From terry-cloth bathrobes to dolphin medicine, sourcing supplies and managing suppliers is an ongoing challenge for global hospitality, retail and entertainment brand MGM, which does business with more than 10,000 suppliers and and processes 1.1 million invoices per year.
In 2016 the company’s procurement team found that shockingly only 40% of spend was under management and took action. Codenamed “Project Endeavor,” MGM launched an initiative seeking a comprehensive and open Business Spend Management (BSM) solution.Watch this webinar to hear from Amanda Prochaska, VP Procurement PMO Global Procurement, to learn how MGM saved $2.7 million and achieved the following process efficiencies:
- Transformed from 0% to 90% e-invoicing
- Achieved overnight success from 30% PO-based spend to 100%
- Digitized the supplier experience for 10,000 global suppliers
- Retired their supplier phone line and case management system