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Procure Suite helped one of the top global financial services companies modernize its sourcing and procurement process. This financial services firm engages in the sourcing and procurement process for complex, illiquid commodities, such as energy, fertilizers, and natural gas. Before Procure Suite, the firm’s tradition and supplier engagement relied heavily on slow, manual matching methods that reduced participation and resulted in missed opportunities.
Procure Suite enabled the firm to conduct more than four strategic sourcing events each week, increasing responsiveness to market opportunities and supplier engagement.
With an intuitive auction engine and dynamic supplier qualification, the platform supported large participation levels for improving competitiveness and depth in every sourcing event.
Automation in sourcing and auction processes reduced manual effort, enhanced trading volume, and contributed directly to broader operational competitiveness.
Procure Suite enabled the firm to conduct more than four strategic sourcing events each week, increasing responsiveness to market opportunities and supplier engagement.
With an intuitive auction engine and dynamic supplier qualification, the platform supported large participation levels for improving competitiveness and depth in every sourcing event.
Automation in sourcing and auction processes reduced manual effort, enhanced trading volume, and contributed directly to broader operational competitiveness.
The client is a leading financial services firm with a strong global presence across more than 20 countries. The client offers a broad range of services, including digital execution, broking.
The firm was using a traditional, manual system to match buyers and sellers for illiquid commodities such as energy, natural gas, and fertilizers. This process was inefficient, slow, and often failed to generate optimal matches.
The sourcing and supplier engagement process had some issues because of a high volume of daily transactions.
The client is a leading financial services firm with a strong global presence across more than 20 countries. The client offers a broad range of services, including digital execution, broking.
The firm was using a traditional, manual system to match buyers and sellers for illiquid commodities such as energy, natural gas, and fertilizers. This process was inefficient, slow, and often failed to generate optimal matches.
The sourcing and supplier engagement process had some issues because of a high volume of daily transactions.
Buyers and suppliers were matched manually, leading to slow response times.
Lack of automation reduced the ability to attract and manage a broader supplier base.
Running multiple sourcing events simultaneously was cumbersome and prone to errors.
The company implemented Procure Suite, a preferred e-sourcing and reverse auction solution. It streamlined sourcing with automation and enabled strategic decision-making across high-participation events.
Procure Suite, with its advanced reverse auction solution, contributed significantly to automating sourcing and streamlining supplier engagement.
Procure Suite delivered a configurable, high-performance sourcing engine that automated complex auctions.
The dynamic rules engine of the Procure Suite automated supplier qualification and applied customized sourcing criteria.
Sourcing events that previously required manual effort were executed much faster, which improved responsiveness.
Procure Suite successfully handled complex auction scenarios with participation from 75+ suppliers per event, boosting competition and increasing market visibility.
Procure Suite delivered a configurable, high-performance sourcing engine that automated complex auctions.
Sourcing events that previously required manual effort were executed much faster, which improved responsiveness.
The dynamic rules engine of the Procure Suite automated supplier qualification and applied customized sourcing criteria.
Procure Suite successfully handled complex auction scenarios with participation from 75+ suppliers per event, boosting competition and increasing market visibility.
Procure Suite’s e-sourcing automation helped the client transform its entire approach to trading illiquid commodities. What was once a labor-intensive, error-prone, and manual workflow became a systematic, efficient process that delivered measurable business value.
This case study demonstrates how strategically applied automation in procurement can drive efficiency and enhance overall competitiveness. Both the e-sourcing and reverse auction modules of Procure Suite enabled the leading financial services company to
By automating manual sourcing and supplier management tasks.
By leading the client to more competitive sourcing events with deeper market engagement.
