SMBC GROUP
Separately , SMBC ’ s procurement is contracted with Util , a London-based fintech company . Util has extensive data-mining capabilities used to identify individual company performance against the United Nations ’ Sustainable Development Goals , which are helpful in assessing SMBC ’ s suppliers against its ESG corporate goals and identifying exposure to reputational , legal , or financial risk .
The future of SMBC ’ s procurement : the next 12-18 months By the end of this year , SMBC plans to have Coupa fully implemented in the U . S . and procurement fully operational for the region . The implementation of Coupa is significant , in that it includes the full suite of core functionality :
• Increased visibility into supplier spend and contract management
• Centralised contract repository , contract templates and full contract lifecycle capabilities
• Electronic supplier invoicing with improved governance to ensure invoices are tied to approved purchase orders and underlying contracted commercials
• Auditable , traceable source-to-pay workflow with visibility into “ who has the ball ”
• Checks and balances through predefined workflows , approval chains , and designated tolerances to mitigate rogue spend
• Alignment with Bank and regulatory requirements .
• Supplier onboarding ( SIM )
• Contract lifecycle management ( CLMS )
• Invoice processing ( P2P )
• eSourcing
• Coupa Risk Assess to support SMBC ’ sthird-party risk management programme
“ We ’ re also breaking new ground this year with the implementation of eSourcing and Coupa Risk Assess ,” says Wadsworth .
“ Given the transformational nature of this implementation and the centralisation of procurement for the region , our primary focus will be on implementation planning and change management activities across the region .”
Value Delivered According to Wadsworth , “ While we are still on our Procurement transformation journey , we have delivered significant value to the Bank to-date ” :
60 September 2022