Storebrand Takes Procurement to the Cloud with Ariba
Leading Nordic insurance and pension provider taps on-demand applications to automate process, improve efficiency and deliver savings
SUNNYVALE, Calif., November 6, 2013 –When it comes to efficiently managing the procurement process, there’s no better place to do it than the Cloud. And with the help of applications from Ariba, an SAP Company, Storebrand ASA, a leading player in the Nordic markets for pensions, life and health insurance, banking and asset management is driving rapid supply chain savings without the headaches of managing software. Storebrand, which has been using Ariba’s cloud-based solutions to manage its sourcing and contract management activities since 2010, has expanded its portfolio to include Ariba® Procure-to-Order™, which it will use to drive a more efficient and effective process for buying goods and services across its operations.
“Storebrand is all about efficiency. We are creating lean processes to maximize relationships with our trading partners and optimize our cost structure,” said Knut Olav Melhus Hoeg, Group CPO, Storebrand. “With Ariba’s solutions in place, we can quickly connect with our suppliers and manage the entire procurement process from sourcing and contracting, to order and receive through a single interface that can be easily accessed and shared.”
To achieve its goals, Storebrand will use Ariba Procure-to-Order in conjunction with Ariba Sourcing™, Ariba Supplier Information and Performance Management™ and Ariba Contract Management™
“We use Ariba Sourcing to source everything from office furniture and IT systems and services to management of properties owned by the group and recruitment services to consultants,” Hoeg said. Likewise, Storebrand uses Ariba Contract Management to centrally manage all of its purchasing agreements and ensure compliance.
With Ariba Procure-to-Order, Storebrand extends these efficiencies to the requisitioning and procurement execution process. The solution enables requisitioners to easily search and access catalogs to quickly find the goods and services they need; all while ensuring compliance with preferred vendor agreements, contracted prices and buying policies.
Why Ariba? Because it’s easy. “We can be up and running more quickly and cost-effectively with Ariba than we could using other solutions,” Hoeg said.
Storebrand is further speeding adoption and improving supply chain efficiencies by tapping into the Ariba Network, which contains everything that’s needed to for efficient and scalable trading partner discovery, connectivity, and collaboration:
- Market-leading cloud-based applications for buying, selling and managing cash – all delivered as cost-effective, burden-free services.
- The world’s largest Web-based trading community, used by more than one million companies to conduct over $500 billion in commerce on an annual basis.
- Network-derived intelligence and community insights to power better business decisions.
“Companies today want access to the people, processes and tools they need to make their businesses go,” said Henrik Smedberg, Ariba Nordics. “In embracing Ariba as the platform for its procurement process, Storebrand can not only streamline internal processes, but can also connect and collaborate more efficiently with its trading partners across the street and around the globe, discover and qualify new sources of supply, track and coordinate orders across their supply chain and gain the transparency into payables and receivables status needed to make better working capital decisions.”
Storebrand, with roots back to 1767, is the leading player in the Nordic markets for pensions and life insurance. In addition the company also has business in health insurance, banking and asset management. The company's head office is in Oslo. It has also established life insurance, asset management and health insurance activities in Sweden. Following the acquisition of the Swedish life insurance and pensions provider SPP in December 2007, Storebrand is now the Nordic region's leading provider of life insurance and pensions.
About Ariba, an SAP Company
Ariba is the world’s business commerce network. Ariba combines industry-leading cloud-based applications with the world's largest web-based trading community to help companies discover and collaborate with a global network of partners. Using the Ariba® Network, businesses of all sizes can connect to their trading partners anywhere, at any time from any application or device to buy, sell and manage their cash more efficiently and effectively than ever before. Companies around the world use the AribaNetwork to simplify inter-enterprise commerce and enhance the results that they deliver. Join them at: www.ariba.com
As market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device – SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 251,000 customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com.
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