Coupa selected to power Provident Financial Group's procurement digital transformation
A leading financial services provider has selected Coupa to accelerate and power its digital transformation.
Provident Financial Group announced in a statement this week that it had selected Coupa Software to “transform its business by improving group-level supply side synergies, maximise spend under management and increase operational efficiently to deliver new savings for the organisation.”
The leading business spend management (BSM) company will look to replace a number of infrastructure platforms that Provident Financial Group is currently using. In their place, Coupa will implement its BSM Platform to redefine the company’s Source to Pay capabilities to enable greater visibility and control over its organisational spend.
“Coupa’s approach to value as a service resonated strongly with us and, of all the systems we evaluated, Coupa stood out as the company with the clearest vision and focus on usability,” said James Wagstaff, chief procurement officer at Provident Financial Group. “This is truly the ‘Rolls Royce’ of systems, and we’re proud to be working with Coupa through this implementation.”
“To chart a path toward best-in-class performance, we provide global benchmarks with KPIs against which customers can measure progress,” said Mark Riggs, chief customer officer at Coupa. “We are delighted to be working with Provident Financial Group on implementing a cloud-first approach to BSM and look forward to supporting its procurement transformation.”
Pandora and IBM digitise jewellery supply chain
Pandora has overhauled its global supply chain in partnership with IBM amid an ecommerce sales boom for its hand-finished jewellery.
The company found international success offering customisable charm bracelets and other personalised jewellery though its chain of bricks and mortar retail destinations. But in 2020, as the COVID-19 outbreak forced physical stores to close, Pandora strengthened its omnichannel operations and doubled online sales.
A focus on customer experience included deploying IBM’s Sterling Order Management, increasing supply chain resiliency and safeguarding against disruption across the global value chain.
Pandora leverages IBM Sterling Order Management as the backbone it its omnichannel fulfilment, with Salesforce Commerce Cloud powering its ecommerce. Greater automation across its channels has boosted the jeweller’s sustainability credentials, IBM said, streamlining processes for more efficient delivery. It has also given in-store staff and virtual customer service representatives superior end-to-end visibility to better meet consumer needs.
Jim Cruickshank, VP of Digital Development & Retail Technology, Pandora, said the digital transformation journey has brought “digital and store technology closer together and closer to the customer”, highlighting how important the customer journey remains, even during unprecedented disruption.
"Our mission is about creating a personal experience and we've instituted massive platform changes with IBM Sterling and Salesforce to enable new digital-first capabilities that are much more individualised, localised and connected across channels and markets,” he added.
Pandora’s pivot to digital
The pandemic forced the doors closed at most of Pandora’s 2,700 retail locations. To remain competitive, it pivoted to online retail. Virtual queuing for stores and virtual product trials via augmented reality (AR) technology went someway to emulating the in-store experience and retail theatre that is the brand’s hallmark. Meanwhile digital investments in supply chain efficiency was central to delivering on consumer demand.
“Consumer behaviour has significantly shifted and will continue to evolve with businesses needing to quickly adapt to new preferences and needs,” said Kareem Yusuf, General Manager, AI Applications and Blockchain, IBM. “To address this shift, leading retailers like Pandora rely on innovation to increase their business agility by enabling and scaling sustainable supply chain operations using AI and cloud.”
Yusuf said Pandora’s success was indicative of how to remain competitive by “finding new ways to create differentiated customer experiences that protect their enterprises from disruptions to help mitigate risk and accelerate growth”.