JAN 20 2022 Case Study

HealthEquity Shrinks Lead Time for Onboarding New Suppliers by 70%

Background

HealthEquity is a Utah-based healthcare benefits and financial services company in the FinTech industry. As part of its risk management efforts, the company must evaluate all suppliers for data privacy and information security compliance. 

Challenge

When HealthEquity’s supplier base nearly doubled, the company needed a more efficient way to manage and monitor its growing supplier base.



Pain Points

  • Data living in different systems and programs
  • Outdated, often inaccurate supplier data
  • Low visibility into the supplier base
  • No cross-team communication 
  • Limited due diligence process

Goal

HealthEquity sought a complete solution that could connect all the necessary teams, offer visibility across the entire procurement process, and help clean up the data. 

Results

  • Greater visibility and reporting to leadership
  • Cleaner data, reduction in duplicates and inaccuracies
  • Ability to pinpoint high- and low-risk suppliers 
  • Identify bottlenecks and make necessary changes


Learn how graphiteConnect helped HealthEquity streamline day-to-day tasks, including:

#Case Study
#Risk Management
#Supplier Onboarding