HOME TRUST have been seen as bottleneck functions within the organisation , the view has changed dramatically as a result of the pandemic .
“ The disruptions we all felt and continue to feel within supply chains , as well as the unprecedented reliance on IT Vendors for the business continuity , elevated the importance of the robust procurement and vendor management strategy .
Home has taken this one step further , and shed the concept of the conventional vendor management practice , to partnership management , where vendors are not just the service or product providers , but are a critical part of our roadmap and continues success .” Cancar-Todorovic says the traditional measures of success for procurement were always based on savings or value for money . That outdated concept has now been replaced by the value of ownership . “ We focus on strategic partnerships based on mutual trust and respect , efficient operating models , financial stewardship , risk containment , supplier management , reliability , sustainability , appetite for innovation , and passion for customer experience .”
Strategic partnerships in procurement Partnership roles have been essential in making sure the massive shifts that have occurred over the past two years have been dealt with smoothly . As an organisation Home Trust is in the final stretch of its IGNITE program , a multi-year , digital transformation initiative for the company . In addition to a significant SAP re-platforming , it involves numerous other strategic vendor partners . IGNITE drives significant improvements in Home ’ s ability to manage deposits , loans , treasury , and syndications , while allowing us to streamline financial operations , and enhancing our ability to deliver superior customer service .
“ Aside from IGNITE , which is an overarching program , we have numerous different initiatives of a transformative nature ,” says Cancar-Todorovic . These include digital banking , credit cards , and contact centres , that all demand a strong and strategic sourcing strategy and a robust vendor management program .
“ Even within our own procurement team , we have engaged a number of vendors to help us automate our processes , making us more efficient , resilient , and adaptable to business needs . We have partnered with ServiceNow to ensure that we have a robust in-take process and embedded workflows , ensuring adequate controls are put in place in line with our organisational risk appetite .”
Home Trust also partnered with DocuSign , a collaboration that has been instrumental in the sourcing business continuity , especially as the company moved to the work-from-home model in early 2020 .
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