Bear, Stearns & Co. is to implement services relationship management (SRM) software from Niku across its entire IT division in a bid to improve operational efficiency.
Bear Stearns plans to deploy Niku 6 to 2000 users. The software will enable the bank to align its IT operations with company priorities through the automation of priority, project, resource, financial and knowledge management, and the relationships between them, says Niku.
John Elliott, a Bear Stearns managing director in the program management office, notes: "After an exhaustive review of all the major SRM-like vendors, we determined that Niku provided the functionality, scalability, and quality that could best be tailored to Bear Stearns' environment."
Niku recently closed a similar deal with HSBC.