PRUDENTIAL FINANCIAL
“ Because of the federated nature of the organisation, that insight and data lives across multiple areas including different ERPs, regional AP ledgers, P-cards and travel systems, or with third-party administrators that we work with,” Richard explains.“ When you’ re putting spend visibility technology in duplicate vendor masters with split ownership or divergent naming standards, it can bring challenges.
“ By bringing that data together we can see true line item detail, compare suppliers or have a real and measurable single source of information that removes opacity across multiple areas, from corporate events and joint ventures, through to mergers and acquisitions, divestitures and more.”
This level of visibility is particularly important for a financial services company like Prudential Financial, says Richard, noting that lack of insight“ makes it very hard to spot variability in patterns of pricing, or to quantify risk or exposure to specific areas.”
The implementation process began with pilot projects in the US and Japan – both markets where the company has a large and long-standing presence – before moving into global adoption.
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