When it comes to efficiently managing the procurement process, there’s no better place to do it than the Cloud. And with the help of applications from Ariba, an SAP Company, Storebrand ASA, a leading player in the Nordic markets for pensions, life and health insurance, banking and asset management is driving rapid supply chain savings without the headaches of managing software. Storebrand, which has been using Ariba’s cloud-based solutions to manage its sourcing and contract management activities since 2010, has expanded its portfolio to include Ariba® Procure-to-Order™, which it will use to drive a more efficient and effective process for buying goods and services across its operations.

“Storebrand is all about efficiency. We are creating lean processes to maximize relationships with our trading partners and optimize our cost structure,” said Knut Olav Melhus Hoeg, Group CPO, Storebrand. “With Ariba’s solutions in place, we can quickly connect with our suppliers and manage the entire procurement process from sourcing and contracting, to order and receive through a single interface that can be easily accessed and shared.”

To achieve its goals, Storebrand will use Ariba Procure-to-Order in conjunction with Ariba Sourcing™, Ariba Supplier Information and Performance Management™ and Ariba Contract Management™

“We use Ariba Sourcing to source everything from office furniture and IT systems and services to management of properties owned by the group and recruitment services to consultants,” Hoeg said. Likewise, Storebrand uses Ariba Contract Management to centrally manage all of its purchasing agreements and ensure compliance.

With Ariba Procure-to-Order, Storebrand extends these efficiencies to the requisitioning and procurement execution process. The solution enables requisitioners to easily search and access catalogs to quickly find the goods and services they need; all while ensuring compliance with preferred vendor agreements, contracted prices and buying policies.

Why Ariba?  Because it’s easy. “We can be up and running more quickly and cost-effectively with Ariba than we could using other solutions,” Hoeg said.

Storebrand is further speeding adoption and improving supply chain efficiencies by tapping into the Ariba Network, which contains everything that’s needed to for efficient and scalable trading partner discovery, connectivity, and collaboration:

• Market-leading cloud-based applications for buying, selling and managing cash – all delivered as cost-effective, burden-free services.
• The world’s largest Web-based trading community, used by more than one million companies to conduct over $500 billion in commerce on an annual basis.
• Network-derived intelligence and community insights to power better business decisions.

 

Click here to view the entire Ariba press release.

Download a complimentary copy of PayStream’s 2013 Electronic Invoice Benchmark report to learn more about Ariba’s solution functionality.  In addition, download the Electronic Procurement report to learn more about how eProcurement and P2P solutions can drive significant revenue and efficiency results in your company.