Sourcing and Category Management

Optimize spend and boost profitability with strategic sourcing and category management

Drive out procurement and sourcing inefficiencies and instill value and savings

Many insurance companies lose money because they fail to identify or calculate viable reinsurance claims. Reinsurance is a complicated business, and clawing back claims can be convoluted. Genpact's ReFinder does the heavy lifting for insurers, unlocking value in the data and returning money to clients to invest or boost their bottom line.

Full and up-to-date spend transparency to increase the use of preferred suppliers and improve supplier negotiations.

A global food and beverage brand saw

98%

spend visibility with standardized processes and optimized technology

A holistic approach to spend management

Our category management and sourcing services span:

 

  • Category planning to identify savings projects
  • Strategic sourcing aligned with business goals
  • Spend compliance management to use preferred suppliers for optimal savings
  • Supplier performance management to minimize risk
  • Contract management to centralize oversight of contracts and metrics
  • Continuous improvement through supplier collaboration to identify cost-saving opportunities

Tighter compliance and year-on-year cost savings

We partnered with a multinational conglomerate to manage end-to-end procurement, from category management and strategic sourcing to tactical operations. We consolidated the supply base, leveraged global spend, and implemented spend compliance controls, reducing operating costs. With full ownership of eight indirect categories across eight business units in 130 countries, we handled tactical activities and achieved significant savings, exceeding targets.

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