University of California Procurement Program Among Finalists for World Procurement Award
LOS ANGELES – For the second year in a row, the University of California’s (UC) system-wide P200 Procurement Program was selected as a finalist at the 11th annual World Procurement Awards, which are widely regarded as the most prestigious award in the field.
JAGGAER, provider of the world’s most comprehensive Source to Pay (S2P) solution suite, partnered with UC to create a procurement service that has transformed the university purchasing process. Utilizing JAGGAER’s P2P, sourcing, and spend analytics solutions, P200 was able to surpass the $200 million in annual savings goal by $69 million at the end of the 2015-2016 fiscal year, and plans to exceed $300 million by the end of 2016-2017.
The University of California is comprised of 10 campuses, and is the second largest employer in California, with over 238,000 students and 190,000 employees and faculty members. The UC system manages over $7.8 billion in spend annually across its campuses. In 2012, the UC System created the P200 Challenge, a bold program designed to help the UC System save $200 million annually by the end of this fiscal year.
Although UC did not take home the award, being included as a finalist once again is a huge accomplishment. “We are honored that the P200 program has been acknowledged two years in a row as one of the best procurement programs in the world. Over the past two years, this program has been getting increased attention on an international stage, indicative of our evolution into a ‘best practices,’ strategic procurement organization,” says Associate Vice President and Chief Procurement Officer William Cooper.
About JAGGAER: Global Indirect and Direct Spend Management Solutions
JAGGAER’s solutions suites are trusted by the world's largest higher education, manufacturing, pharmaceutical, life sciences, automotive, engineering, construction equipment, serial production and medical technology companies. Our indirect and direct spend solutions suites collectively form a global network processing billions of dollars in annual spend between 900+ customers and 2.5 million suppliers. JAGGAER’s SaaS based, Source to Pay (S2P) solutions enable an efficient relationship between buyers and suppliers, covering the entire spectrum of needs, from spend analysis to sourcing, through contract and supplier relationship management.