SAP Ariba and insurer IAG have created an online marketplace to enable its employees to channel their spend to Indigenous and women-owned businesses.

The initiative, called “Rise”, was announced this week and expands IAG’s supplier pool to include businesses from diverse backgrounds.

“We believe in driving positive social change and wanted to create a marketplace for underrepresented suppliers who may not normally come into our network,” said Fraser Stowers, IAG Executive Manager of Procurement.

“The diversity marketplace will help our buyers connect with suppliers from different backgrounds and make informed choices on where they make purchases. We are also proud to partner with First Nations-led businesses on this launch, which demonstrates our dedication to embed reconciliation in the way we do business every day and reflects the commitment we made in our Reconciliation Action Plan.”

Under this diversity initiative, IAG innovated utilising tools within its SAP Ariba cloud solution to meet its business needs and growing demands for purposeful spending, creating a pathway to invest in community driven suppliers.

IAG and SAP Ariba worked closely with key supplier intermediaries across Aboriginal and Torres Strait Islander and women-owned businesses and social enterprises such as Supply Nation, Mums & Co and Social Traders to help identify diverse suppliers ready to transact on Ariba Network.

“I am a proud Wurundjeri woman and my heritage is an important part of my cultural identity,” said Kelly Thomas, owner of The Floral Decorator and supplier of the diversity marketplace.

“The diversity marketplace is an opportunity to work with the procurement landscape to bring Indigenous culture to the forefront of Australia.”

This diversity marketplace launch builds upon IAG’s digital transformation, which began last year with the company’s roll out of the guided buying capability of its SAP Ariba Buying solution.

With those capabilities, IAG branded uBuy, an internal consumer-like shopping site, which automatically guides the IAG buying organisation to the items they are seeking to purchase in compliance with company policies.

With the SAP Ariba solutions, IAG transformed procurement from a tedious, complex process to one that is purpose-driven, consumer-friendly, collaborative and intelligent.

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