How BNY Mellon is Building a Value-driven Procurement Organization

As the threat of recession looms, most enterprises are reviewing all levers to maintain profitability and refine processes for resiliency in the future. All business functions are being asked to look at ways to improve efficiency, drive down cost, plug leakages and improve value. With companies, on average, spending over 44% of the revenue as third party spend for buying goods and services, the procurement function needs to be at the center of every enterprise’s resiliency and profitability strategy.

BNY Mellon proactively started building a value-driven procurement organization in 2019. Under the leadership of its CPO, Joseph Martinez, BNY Mellon implemented a holistic procurement model encompassing strategy, organization structure, and Source-to-Pay processes with contract lifecycle management and vendor governance as central and key pillars. Watch this webinar to discover how BNY Mellon’s proactive effort in transforming its procurement organization is helping the bank deal with the current economic situation with confidence. The webinar features Joseph Martinez, CPO, BNY Mellon alongside Tim Cummins, President, IACCM and Ajay Agrawal, Founder and Chairman, SirionLabs.