CONTRACT MANAGEMENT
Generating around 25 % of the world’ s electricity, each year GE Vernova spends approximately US $ 20bn to sustain these operations. Its work with JAGGAER shows how a spunoff industrial giant can use a collaborative sourcing platform to modernise a specialised and high stakes category.
Following its split into a standalone company and several decades of M & As, GE Verona inherited a highly disparate and complex IT landscape including the need to manage multiple ERP systems. This resulted in the need for improved visibility and control over its expenditures and compliance with regulatory requirements, as well as ensuring system reliability and security. In partnership with JAGGAER the initiative centered on combining operational discipline with modern analytics tools, including integrating lean methodologies and cuttingedge technology such as generative AI, machine learning and process automation, significantly streamlining procurement processes and setting new benchmarks for operational efficiency and supplier engagement in the energy sector.
Through its engagement with JAGGAER, GE Vernova has seen continuous improvement of its procurement including spend under management, RFP launches, contract visibility, risk mitigation, regulatory compliance, decarbonisation and supplier engagement.
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