Barclays to move procurement jobs to Singapore

Top finance executives upping the fraud stakes

Analysis: Infosys move could signal M&A flurry

Shanduka ups stake in Shanduka Coal

Executive debate: What comes first, quick bucks or big changes?

Big banks: Where does the buck stop?

Copper–Bottomed Markets?

Euro & oil dip, no respite for Spain

Korea Exchange Bank Executes Smarter Spending Strategies

Airbus suppliers warn of credit squeeze ahead of production hike

Articles in category: Financial Services

1. G8: It’s time for action on money laundering Explore space for transparency (Jun 11 2013) Procurement Ethics , Financial Services The UK Government has announced that transparency and anti-corruption will be key elements at the G8 summit this year. Much needed action on money laundering provides an opportunity to live up to that promise. Corrupt money flows through the UK – in particular through our financial services industry. Why don’t we know how much money is laundered, or who owns it? There are three reasons. First, those who hope to benefit from the proceeds of corruption try very hard to hide their money..................... , but it is [...] (Read Full Article)

   Comment Mentions:   London   Shell

2. Procurement and supply chain management within a rapid response environment Explore purchasinginsight.com (May 23 2013) Financial Services I’ve often said, somewhat provocatively, that e-procurement doesn’t work. It does work of course but often only in the most straight forward of environments. Keeping the stationery cupboard stocked up isn’t the most challenging of business situations and even when you can address lots of spend, getting people to comply is a change management challenge that, in some corporate cultures, is impossible to overcome. Step outside of the office and you face new challenges. How, for example, do you impl (Read Full Article)

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3. Companies will "gamify" training content Explore Procurement Leaders Network (Feb 20 2013) Financial Services , Leadership Gartner predicts that by 2015 40% of Fortune Global 1000 companies will be using gamification in some aspect of their business. The analyst house states that businesses and training providers have taken to "gamifying" their training material. By transforming boring data into fun games, fixed corporate objectives can be achieved more easily. For instance, Thomson Reuters has recently put compliance training firm True Office under contract to create gamified training material for its employees. It will be used to enhance skills in fields such as regulation and compliance of the international financial services industry.  (Read Full Article)

   Comment Mentions:   Gartner   Procurement Leaders Network   Thomson Reuters

4. HSBC outsources FM across property portfolio Explore Procurement Leaders Network (Jan 28 2013) Financial Services , Services Procurement This is the largest facility management contract awarded to a single provider on a global basis by a financial services firm, according to HSBC.The practice of outsourcing non-core real estate functions to dedicated third-party experts has increased in recent years as service providers have attempted to expand their abilities to deliver consistent services across broader geographies and corporations have better understood the productivity benefits of outsourcing, according to Jones Lang LaSalle.  (Read Full Article)

   Comment Mentions:   Africa   Mexico   China

5. Barclays turns to open source software for savings Explore Procurement Leaders Network (Jan 8 2013) Procurement Technology , Financial Services Reports by Computer Weekly suggest that the bank will cut its software development costs by up to 90%, equal to billions of pounds worth of savings, but the plan will also bring many other benefits. Barclays plans to introduce a Linux system, which removes the need to pay a license fee such as those needed to use a Microsoft or Oracle system.............     (Read Full Article)

   Comment Mentions:   Oracle   Microsoft

6. Standard Bank commits to renewables Explore iol.co.za (Nov 7 2012) Sustainable Procurement , Financial Services Standard Bank has emerged as the leading investor in the first round of the renewable energy independent power producer (REIPP) procurement process‚ backing a total of 11 wind and solar projects. Standard Bank said on Wednesday it will provide comprehensive corporate and investment banking services to all its clients‚ including underwriting R9.4-billion worth of debt‚ providing interest and currency hedges‚ carbon trading credits‚ and corporate bonding and guarantee facilities. (Read Full Article)

   Comment Mentions:   South Africa

7. Review urges World Bank to support developing nation vendors Explore supplymanagement.com (Oct 15 2012) Financial Services , Transport & Logistics The financial institution should change its procurement guidelines so suppliers in developing countries have a better chance to win contracts, according to Eurodad. (Read Full Article)

   Comment Mentions:   India   Brazil   Russia

8. Lloyds Procurement / Invoicing fraud – manager sent down for 5 years Explore spendmatters.co.uk (Oct 14 2012) Procurement Ethics , Procurement Technology , Financial Services We recently featured the case of the Lloyds TSB senior manager who was accused of fraud. Jessica Harper was found guilty and last week she was sentenced to 5 years in prison. Jessica Harper - going down...Previous reports explained how she had falsified invoices to her own benefit and had received around £2.5 million from the bank through this means. That’s a pretty well known and basic fraud, but there was one new aspect that came out in court that added a slightly different slant to this case. (Read Full Article)

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9. Big banks: Where does the buck stop? Explore space for transparency (Sep 28 2012) Procurement Ethics , Financial Services After four years of economic crisis and financial scandal, finally some good news. Eighty-five per cent of bank employees surveyed believe that their companies have an ethical duty to fight corruption. That is a finding from our survey of 3,000 businesspeople in 30 countries: Putting Corruption out of Business ..... (Read Full Article)

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10. Bankserv, a very private company Explore BDlive (Aug 29 2012) Financial Services A great deal is going on in the banking sector, some of it reported, much not. That’s because, as Finance Minister Pravin Gordhan was quoted in this newspaper as saying, the financial sector operates an "opaque" fee structure. (Read Full Article)

    Comment Mentions:   Pravin Gordhan

11. Euro & oil dip, no respite for Spain Explore iol.co.za (Jul 20 2012) Financial Services European shares edged away from four-month highs while oil eased afer 8-week peak. ||| European shares edged away from four-month highs and Spain's borrowing costs hovered around their seven percent pain threshold on Friday despite the expected approval of its bank bailout plan later in the day. Oil prices also eased after hitting an eight-week peak on supply concerns linked to rising Middle East tension, but the rally in soft commodities, which has seen corn and soybean prices soar to record highs, showed no signs of abating. The FTSEurofirst 300 index of top European companies was down 0.25 percent ... (Read Full Article)

    Comment Mentions:   Reuters   Asia   France

12. American Express Launches digital payment service PAYVE Explore sharedserviceslink.com (Jun 28 2012) Spend Analysis & Benchmarking , Financial Services American Express launched PAYVE, a new digital payment service that enables large and mid-size companies to centralize the processing of multiple payment methods through a single, easy-to-use electronic platform. The service will enable companies to improve working capital and cash flow management while streamlining accounts payable processes (Read Full Article)

    Comment Mentions:   American Express

13. Shanduka ups stake in Shanduka Coal Explore iol.co.za (Jun 28 2012) Supplier Diversity , Financial Services , Metals & Minerals Shanduka Group and Glencore have finalised the transaction whereby Shanduka Group has increased its shareholding in Shanduka Coal from 30% to 50.01%. ||| Johannesburg - Shanduka Group and Glencore International Plc. have finalised the transaction whereby Shanduka Group has increased its shareholding in Shanduka Coal from 30% to 50.01%. Glencore retains a 49.99% shareholding in Shanduka Coal post-transaction. The deal involved the acquisition of shares in exchange for a cash payment by Shanduka Group and the transfer of its 30% shareholding in Kangra Coal to Shanduka Coal. Shanduka Coal owns 100 per cent of the Graspan Colliery and the ... (Read Full Article)

    Comment Mentions:   Glencore   Johannesburg   Eskom

14. Supplier diversity to boost economic growth, job creation Explore Engineering News (Jun 27 2012) Preferential Procurement , Supplier Diversity , Supplier Relationship Management , Financial Services , Manufacturing & Automotive Promoting sustainable supplier diversity would spur job creation and boost economic growth in South Africa, Klein Inc Management Consultants owner Venete Klein said on Wednesday. Speaking at the South African Supplier Diversity Council’s (SASDC’s) first yearly conference, held in Johannesburg, she pointed out that sustained supplier development could instill proudly South African business and identity. (Read Full Article)

    Comment Mentions:   South Africa   Johannesburg

15. ‘Surviving the bank killing zone’ Explore iol.co.za (Jun 24 2012) Financial Services Investment banking faces a shakeout. ||| Investment banking faces a shakeout and only large commercial players and boutiques offering outstanding service will survive and prosper, the head of emerging markets banking specialist Renaissance Group told Reuters. Investment banks are undergoing wrenching change as weak financial markets force companies to pull back on raising capital and striking deals, cutting the flow of fee income that had formed the lifeblood of the business. “The industry will end up with a barbell of a small number of these enormous, essentially commercial banks, which have investment banking operations,” said Stephen Jennings, chief executive of Russian ... (Read Full Article)

    Comment Mentions:   Reuters   Africa   Russia

16. Barclays to move procurement jobs to Singapore Explore supplymanagement.com (May 30 2012) Financial Services The financial services firm is to relocate some UK procurement roles to the Asian country as part of a plan to reduce costs by £2 billion by 2013. A spokesman for Barclays confirmed the news to SM. “Certain key roles are to be relocated from the UK to our global procurement centre in Singapore where we already have a significant infrastructure presence. (Read Full Article)

    Comment Mentions:   Singapore

17. Lessons from a very public resignation Explore Procurement Leaders Network (May 28 2012) Financial Services , Careers Most everyone has heard of Goldman Sachs, the global banking and securities firm. And by now, most have probably heard of Greg Smith, former executive director and former head of the firm’s US equity derivatives business in Europe, the Middle East, and Africa. I don’t know if Smith is right about his assessment of the firm, or if Goldman Sachs’ rebuttal is right. But I think there are a few lines from the column that hold lessons for procurement. (Read Full Article)

    Comment Mentions:   Africa   Goldman Sachs

18. Procurement Outsourcing Market Saw Second Consecutive Year of Record Growth Explore Supply Chain Management Review (May 19 2012) Outsourcing , Financial Services , Retail & CPG/FMCG , Marketing & Advertising , Transport & Logistics The multi-process Procuring Outsourcing market will grow about 15 percent and reach $1.8 billion in annual contract value (ACV) in 2012, representing managed spend of about $220 billion, according to a new research report, Procurement Outsourcing Annual Report 2012 – The PO Market: Steadily Marching Forward, published by Everest Group, a global consulting and research firm. (Read Full Article)

    Comment Mentions:   IBM   DHL   Infosys

19. Businesses realising the advantages of factoring Explore sharedserviceslink.com (Apr 16 2012) Risk Management , Financial Services Worldwide volume for factoring increased last year by 22% on 2010. Factoring is often used to fill the gap in the purchase-to-pay process between the raising of an invoice and the receipt of payment, providing a welcome injection of cash. (Read Full Article)

    Comment Mentions:   Russia

20. Tips on Maximizing the Return on Your ERP Investment Explore Supply Chain Management Review (Apr 5 2012) Procurement Technology , Financial Services This white paper describes two strategies organizations can employ to maximize the returns from their ERP investments: Use a proven methodology to speed implementation and achieve ROI faster, and define and track metrics to measure progress in meeting business objectives. (Read Full Article)

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21. PL Forum Chicago: TD Bank Cpo - getting on the CEO's agenda Explore Procurement Leaders Network (Mar 29 2012) Financial Services , Leadership Every CPO would vouch for the importance of getting on their CEO’s agenda and TD Bank CPO Caroline Booth gave those attending the Procurement Leaders Forum, Chicago yesterday four important tips for accomplishing just that. (Read Full Article)

    Comment Mentions:   Chicago

22. Sourcing the Management Consulting Category: An Insider's Viewpoint Explore Spend Matters (Mar 8 2012) Sourcing , Financial Services , Services Procurement Spend Matters welcomes a guest post from , Principal and Sourcing & Procurement Practice Leader at Archstone Consulting (A division of The Hackett Group).Over the last 5-7 years, strategic sourcing organizations have started to addre... Over the last 5-7 years, strategic sourcing organizations have started to address complex professional services, including management consulting. Yet most of these sourcing initiatives have failed to deliver lasting savings or benefit to the organization. (Read Full Article)

    Comment Mentions:   Archstone Consulting

23. Procurement to tackle £3.5bn loss at Lloyds Explore Procurement Leaders Network (Feb 24 2012) Demand Management , Sourcing , Supplier Diversity , Financial Services , Leadership Advances in group sourcing at embattled British bank Lloyds will be a core strategy for addressing at least some of its massive £3.5bn loss, according to its latest results statement. (Read Full Article)

    Comment Mentions:   Procurement Leaders Network

24. Highest purchasing salaries on offer in financial services Explore supplymanagement.com (Dec 8 2011) Financial Services , Careers , Talent Management Procurement salaries in the financial services sector rise by 5 per cent, while the rest of the market remains static. Performance-related bonuses are bumping up the earnings of buyers working in financial services, which pays purchasers more than other sectors. (Read Full Article)

    Comment Mentions:   CIPS

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