Richard Porcaro discusses the data and insight-driven procurement transformation underpinning Prudential Financial’ s AI-driven future
PRUDENTIAL FINANCIAL
Richard Porcaro discusses the data and insight-driven procurement transformation underpinning Prudential Financial’ s AI-driven future
Without spend visibility, procurement is nothing. It is, to quote Prudential Financial’ s Richard Porcaro,“ the foundation for every decision you’ ll ever make.” And he would know. As Vice President, Global Head of Sourcing & Category Management at the US-based financial services company, Richard has played a central role in an ongoing transformation journey, working with a spend analytics partner to revolutionise how the function uses data, modernises sourcing and supplier relationships, and drives strategic value.
“ Building a strong, robust data foundation – regardless of how complex that is or how long it takes – is critical,” Richard adds,“ not only for procurement and the functions it works with, but for the entire enterprise. Without the right steps in place and having measurable spend visibility you get slower decision making and unreliable outcomes, you’ re more exposed to risk and you miss crucial opportunities.”
Richard is no stranger to transformation. Over more than 20 years in procurement and supply chain he has worked for the likes of GlaxoSmithKline, UBS and Chubb, before joining Prudential Financial in late 2024.
52 December 2025