Spanish banking group Banco Sabadell has signed a contract with IBM and SAP for the development and implementation of an electronic system to automate and streamline its procurement processes.
The project involves several stages starting with the creation of an electronic catalogue of goods and services which will be used by the bank's 1100 branches to place orders for office materials and manage payments to suppliers.
The system will be based on SAP's purchasing technology which will provide the bank with wide-ranging functional coverage and support for budget processes as well as cost control, strategic purchasing, logistics management (warehouses), accounts payable and accounting, property management, facilities management and fixed assets processes.
At the first stage, a new 'business intelligence system' will also be implemented to support decision-making and to provide an analysis of the bank's procurement processes. This is expected to take eight months, and will be led by a multi-disciplinary team of Banco Sabadell, IBM and SAP professionals.
The bank says the new e-procurement system will help it to reduce costs and optimise its resources.