Financial institutions continue to face increased regulations, tighter controls and greater scrutiny from their governing bodies worldwide. Governance and risk management are critical to managing their reputation. The consolidation of businesses, navigation of emerging market requirements, the need for secure and traceable transactions, and continued pressure on containment and reduction of cost add even more pressure. In order to respond to these market dynamics, financial services organisations need to ensure regulatory compliance and have complete spend and supplier visibility across the entire procurement process.
That is why the best run financial services procurement organisations partner with BravoSolution to deliver more value to the business by identifying additional cost savings, improving controls and oversight, leveraging supplier relationships and mitigating risk.
With BravoAdvantage, financial services procurement organisations can:
- Actively measure and manage spend performance
- Proactively identify new sourcing opportunities, better manage compliance and more accurately report on savings
- Onboard, segment and manage suppliers based on performance, risk and future development
- Automate simple and complex sourcing events to reduce cycle times, increase, transparency and deliver faster ROI
- Link contract performance to Supplier Value Management for a single repository for creating, storing and tracking contracts
- Unlock massive savings in critical categories by analysing sourcing scenarios to find the most advantageous approach
- Buy and pay for goods and services in a simplified, paperless, and cost-efficient way