HBOS extends CedAr e-procurement contract for further three years
23 April 2004 | 2595 views | 0
CedAr, the UK financial and eProcurement solutions provider, today announced that HBOS, the financial services organisation formed following the merger of Halifax and Bank of Scotland, has signed a 3-year contract extension for CedAr to host its eProcurement application. The eProcurement solution deployed by CedAr was rolled out across the entire HBOS organisation between June 2000 and July 2003 and there are now over 10,000 users of the system.
A key project driver for HBOS Group eProcurement was to deliver significant savings as part of the merger between Halifax and Bank of Scotland. The CedAr system was an integral component in allowing HBOS Group Procurement to exceed its savings targets.
HBOS's e-Procurement system covers all manner of goods including stationery, , marketing collateral, promotional items, catering and travel. etc. HBOS chose to host its e-Procurement system externally in order to avoid heavy upfront investment in the infrastructure necessary to deliver the system. By hosting the system externally, HBOS has also minimised its involvement with issues relating to rolling out the solution across the organisation and to external agencies.
According to Des Quigley, Group Procurement Systems Manager at HBOS, "We are very pleased with the performance of CedAr and of the e-Procurement system. Our decision to extend the contract for another three years is testimony to this performance and in our confidence in the service provided."
He continues, "It has proved a great success for us and we have been able to roll out e-Procurement very quickly. The knowledge generated by the system enabled us to re-structure contracts with suppliers across the group and has saved us significant amounts of money. We also know what has been ordered - and by whom - and as such, we are much better able to manage our whole supply chain."
Mark Thompson, Managing Director, at CedAr adds, "The success of the e-Procurement project at HBOS has led to the extension of the contract. The two companies have worked well together to develop the e-Procurement solution to perfectly fit HBOS' requirements. We look forward to the continued success of this relationship."