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Webinar Overview
Raiffeisen Bank International (RBI) faced the challenge of standardizing and digitizing the contracting process across its 14 independent network banks in multiple countries while complying with local laws and regulations. The bank needed to manage external and internal suppliers while ensuring compliance with various directives. Watch this webinar to learn how RBI worked with Sirion to address these challenges.
Watch on-demand below.
Raiffeisen Bank’s Global Contracting Excellence Journey
Speakers
Marcus Haberschusz-Beaufort
Group Procurement – Outsourcing & Cost Management, Raiffeisen Bank
Paul Branch
CTO, WorldCC
Scott Quinn
VP – Customer Success, Sirion
The Highlights
RBI embarked on a journey to overhaul its contracting processes with Sirion. They needed to address the unique challenges posed by RBI’s diverse and complex operating environment.
Below are the key takeaways from their journey:
Challenges and Strategic Response
RBI faced regulatory and operational hurdles across its extensive network spanning 13 markets. Leveraging Sirion’s AI-powered CLM technology, RBI aimed to streamline processes, enhance transparency, and ensure compliance.
Technology Implementation and Adaptation
Deploying Sirion across RBI’s network was done thoughtfully, considering the needs of different groups. This allowed for contracts in various languages and standardized processes, showcasing the platform’s versatility and ability to grow.
Benefits Realized
- A new CLM substantially improved efficiency, governance, and compliance. Notably, RBI reduced the time it took to find a contract in its repository, saw better adherence to contracting processes, and streamlined audit responses.
- Sirion helped RBI manage regulatory obligations effectively. The platform’s reporting and analytics capabilities made navigating GDPR and other requirements easy for RBI.
Collaboration and Future Roadmap
RBI’s partnership with Sirion exemplifies how technology partnerships can work together to change a company’s contracting processes completely. The partnership addressed immediate challenges and set a benchmark for contracting excellence in the banking sector.
When it comes to contract management, business teams have often historically “set it and forget it” — but a contract can be a vital source of business insight when managed well.
Additional Resources
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