Internet-based Services eProcurement (SeP) Platform Implementation

BearingPoint Provides an Enterprise, Internet-Based, Managed Services Solution for Contingent Workforce Needs

The Client

One of the largest banks, in the United States, provides banking and investing services, corporate and investment banking, and financial products and services through state-of-the-art technology to individuals and businesses across the United States and around the world. It serves customers through more than 4,000 domestic offices, 38 international offices, and almost 100 regional client telephone service centers. It is one of the largest online banks in the United States with over 3 million clients.

The Challenge

For the client, sourcing, hiring, and management of contract and temporary services were accomplished under the auspices of the client’s company-wide contractor management program. The bank channeled all requests for technical professionals through the contractor management process to derive purchase volume that in turn contributes toward lower rates. The client procures a significant amount of IT contract and temporary services via phone, fax, and e-mail to augment its permanent workforce. The inefficiencies of this process resulted in the client experiencing long procurement cycle times, higher expense levels for contract labor, and an absence of vital information regarding supplier quality and performance. The client sought an Internet-based solution with the capacity to support at least 500 suppliers and 3,000 contractors in the contractor management database.

The Solution

BearingPoint and Covendis were selected to implement an enterprise-wide, Internet-based solution that would be available to the bank’s hiring managers, administrative staff, customers, suppliers and contractors at any time from any location. BearingPoint and Covendis enabled the client to, more quickly and efficiently, engage and manage talented contract labor for IT functions via Covendis?Internet-based Services eProcurement (SeP) Platform. This arrangement also positions the client to expand its category offerings, generate an additional revenue stream, and improve customer acquisition while providing the highest level of service and value via this secure, scalable, state-of-the-art technology.

The Benefits

By bringing both SeP skills and managed services experience and process knowledge to the implementation, BearingPoint and Covendis were readily able to identify and address potential trouble spots before they became issues, enabling a smoother and more timely implementation. As a result, the client enjoyed a rapid implementation schedule allowing for faster time-to-market - making this bank much more capable of achieving its aggressive ROI goals. They are now able to select better candidates in less time, improve recruiter and hiring manager productivity, reduce the time spent on processing paperwork, ensure that preferred suppliers are used, buy from the most competitive suppliers, and measure spending, process and participant performance via reporting.