The American Red Cross enhanced its financial sustainability and supplier diversity through a self-funded Business Spend Management (BSM) initiative. The organization previously faced challenges with limited spend visibility, inefficient manual processes, and meeting diversity benchmarks. Implementing a cloud-based BSM platform allowed for automated requisition-to-pay processes, boosting visibility, compliance, and control. The initiative reduced paper use by 50%, improved payment cycle times, and increased on-contract spend to 87%. These changes led to $15M in cost reduction and a projected $20M+ impact over five years, helping the Red Cross maximize value and align with its social responsibility goals.

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