched a comprehensive buying-channel assessment, which identified over 20 savings initiatives. The vendor led the implementation of a leading S2P solution, integrating numerous systems to create a standardized global procurement entry point. This transformation generated $43 million in identified value, paid for its own implementation within six months, and unlocked an additional $35 million in potential savings. KPMG also helped onboard over 1,000 suppliers, establish procurement catalogs, and create a Procurement Center of Excellence, shifting IFF's procurement to a strategic, data-driven function.

International Flavors & Fragrances (iff)