Supply chain research and advisory firm, Ardent Partners, announced this month the winners of the Best-in-Class Procurement Leaders Recognised for Outstanding Achievement at the CPO Honours 2018 Summit in Boston, Massachusetts. Ardent established the Chief Procurement Officer Honours to celebrate “the procurement function and recognise the accomplishments of the profession’s top leaders and teams”. The awards are widely regarded as being the most prestigious in the procurement sector.
This year, Ardent Partners named the procurement team at Brighthouse FInancial as the recipients of its “Technology Excellence” award. The award recognises the team’s achievements “driven by procurement automation initiatives across the full scope of procurement operations, including dramatic reductions in the requisition-to-purchase order cycle time and delivering a unified source-to-pay experience to the larger enterprise”.
Based in North Carolina, Brighthouse Financial is a leading provider of annuities and life insurance with “approximately 2.9M policies and contracts in force. In August, the Brighthouse Financial procurement team announced its partnership with GEP, “a leading provider of procurement software and procurement services to Fortune 500 and Global 2000 enterprises”. Brighthouse uses GEP’s SMART software suite, a cloud-native sourcing, procurement and spend management software platform, to enact the digital transformation of its source-to-pay operations, “including spend analysis, savings management, sourcing, contract management, supplier management and procure-to-pay purchasing”.