HBOS has implemented a risk management system from Kalido to handle procurement worth £2.5bn from 20,000 suppliers.

It has been invaluable in delivering the cost savings we required, said Sharon Reason, procurement specialist-systems at HBOS.

The SRM system provides a single view of purby 150 users in the procurement business." The software offers the procurement team common descriptions about commodities and categories.

HBOS using the new system can interface with rating agency Dunn & Bradsheet.

Related Articles
RiskWatch On IT Risk
Caterpillar and Internal Controls
Protiviti ERM Guide
Corporate Risk Insurance
OpenPages Fuses SOX with Operational Risk
Archer Sarbanes-Oxley Launched