International business process outsourcing company Xchanging plc specializes in handling large, complex, back-office processing services for procurement, financial, and accounting operations. The company wanted to implement a Sarbanes-Oxley compliant procure-to-pay model, capable of processing thousands of secure transactions daily, to win a major new outsourcing contract from a large bank. The challenge was to create a procure-to-pay solution that cuts transaction costs, leverages buying power, enforces on-contract spend, improves reporting, and boosts margins for Xchanging and the customer. The company implemented Oracle iProcurement, a self-service requisitioning application with configurable approval management capabilities that enforce adherence to purchasing policies. It also used Oracle iProcurement to automate and streamline processes, deploy real-time order status tracking, and leverage the product's built-in spend analysis and discount calculation functionality.
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