This was followed by design sessions for the deployment of GEP SMART source-to-pay software, which is built on GEP QUANTUM, our AI-powered, low-code application development platform for procurement, supply chain and sustainability solutions. The goal was not just to implement software but to ensure that it is aligned and configured to the set objectives. As a systemic lender, Hellenic Bank is closely monitored by the European Central Bank (ECB), and there are numerous compliance requirements that influence processes and decisions. The procurement project request, therefore, needs multiple validations and approvals that involve key internal stakeholders other than procurement, including TPRM teams.

The configuration we needed had to not just cover procurement but also address regulatory requirements due to our status as a systemic bank,” explains Christou. “We needed a solution that would cover everyone’s needs.” Risk assessments are conducted during the request, sourcing, approval, and/or contract stages depending on regulatory requirements. This can, for instance, necessitate additional contract clauses and other changes. These bank-specific processes required customizations, and additional interfaces had to be built into the system. Getting the project request process into the system was a key priority. It was also a complex process.