University of Colorado Achieves Savings and Sustainability Goals with JAGGAER’s Source to Pay Spend Management Solutions
- Press Release
- Source to Pay
RESEARCH TRIANGLE PARK, NC – October 18, 2018 – JAGGAER, the world’s largest independent spend management company, today announced that the University of Colorado Procurement Service Center (PSC) has reported savings in both time and money against their $1 billion-dollar procurement spend utilizing JAGGAER’s suite of spend management solutions. The University also achieved a key sustainability goal.
The PSC manages $1 billion in spend, representing 26% of the institution’s total budget, for spend management, procure to pay, and travel management responsibilities. JAGGAER solutions saved the institution $5 million in marketplace purchases for goods and services alone, supporting 10,000 users, in 2018.
Beyond hard dollar savings, the solution demonstrated its robustness by managing CU’s volume of user demands. Users sent 2,400 contracts through the system, which were reviewed for legal sufficiency or other compliance, and also managed 210 solicitations. The school paid 330,000 invoices and processed 47,000 employee reimbursements, averaging under 24 hours per reimbursement.
“JAGGAER’s solutions have helped us set new standards for both efficiency and money savings. They have also helped us meet sustainability goals. For example, users took advantage of our contracts and catalogs to switch to recycled copy paper, and saved 1.5 million gallons of water and 1,800 trees. That is more than half the number of trees on our Boulder campus. They also bought 1.9 million sheets of sugar cane copy paper, through JAGGAER’s supplier network. The small dollar purchasing threshold increased from $5,000 to $10,000, and users were able to complete 5,500 more requisitions without purchasing agent assistance. JAGGAER solutions work because they represent over 20 years of delivering the gold standard of spend management solutions to higher education,” says Sandy Hicks, Associate Vice President and Chief Procurement Officer, University of Colorado.
About JAGGAER: Global Source to Pay Spend Management Solutions
JAGGAER is the world’s largest independent spend management company, with nearly 2000 customers connected to a network of 3.7 million suppliers in 70 countries, served by offices located in North America, Latin America, throughout Europe, the United Kingdom, Australia, Asia, and the Middle East. JAGGAER offers complete SaaS-based Source to Pay eProcurement solutions with advanced Spend Analytics, Sourcing, Supplier Management, Contract Lifecycle Management, Savings Tracking, and intelligent workflow capabilities. JAGGAER has pioneered spend solutions for over two decades and continues to lead the innovation curve by listening to customers and analyzing the market. Our solution suites are trusted by the world’s largest manufacturing, education, health care, retail, consumer package goods, logistics, construction, utilities companies and public service organizations.