In today’s increasingly connected and fast-changing world, work process digitization is no longer a nice-to-have; it is a must-have for companies to survive and thrive. Fannie Mae Procurement started its digital transformation effort in 2013 when we switched from the legacy source-to-pay system to Ivalua.  We took a three-phased approach in this journey: foundational digital platform, enhanced capabilities, and adaptive, continuous optimization. We have completed phase one in building the foundation digital platform when we rationalized the business processes and implemented Ivalua’s sourcing, contracting and purchase requisition modules. We are now in phase two of the journey: we have implemented the contract analytics capability that has enabled efficient and deeper contract analytics; we have completed a pilot in contract authoring; and we are now expanding the pilot to the rest of the contract types. Through this work, we have achieved great results in enabling a better and smarter work process.   

Contributors: Fannie Mae
Categories: 2022 Fall - Rancho Mirage, Summit Presentations
SRC Type: Disruptive Digitization