Case study
A successful global Sourse-to-Pay project in insurance
Hiscox, a leading international insurer, partnered with OJC Consulting to implement the Ivalua platform. This global Source-to-Pay project focuses on transforming procurement, TPRM and supplier management in the insurance sector.
Enhance visibility of expenses, previously only available at the invoice stage.
Streamline and validate supplier and contract data.
Reduce supplier base from 10,000+ to an efficient network.
Simplify supply chain operations to improve efficiency and control.
Strengthen third-party risk management (TPRM) with improved processes and oversight.
Implement a technical solution to meet evolving regulatory requirements (e.g., DORA)
Hiscox is an international specialist insurer, listed on the London Stock Exchange. With 0ver 3000 employees operationing across 14 countries, it combines strong financial foundations with deep expertise to deliver long-term value for customers and shareholders.
To support its growth and strengthen spend management, Hiscox partnered with OJC Consulting to deploy the Ivalua platform globally, covering the entire Source-to-Pay cycle as well as supplier and contract management.
The project covers the entire Source-to-Pay cycle as well as global expense management.
With the Ivalua platform, Hiscox now benefits from a single system to streamline its supplier base, centralize and secure contracts, manage risks and ESG data, automate the procure-topay process, and simplify employee expense management.
OJC Consulting delivered a full technical integration of the Ivalua platform within Hiscox’s IT ecosystem.
Connected to Oracle Fusion ERP and several third-party applications, the solution automatically exchanges data related to users, suppliers, invoices, and expenses.
These bidirectional flows ensure consistency of information across Ivalua, financial systems, risk management tools, and compliance modules.
Reduction in supplier creation requests.
Consolidation of the supplier base, reduced from 10,323 to fewer than 3,000.
Improvement in visibility and control of spend through the “No PO, No Pay” policy.
Adoption achieved across users, supported by change management aligned with Hiscox’s culture.
Increase in sourcing efficiency through the use of RFx tooling.
Enhancement of competition via spot bids, leading to better supplier offers.