Insight Sourcing Recognized as S.P. Richards’ 2014 Strategic Partner of the Year
ATLANTA, Georgia – April 22, 2014 – Insight Sourcing Group announced today that it has been named Strategic Partner of the Year by S.P. Richards Company, a wholly owned subsidiary of Genuine Parts Company and leading wholesale distributor of business and office supplies, at the 2014 S.P. Richards Supplier Summit in Orlando, Florida.
“It’s an honor to receive such a prestigious award from a world-class company like S.P. Richards,” said Tom Beaty, President and CEO at Insight Sourcing Group who was in attendance to receive the award. “We are thankful for their recognition and proud to count them and the entire GPC family as clients.”
At the Summit, S.P. Richards CEO Wayne Beacham highlighted not only the work Insight Sourcing Group has done but gave special recognition to the Witness to War Foundation, a non-profit organization dedicated to preserving the oral histories of combat veterans through video interviews. Founded by Beaty in 2002, Witness to War has interviewed over 1,200 veterans with the mission to preserve their stories for their families and future generations, to honor the veterans by posting professionally edited combat stories on www.WitnessToWar.org, and to educate the public on the sacrifices made to preserve our freedoms.
Insight Sourcing Group’s partnership with GPC began when ISG performed a company-wide spend assessment and utilized its proprietary spend visibility tool, SpendHQ®, to strategically identify and quantify savings opportunities across GPC. As a result of this assessment, GPC and ISG have launched numerous strategic sourcing projects to realize savings across numerous spend categories.
About S.P. Richards
S.P. Richards Company, a wholly-owned subsidiary of Genuine Parts Company (GPC: NYSE), distributes a wide spectrum of business products to office products resellers throughout the U.S. and Canada. These products include consumable office supplies, office furniture, computer supplies, consumer electronics, safety and security items, cleaning products, breakroom and food service supplies from all of the major industry manufacturers. S.P. Richards Company markets several proprietary lines under the brand names of Lorell®, Integra™, Sparco™, Genuine Joe®, Nature Saver®, Compucessory®, Elite Image® and Business Source®. The company operates 41 Distribution Centers across the United States and Canada.
About Insight Sourcing Group
Insight Sourcing Group helps its clients improve earnings by reducing procurement-related costs. Working with senior executives, purchasing teams, and other stakeholders, ISG drives savings by providing strategic sourcing expertise, implementing procurement best practices, and increasing spend visibility. With hundreds of satisfied customers and thousands of sourcing projects completed, ISG has developed a reputation for delivering big impact. Typical client results include an average of 10-30% EBITDA improvement, 850% first-year return on investment, and project payback in less than 90 days.
The company’s spend visibility solution, SpendHQ, helps clients maintain these savings by making it easier to track internal compliance, while also bringing greater clarity to future sourcing decisions.
Founded in 2002, ISG is the leading procurement and sourcing strategy firm in North America. The company’s leadership includes Fortune 500 procurement executives, as well as alumni from consulting firms like Accenture, A.T. Kearney, Deloitte, KPMG, and McKinsey & Company.