The announcement was made at SAP Ariba Live in Sydney, taking place September 10-11 at the Westin Sydney.
In collaboration with SAP, IAG created an internal diversity marketplace to enable its employees to channel their spend to make a positive impact on local communities. With IAG’s drive and focus, SAP expanded its supplier community connected to Ariba Network in Australia with suppliers from diverse backgrounds that will be available to all local and regional buyers using the SAP Ariba Buying solution in Australia.
“We believe in driving positive social change and wanted to create a marketplace for underrepresented suppliers who may not normally come into our network,” said Fraser Stowers, IAG executive manager of Procurement. “The diversity marketplace will help our buyers connect with suppliers from different backgrounds and make informed choices on where they make purchases. We are also proud to partner with First Nations–led businesses on this launch, which demonstrates our dedication to embed reconciliation in the way we do business every day and reflects the commitment we made in our Reconciliation Action Plan.”
Under this diversity initiative, IAG innovated utilizing tools within its SAP Ariba cloud solution to meet its business needs and growing demands for purposeful spending, creating a pathway to invest in community-driven suppliers. The initiative came to fruition by IAG harnessing the Spot Buy capabilities in SAP Ariba solutions coupled with its licensed instances of Ariba Network and SAP Ariba Buying.
IAG and SAP worked closely with key supplier intermediaries across Aboriginal and Torres Strait Islander and women-owned businesses and social enterprises such as Supply Nation, Mums & Co and Social Traders to help identify diverse suppliers ready to transact on Ariba Network. By expanding the supplier pool, the diversity marketplace helps IAG employees make smarter decisions before purchasing.
“I am a proud Wurundjeri woman and my heritage is an important part of my cultural identity,” said Kelly Thomas, owner of The Floral Decorator and supplier of the diversity marketplace. “The diversity marketplace is an opportunity to work with the procurement landscape to bring Indigenous culture to the forefront of Australia.”
“By providing social enterprises, Indigenous businesses and women-owned businesses better access to markets and corporate spend, together we aim to help build a more inclusive, more equitable and more sustainable economy — and enable organizations of all sizes and industries to find a better way to grow,” said Adaire Fox-Martin, SAP Executive Board member for Global Customer Operations.
“Participating buyers and suppliers on Ariba Network will benefit from this initiative,” said Ben Redwine, SAP Ariba Asia Pacific Japan chief operating officer. “For buyers like IAG, they elevate the role of procurement beyond cost reduction by allowing their employees to spend better and make a social impact in the Australian community. For suppliers like The Floral Decorator, we are growing their businesses by giving them access to the largest business-to-business network in the world. This is what makes the Australian procurement community awesome — the collective power and purpose of our profession to build a community and figure out ways that we can work together to improve people’s lives and create a level playing field for everyone.”
This diversity marketplace launch builds upon IAG’s digital transformation, which began last year with the company’s rollout of the guided buying capability of its SAP Ariba Buying solution. With that capability, IAG branded uBuy, an internal consumer-like shopping site that automatically guides the IAG buying organization to the items they are seeking to purchase in compliance with company policies. With the SAP Ariba solutions, IAG transformed procurement from a tedious, complex process into one that is purpose-driven, consumer-friendly, collaborative and intelligent.
SAP Ariba solutions are part of a mission to help the world spend better. As the world’s largest business-to-business commerce network, with more than 4.2 million connected companies transacting nearly US$3 trillion annually, the impact of SAP Ariba solutions on the global economy is undeniable and growing. This community of buyers, suppliers, partners and business leaders has the power to make a positive impact on the world.
IAG is the parent company of a general insurance group (the Group) with controlled operations in Australia and New Zealand. The Group’s businesses underwrite almost $12 billion of premium per annum, selling insurance under many leading brands, including: NRMA Insurance, CGU, SGIO, SGIC, Swann Insurance and WFI (Australia); and NZI, State, AMI and Lumley (New Zealand). IAG also has interests in general insurance joint ventures in Malaysia and India. For further information, please visit www.iag.com.au.
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