Accenture has been selected to manage Lincoln Financial Group’s procurement function in a five-year contract aimed at helping Lincoln reduce the cost of purchased goods and services.
Under the agreement, Accenture will manage a full suite of procure-to-pay services for Lincoln, services that include: negotiating contracts with suppliers (strategic sourcing and tactical buying) for goods and services; order processing; payables processing; travel and expense processing; supplier management; procurement contract management; internal and supplier compliance management; online catalog content management; application hosting and support; and operational reporting and analysis.
The services will be delivered by Accenture Procurement Solutions, an Accenture business that provides procurement services to global enterprises and governments on an outsourced basis. Accenture will locate personnel at select Lincoln facilities in the United States as well as leverage the capabilities and expertise of its global delivery network.
Financial terms of the contract were not disclosed.