Bank of Montreal has gone live with Oracle's online procurement service to automate, decentralise and analyse its purchasing transactions.
According to Karen Rubin, vice president, strategic sourcing, at Bank of Montreal, the bank is re-engineering the methodologies it uses to purchase the C$1.9 billion of goods and services it buys each year.
"We chose Oracle.com because we didn't need to customise the software. As a result, we're able to take advantage of normal upgrades and lower our ongoing maintenance costs. And, by choosing an online procurement service, Bank of Montreal is able to concentrate on value-added procurement tasks instead of IT infrastructure, " says Rubin.
Oracle iProcurement uses workflow technology and self-service applications to deliver automated transaction processing to the desktops of the bank's employees. Using a standard browser, these employees have access to catalogues from which to procure items within the bank's established business rules and pricing policies.
In addition to Oracle iProcurement, the bank has implemented Oracle Internet Expenses, Oracle Accounts Payable and Oracle Fixed Assets.