The new e-procurement consulting bank downunder
(Australia) - Australia's Commonwealth Bank (CBA) is establishing an innovative new electronic procurement consulting unit to provide advice to its corporate clients, many of whom are at a loss in e-procurement.
Part of the Bank's business development division, the new consulting unit is looking to integrate procurement payment services into banking and financial services CBA already provides these customers. In independent research amongst both Australia's Top 500 corporates and middle corporate markets, East & Partners has also identified a clear need for such support; a requirement that interestingly, many of these corporates see as being ideally satisfied by their banker(s).
The Bank is an existing, extensive user of e-procurement solutions internally, producing around 600,000 procurement transactions this year 70 percent of which will be transacted electronically - much of which has been reported on in earlier issues of ACB.
At an estimated A$100-130 per manual procurement in transaction costs to the Bank itself, there is clear opportunity for significant improvement, something the CBA is looking to help customers achieve as well.
The Bank is an existing, extensive user of e-procurement solutions internally, producing around 600,000 procurement transactions this year 70 percent of which will be transacted electronically - much of which has been reported on in earlier issues of ACB.
At an estimated A$100-130 per manual procurement in transaction costs to the Bank itself, there is clear opportunity for significant improvement, something the CBA is looking to help customers achieve as well.
Subscribe