SMBC GROUP
to build a supplier spend analytics data lake .” In addition to tracking supplier spend information , it was equally important for SMBC to assess KPIs for its procurement operations function to better understand transactional throughput and processing times , with a view to identifying any bottlenecks in its process .
“ Since deploying Coupa , 75 % of our invoices are now processed electronically with a mean days-to-pay of three days from the time an invoice is approved ,” he says . “ Applying a data-driven and analytical approach is foundational to making informed decisions and appropriately aligning our procurement strategy and operations .”
DID YOU KNOW ...
SMBC was founded more than 400 years ago when the Sumitomo and Mitsui family businesses came together , bringing together their diverse products and services and expanding their business . The Mitsui Bank was established in 1876 , followed by the establishment of the Sumitomo Bank in 1895 . Two decades later , the first branch was opened in the U . S . in San Francisco and in 1918 , the New York Agency was established .
In the intervening years , the Sumitomo Bank and the Mitsui Bank opened different offices and branches , including in Brazil and Los Angeles . The two banks merged in April 2001 , forming what is now SMBC . The firm has a long-standing tradition of serving clients and businesses around the world with more than 86,000 employees across the globe in 140 offices in nearly 40 countries .
How the supplier-spend analytics data lake helps identify supplier-spend trends and reveals savings opportunities Procurement at SMBC has created a supplier spend analytics data lake armed with PowerBI reporting capabilities , allowing both the procurement function and stakeholders across the bank to have quick , easy access to supplier spend reports for SMBC businesses and regions . Authorised users can report on supplier spend , applying dynamic reporting filters to view supplier spend data by :
• Region or country
• Line of business / group company
• Category of third-party goods and services
38 September 2022