Case Study: Global 500 Life Insurance and Financial Services Company achieves $60M+ in savings and transforms procurement operations with GEP SMART

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

A Global 500 life insurance and financial services company with more than $835 billion in assets under management, over $35 billion in annual revenue and roughly 25,000 employees needed to modernize a 20‑year‑old procurement landscape. Its legacy ERP could not provide end‑to‑end source‑to‑pay visibility, slowed spend analysis and approvals, left much spend unmanaged, and raised concerns about protecting large volumes of sensitive financial data.

The firm deployed GEP SMART—integrated with its ERP, configured for sourcing, contract, supplier and spend management, and supported by an on‑site GEP team—to replace the legacy system. Over six months more than 2,500 contracts and 63,000 transactions ($3 billion) were migrated and analyzed, driving 90%+ spend‑analysis accuracy, faster approvals, high adoption (800+ active users), $4.2 million in orders in the first two months and more than $60 million in savings over three years, plus a single‑point view for financial risk and improved data security.