Vietnam Private Bank

With more than 300 branches and sub-branches across Vietnam, client is one of the leading private sector banks in Vietnam. To support the strong growth and expansion of business, client believed that its Source to Pay (S2P) processes need further enhancement and strengthening.

KPMG supported client on this objective by first assessing different aspect of its procurement function such as Source to Pay processes, roles / responsibilities and procurement spend to identify areas of improvement. As a part of the transformation journey, 

1. PR to PO process was streamlined to minimize the procurement lead time 
2. Supplier and contract management processes were developed for an effective sourcing
3. Appropriate controls were added to these processes to make them more robust and reduce procurement risks
4. Supporting tools and templates (like supplier onboarding, supplier selection, supplier performance management, etc.) were developed to support the procurement activities 
5. Automation opportunities were identified
6. Competency matrix was developed to minimize role-capability gap
7. Key Performance Indicators (KPIs) were developed to monitor the procurement performance

This engagement has brought about standardization of procurement processes and have laid a strong foundation for the implementation of procurement solutions in the future.