The response was a complete transformation. The team executed a strategy to digitize commercial contracts, implementing automated workflows and are now integrating cutting-edge blockchain technology to redefine the entire “Source-to-Cash” process.

Impact:

1. Unprecedented Transatlantic and Financial Velocity: The project delivered immediate, quantifiable financial impact to Verizon, optimizing cash flow on a massive scale.The initiative did not merely speed up the process; it eliminated 151 days from the average contract cycle time. The team also accelerated the time-to-invoice suppliers by 73%.

2. Enforcing Global Market Standardization: The Irish team has effectively seized control of the market standard. By establishing a “single global enterprise standard approach” for OEM investment (co-investment in promotions) contracting, this innovation has standardized operations across major global technology giants. It is reshaping the fundamental market dynamic for how telecom providers and device manufacturers interact financially worldwide.

3. The Apex of Digitization and Blockchain Innovation: The project meets the highest criteria for “Digitization/Artificial intelligence” by moving far beyond simple process optimization into advanced technological application. The team has transitioned from antiquated paper to “encapsulated” and “smart contracts” that autonomously validate transactions, ensuring immediate accuracy and compliance. By implementing an automated workflow and data that serves as the immutable single source of truth between Verizon and global OEM partners. This innovation eradicates manual reconciliation and eliminates data discrepancies, securing the financial relationship.

In 2025 this project was shortlisted for the 2025 World Procurement Awards in the “Supplier Collaboration & Innovation” category. Internally, the project won the “Luminary Award” from Verizon’s EVP for Verizon Global Services.