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Keith McCarraher, Special Projects Manager, Genuine Parts Company
Spaulding Ridge client Genuine Parts Company came to us with a fragmented and siloed contracting process across its Legal, Vendor Management, and Commercial Sales teams. Hear from Deacon Keith McCarraher, Special Projects Manager at GPC, on how a partnership with Spaulding Ridge streamlined their contracts and unified their expansive business.
About Genuine Parts Company
Genuine Parts Company (GPC) is a prominent global industrial company that specializes in the distribution of a wide range of products, including automotive parts, office supplies, and electrical components. With a vast network of subsidiaries and branches, the company serves businesses and consumers by providing essential products and services. GPC employs over 58,000 people and has an annual revenue of $22B.
Before:
Lack of “Single Source of Truth” and Hindered Reporting Capabilities
When GPC approached Spaulding Ridge, the company lacked a centralized repository for contracts, leading to siloed storage of information. Additionally, the absence of established contracting processes and systems resulted in the retroactive addition of metadata to some documents and hindered efficient data collection and reporting capabilities.
Solution:
Centralized Contracting Capabilities Across Departments
Spaulding Ridge implemented a global contract generation, review, and approval process for the legal team, including NDA/MSA contracts, creation of legal documents for real estate deals, and the ability to upload third-party documents. Additionally, similar transformations were extended to other departments, such as HR, finance, IT, and commercial sales.
After:
Standardization of Vendor Contracting Process and Enhanced Transparency for Stakeholders
Following the implementation, GPC experienced a global approach to contract management, enhancing process standardization and vendor contract management. This led to increased transparency in contractual commitments by vendors, breaking down silos within the IT function.
They then signed a Managed Services contract with Spaulding Ridge to continue their support and system maintenance.
“We were so impressed with Spaulding Ridge and the work that they do that we signed a contract with them for managed services.”
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