SMBC GROUP
Data
Driven Procurement: The SMBC Strategy
ago, when all invoices were processed manually. We’ ve loaded more than 2,500 contracts into Coupa, with a steady number of new contracts authored and approved through Coupa and executed through DocuSign every day.”
“ Separately, we’ ve established a supplier spend analytics data lake with PowerBI dashboards that allows us to quickly and easily assess spend across multiple regions, businesses, and spend categories.”
The importance of data to the procurement process“ Data is exceptionally important to everything we do,” says Wadsworth.“ As Peter Drucker, a leading management consultant and renowned author, once said,‘ you can’ t manage what you can’ t measure,’”
“ When I first joined SMBC in 2020, it was important to understand the existing supplier base and historical spend. A simple spend report by business and high-level spend categories was a manual and time- intensive exercise, pulling data from six ERPs( Enterprise Resource Planning systems), ten general ledgers, filtering, rationalising the data, and, finally, producing a simple PPT spend chart.”
Access to good, accurate data in a timely way is critical to making informed business and purchasing decisions. Wadsworth says:“ Given our long implementation runway with Coupa combined with the need to have quick and easy access to spend data across the regions, I partnered with Visionet
“ Data is exceptionally important to everything we do”
FRANK WADSWORTH MANAGING DIRECTOR AND CHIEF PROCUREMENT OFFICER, SMBC AMERICAS DIVISION
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