Spend Control for Financial Services

Customer expectations of financial services are changing

Strong competition, stricter regulations and corporate governance requirements are daily realities for financial services organisations, while speed, accuracy and performance is essential for attracting, supporting and retaining clients. Your procurement and finance decisions play a pivotal role as to whether your organisation can meet the rising expectations and requirements.

For example, a lack of real-time data for spend management means banks and others can fail to spot opportunities to take advantage of purchasing trends, manage suppliers better and improve sourcing – on everything from office and IT supplies to building maintenance. And while companies understand the value of risk management and the threat of fines, they don't always see serious vulnerabilities that exist within their supplier base – or know how to manage due diligence across thousands of suppliers, categories and countries.

Organisational challenges can flare up too. Mergers, acquisitions and the separation of some retail and investment operations – ordered by regulators – can cause problems when disparate teams, legacy systems and data fail to fit the new shape of an organisation. Traditional operating models cannot cope with so many fast-moving pieces.

The trouble is, traditional operating models cannot cope with so many fast-moving pieces. Forward-thinking executives are looking for innovative strategies, fresh operating practices and new technologies to control spend.

Take spend control and supplier management to the next level

Recognise and seize opportunities that others miss – transform the way you source, purchase and pay for all types of goods and services.

With Proactis, you can use new capabilities to further reduce cost and risk, and to ensure regulatory compliance in the way you buy everything from office and IT supplies to temporary staffing. You can streamline the way you interact with your supplier base and you can use supporting technology frameworks with the flexibility to smoothly evolve with inevitable organisational and regulatory change over time. You can respond to market and regulatory changes in a way that drives greater efficiency and compliance within key back-office processes.

Our solutions don't just add technology for the sake of it, they create savings, value and competitive advantage.

It's now possible to seamlessly manage your supply-chain and contracts, reduce risks, and create more purchasing strength. Up-to-date supplier performance measurement and risk identification are critical, but possible via the correct system. You can control out of contract spend across the whole organisation via Guided Buying to ensure that all staff get what they need, when they need it, from approved suppliers – at previously negotiated contracts.

Having visibility and control of cost against budgets via a strong P2P process helps department managers effectively manage budgets by driving value back into your business strategy through planning, forecasting and cost control. Having clear visibility into your “all in” transactional cost will help you make better-informed decisions. Staff will also be freed up to concentrate on value-add tasks as a strong P2P process, underpinned by well-integrated technology, ensures that the processing of thousands of time-consuming and labour-intensive operations is automated.