Cambridge, MA August 16, 2002 Metropolitan Life Insurance Co. ("MetLife") has tapped a solution from e-sourcing provider Frictionless to be a central part of its sourcing strategy.
MetLife will deploy the sourcing solution throughout the company to help capture and analyze all activity in both the supplier selection and supplier management processes.
Using the tools provided in Frictionless Sourcing, MetLife will be focusing on expenditure analysis to improve managerial review and control of expenses, supplier selection process to negotiate the best value, and contract management and compliance
"MetLife began an enterprise-wide initiative to support sourcing best practices, fulfill e-sourcing and e-procurement needs, and increase efficiencies and achieve greater savings," said Roy Anderson, vice president of corporate procurement for MetLife. "After undergoing an exhaustive search, we selected Frictionless to help us achieve those objectives with its ease of use and many capabilities."
Anderson explained that the Frictionless platform addressed the sourcing needs specific to the financial services sector.
MetLife, a provider of insurance and other financial services to individual and institutional customers, operates in the United States and 13 other countries.