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Hiscox


How Hiscox Mastered the Art of Supply Chain Automation for Unrivaled Business Success

About

Hiscox stands at the forefront of specialized insurance, boasting a legacy that traces back to 1901. As an integral component of the Hiscox Group, it leverages the strength of over 3,000 dedicated professionals across 14 countries to serve a global clientele.

Headquarters:
Pembroke Parish, Hamilton, Bermuda

Employees:
3,000+

Revenue:
$3.7B+

Hiscox’s Website

Challenges

  • Procurement teams needed greater control over their standard sourcing, purchasing, and invoicing activities
  • Siloed procurement processes and delayed invoice processing procedures
  • Complex processes causing low user-adoption of technology platforms
  • Difficulty reporting on supplier KPIs including diversity and ESG-related factors

Benefits

  • Spend under management increased from 33% to 80% in just 8 weeks
  • Improved expense ratio (underwriting premiums vs. expenses)
  • Real-time due diligence and transparency into supply base
  • Integrating various isolated systems into a unified procurement platform for supplier onboarding, creating PO’s, and handling invoice processing.
  • Streamlined P2P processes, while also improving user adoption, resulting in simplified procurement processes and a consistent user experience.

See MORE CUSTOMER SUCCESS STORIES


The Value of a Complete, Unified Source-to-Pay Platform

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Greater adoption and automation

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360 degree spend and supplier visibility

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Improved collaboration with stakeholders and suppliers


PLATFORM


Analytics

Workflow

Integration

AI

Collaboration

Design Mode

Additional Modules

Ready to Manage All Spend & Suppliers with No Compromises ?