Weetabix is implementing an integrated purchase-to-pay system, which, it believes, will impose controls and compliance, while also streamlining releated processes.
The cereals manufacturer has selected Wax Digital's web3 SaaS (software as a service) e-procurement software, which will be tightly integrated with Weetabix's existing finance system.
Anthony Bowdidge, head of procurement at Weetabix, explains that the move is part of a wider procurement transformation initiative currently being undertaken.
"We selected Wax Digital because of the company's wealth of experience delivering software and services to enterprise organisations," states Bowdidge.
"The web3 product is highly intuitive and its advanced supplier collaboration features will drive significant process improvements across our supply chain," he adds.
Bowdidge explains that the system will cover both production and indirect goods and services, with around 400 users and 1,100 suppliers to be migrated onto the system.
He expects Web3 to provide an enterprise-wide platform from which Weetabix can improve process efficiencies throughout the procurement lifecycle and gain greater control and visibility of its spending.
"As part of the transformation of procurement within Weetabix, the web3 e-Procurement solution will meet our vision to utilise best in class systems and procedures to deliver value across the organisation," he comments.