Company
GPD Finance Group is a financial services company that serves small-market and middle-market businesses. We provide a broad range of financial solutions to meet our clients' needs at all stages — from inception to IPO and beyond.
Industry
Financial Institutions
Location
Financial Institutions
Size
Over 400 employees
Main Results
54% increased efficiency in sourcing suppliers through Dutch Auctions, RFQs and RFIs
Significant internal collaboration and alignment with stakeholders
78% improved contract compliance
Ron Perry
VP of Procurement
“In today’s business landscape, we can no longer afford to not take advantage of what technology has to offer.”
Context
Like the entire financial service sector, GDP Finance Group has been impacted by the rapid changes of the past years. All finance institutions today need to adhere to heightened scrutiny measures in terms of data security and regulatory compliance, aside from the increasing pressures of heightened competition and volatile business environments.
Together with Prokuria, GDP Finance Group aimed at streamlining and centralizing its processes, increasing their agility, and better interacting with their third-party suppliers.
Resolution
By using Prokuria, GDP Finance Group managed to achieve significant business process efficiency, increase their visibility into their spend data and the outsourcing component of the procure-to-pay process.
