Royal London, the largest mutual life insurance, pensions, and investment firm in the UK, has announced it will use GEP procurement software.
The company has selected to use SMART by GEP®, a leading cloud-native sourcing, spend management, and procurement software.
GEP is a New Jersey-based procurement software and procurement services firm that provides to Fortune 500 and Global 2000 businesses across the world.
Royal London will be using SMART by GEP® for full source-to-contract (S2C) operations, such as spend analysis, savings management, sourcing, contract management and supplier management.
The platform unifies all procurement functions in a single product that leverages cloud economics, in order to manage processing requirements whilst reducing infrastructure and support costs.
“After an extensive selection process, we have opted to partner with GEP who we believe offers a solution that enables us to significantly enhance our sourcing proposition,” remarked Ben Jeffery, Head of Sourcing Operations at Royal London.
“This partnership will enable us to deliver efficiencies throughout the sourcing life cycle through better opportunity and spend analysis, improved market insight, a more streamlined tender process, improved contractual oversight, enhanced risk management, and ultimately, a better experience for suppliers and other third parties.”