Oriflame enters partnership with IBM to support digital transformation within IT and financial services
August 16 2016 - 2:58AM
Business Wire
Oriflame Holding AG (STO:ORI), a global cosmetics company with a
highly online-driven business, has entered a long term partnership
with IBM (NYSE: IBM ) to outsource its IT and financial operational
services. In order to support the continued digital business
transformation of Oriflame in the IT and finance areas, IBM will
bring new levels of customer focus, productivity and automation to
its technology and internal processes. The seven-year contract,
valued at €46 million, is expected to provide Oriflame with annual
savings of approximately €3 million to be reinvested in Oriflame’s
continued IT development. No extraordinary costs are expected.
Oriflame believes that IBM’s expertise in analytics, cognitive
systems and cloud-based services is a good fit with Oriflame’s
growth strategy. Over the life of the contract IBM will introduce
cognitive tools, based on its proprietary technology Watson , for
spend analytics, payment terms optimisation and cash forecasting to
provide insights to allow reduced costs. Cloud-based enabling tools
aim to improve consistency, accuracy and efficiency.
“For Oriflame, already being advanced in the online area, this
partnership will be another leap forward in our digital business
transformation. IBM’s innovation in cognitive analysis for IT and
financial transactional services will provide us with valuable
business insights. Oriflame will continue to manage the IT
portfolio and develop its core systems,” said Gabriel Bennet, Chief
Financial Officer, Oriflame.
“IBM looks forward to supporting the digital transformation of
Oriflame’s business services with state-of-the-art services and
tools, including how it delivers technology, finance and accounting
services. We have implemented IBM Design Thinking techniques to
help build solutions which deliver a better user experience. We’re
very confident that this will bring a customer-oriented focus to
the delivery of IT and financial services for Oriflame,” said Anita
Karlsson-Dion, VP Client Services, IBM Global Business Process
Services.
IBM was selected after a rigorous process evaluating cultural
fit, global presence and size, scope and value of offering, as well
as the ability to drive improvements to Oriflame’s business. The
new partnership will cover the entire Oriflame group, beginning in
September 2016 and fully implemented by the end of 2017.
Founded in 1967, Oriflame is a beauty company selling direct in
more than 60 countries. Its wide portfolio of Swedish,
nature-inspired, innovative beauty products is marketed through
approximately 3 million independent Oriflame Consultants,
generating annual sales of around €1.2 billion. Respect for people
and nature underlies Oriflame’s operating principles and is
reflected in its social and environmental policies. Oriflame
supports numerous charities worldwide and is a Co-founder of the
World Childhood Foundation. Oriflame is a Swiss company group
listed on the Nasdaq Stockholm Exchange. For more information about
Oriflame, please visit www.oriflame.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160815006281/en/
OriflameNathalie RedmoInvestor Relations Manager+41 799 220
173orSuzanne A. CrossIBM External Relations+1 617 693 1811
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