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CREDIT SUISSE UNLOCKS VALUE WITH SUPPLIER CONTRACT PERFORMANCE MANAGEMENT TRANSFORMATION
The Challenge Credit Suisse operates in over 50 countries and its global business footprint is supported by a massive, geographically distributed supplier base. That supplier network provides a diverse mix of complex services that are inherently difficult to track. A global vendor management office (VMO) was created to oversee supplier contract performance management and ensure compliance with regulatory guidelines. However, Credit Suisse's IT landscape was siloed, comprising multiple point solutions. It lacked a unified view of vendor contracts, their deliverables, timelines, and performance. To remedy the situation, the bank resolved to: •
Credit Suisse, one of Europe’s oldest banking institutions, is a global financial services firm that employs over 45,000 people and currently manages assets with an aggregate value exceeding CHF 1.5B.
Over the years, the bank has come to rely on an expansive network of third-party supplier partners to outsource its IT, KPO, BPO, and facilities management requirements.
Gain 360-degree visibility into its supplier base – Supplier contracts were stored across multiple systems, and needed to be centralized.
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Automate regulatory reporting – Manual processes to collate data from multiple systems for regulatory reporting were highly cumbersome.
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Demonstrate value from strategic relationships – Limited visibility into its supplier base hindered the bank's ability to understand supplier performance and obligation compliance at a deeper level.
Credit Suisse determined to transition to a contract lifecycle management (CLM) platform to bridge its existing P2P and risk management platforms, simplify vendor management processes, and improve compliance.
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