INTERAMERICAN triumfuje na Procurement Excellence Awards!

What exactly did INTERAMERICAN win and why?

INTERAMERICAN, the largest private insurer in Greece, triumphed at this year's Procurement Excellence Awards 2025, winning the gold trophy in the "Best Process Innovation Initiative" category for the innovative digital transformation of its procurement processes.

The Procurement Excellence Awards, organized by BOUSSIAS Events, recognize the best achievements in corporate procurement.

The competition was strong: over 200 professionals participated and projects from companies such as Lidl Hellas, KFC Greece, Coca-Cola, Piraeus Bank were nominated. INTERAMERICAN succeeded in such competition with its progressive approach to the digitalization of the purchasing process, which impressed the expert jury. This success also confirms that even in a traditional sector such as insurance, it pays to bet on digital innovation.

How did INSIO contribute to this?

Behind INTERAMERICAN's success in the field of purchasing innovation is technology from INSIO. Specifically, an advanced P2P (Procure-to-Pay) system was deployed that digitized the entire purchasing process from the initial request to the final invoice approval and payment. This advanced purchasing software was integrated with the company's SAP ERP system as well as with ADACOM's digital signature tool. All steps can thus be carried out electronically, securely and in accordance with internal rules and policies.

The deployment of a single platform has significantly improved key parts of the purchasing agenda, including:

• Managing purchase requisitions and orders

• Contract lifecycle management

• Approval of invoices

By combining all these functions into one system, INTERAMERICAN now has complete visibility and control over the entire purchasing cycle. Lengthy paperwork has been eliminated and communication between departments is smoother - everything from the purchase requisition to the payment of the invoice takes place in a single environment.

The benefits and impact of digitalization

The introduction of the digital purchasing system has brought INTERAMERICAN a number of concrete benefits:

• Time saving: the time needed to process purchase requisitions and approve purchases in general has been significantly reduced. Processes that used to take days are now completed in hours or even minutes. Faster processing of requests means that staff don't have to wait as long for approval and delivery of needed items.

• Reduced costs: less manual work and paperwork means fewer mistakes and additional costs. Lower costs then have a positive impact on the company's bottom line.

• Greater transparency: digital workflow ensures compliance with approval rules and budgets, provides management with visibility into purchases and simplifies checks. Every step is automatically recorded, minimizing the risk of process workarounds.

Why is digitalization the future?

Digitalization is fundamentally transforming the way companies operate. Automated systems speed up data processing, minimize errors and support strategic decisions. Corporate procurement is no longer just about replacing paper - digitization brings advanced analytics and trend forecasting.

Artificial intelligence takes this even further. Companies utilize it for predictive analytics, risk identification and strategy. With the increasing pressure on sustainability and efficiency, digital tools are becoming a necessity for companies to operate successfully.

INSIO as an innovator in purchasing solutions

INSIO is an innovator in the field of digitalization of purchasing processes and helps companies to leverage their full potential. INSIO covers the entire purchasing process from the creation of a purchase request, through the selection of a supplier and confirmation of the accordance with the contract, to invoice approval and payment.

The case of INTERAMERICAN is a prime example of how innovative purchasing software can bring a company not only internal operational improvements, but also wider industry recognition.