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”:
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