Thursday, December 04, 2008
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"Technology"
Lloyds looks to e-procurement for improved spend visibility
A new e-procurement system has enabled Lloyds TSB to “dramatically” improve its spend visibility, according to one of the company’s most senior procurement figures.
Speaking at the SAP World Tour conference in London, Mark Swyny, procurement enablement director, Lloyds TSB, said the company’s current technology roll-out was speeding up procurement processes and giving buyers the information they need.
“We are dramatically improving our spending, our ease of complying with regulations, and the visibility of our procurement,” he said.
Lloyds TSB plans to integrate the e-procurement platform directly with its finance, human resources and business intelligence systems.
In 2007 the company rolled out SAP supplier relationship management, a function that is now used by 22,000 of its staff.
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