Coty Inc., a leading global beauty company, has signed a 5-year contract with IBM for procurement services in North America and Canada.

Under the agreement, IBM will procure goods and services for Coty in areas such as business services, travel, facilities management, technology and telecommunications, marketing and logistics.

IBM will implement and integrate its Procure-To-Pay procurement solution into Coty's systems, which will enable web-based requisitioning, automated ordering, timely monitoring of order status and efficient supplier payment.

IBM procurement solution also includes commodity experts, a global contact center and accounts payable processing center for Coty suppliers and employees. Coty will have access to the full range of services at IBM's existing procurement service delivery centers.

Bernd Beetz, Coty Inc. CEO said, "This agreement with IBM will help enable Coty to transform its business and provide synergies across its brands while improving profitability."

Tony Cronin, IBM General Manager of Business Transformation Outsourcing said, "We are experiencing growing market demand for business process outsourcing services, and procurement services in particular. IBM offers a unique value proposition to clients like Coty by combining our sourcing experience, procurement process expertise and applications, and outsourcing capabilities to deliver significant cost reductions and long-term economic benefits."

The procurement project is part of Coty's "Spiral of Success" efficiency program, which aims to realize significant cost savings while optimizing business processes. Savings from the project are expected to further accelerate the beauty company's growth.

Image Source: www.coty.com