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Rent-A-Center Saves Millions with IBM Smarter Commerce

By   /  March 26, 2013  /  No Comments

racby Angela Guess

A recent article out of IBM reports, “IBM and Coupa Software today announced that Rent-A-Center, Inc., the nation’s largest rent-to-own operator, has achieved millions in savings by optimizing and centralizing its purchasing process in the cloud. With approximately 4,000 locations and 20,000 employees, Rent-A-Center was challenged with a highly de-centralized and manual purchasing process with low employee adoption. In addition, the onboarding of suppliers was extremely time-consuming and complicated. As a result, the company was not efficient at consolidating purchasing to influence pricing or optimizing its contract, invoicing and supplier management processes.”

The article continues, “Tasked with revamping the entire procurement process for greater efficiency and savings, Rent-A-Center relied on the combined power of procurement solutions offered by IBM Smarter Commerce and Coupa to streamline its spending. As a result, between 2010 and 2012, the $3 billion rent-to-own retailer increased visibility into spending by automating how it sources – or finds and secures materials – for 90 categories of indirect spend, such as store office supplies. From 2011 to 2012, the company consolidated its supply base, reducing it by 10 percent, and decreased the number of invoices by 5 percent. Rent-A-Center is currently saving, on average, 10 percent on the categories it has automated.”

Read more here.

photo credit: Rent-A-Center

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