CVS Caremark looks to improve spend management with Ariba

SUNNYVALE, Calif. CVS Caremark is implementing Ariba Sourcing On Demand and Ariba Contract Management solutions, the spend management solutions provider announced on Tuesday.

"At CVS Caremark, we continue to look for ways to improve our sourcing and procurement capabilities and drive savings," stated Anna Umberto, VP strategic procurement at CVS Caremark. "Ariba's on-demand solutions will help us accomplish this by providing technology, capabilities and best-practice processes that we can use to create a standard, automated process for sourcing from bid to contract, manage content and workflow and ensure compliance with our agreements."

Ariba Sourcing On Demand will enable CVS Caremark to negotiate best-value contracts for a wide range of goods and services. With Ariba Contract Management, CVS Caremark can collaboratively create and manage contracts across categories and functions, including sales, finance, marketing, real estate, legal, procurement and IT and drive compliance with agreements on an enterprise-wide basis to ensure that savings negotiated actually reach the bottom line, according to Ariba.

"CVS Caremark is uniquely positioned to effectively manage costs and improve healthcare outcomes," added Christopher Merchant, managing director of Ariba Spend Management Services. "In selecting Ariba's on-demand solutions the company can streamline its sourcing and procurement processes and generate substantial savings that positively impact its operations and ultimately, the customers they serve."