Many companies have implemented technologies to streamline the procurement process. But when it comes to driving compliance, most fall short. As a result, more than half of savings identified never materialize. To ensure that no money is left on its table, Rentokil Initial (FTSE: RTO), one of the largest business services companies in the world, is leveraging software from Ariba, Inc. (NASDAQ: ARBA), the leading provider of collaborative business commerce solutions, to create and enforce an efficient, cost-effective and transparent procurement process across its operations.
“Ariba provides us with a single, automated solution we can use to establish appropriate checks and balances around procurement and ensure that the savings we negotiate make their way to the bottom line,” said Damon Jones, Chief Purchasing Officer of Rentokil Initial. “We plan to roll out Ariba functionality to all divisions during the course of 2011.”
Under the terms of its agreement with Ariba, Rentokil Initial will implement Ariba® Procure-to-Pay™ to drive a best-practice procurement process through which it can:
- Maximize its purchasing leverage through compliance to contracts
- Ensure that spend is authorized prior to commitment
- Reduce and control the risk of error, abuse and fraud
- Provide a clear understanding of commitments and liabilities
A unique software solution delivered as a service through the Ariba Commerce Cloud, Ariba Procure-to-Pay provides companies with all of the tools necessary to dynamically manage suppliers, processes, budgets, approvals and payments on a global basis.
Rentokil Initial will also leverage Ariba Supplier Information Management™ and Ariba Supplier Performance Management™ to more efficiently manage its trading relationships. Using the applications, the company will create and maintain a master supplier file with consistent, complete and accurate data.
“Few functions are more dynamic than procurement. Yet many companies continue to rely on manual methods and infrastructure-heavy solutions to manage it,” said John Lark, Senior Product Marketing Manager, Ariba. “In embracing Ariba’s cloud-based offerings, Rentokil Initial can remain agile, dialing up the resources it needs as it needs them to standardize purchasing and drive compliance across its processes, terms and relationships.”
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