Global Bank Expands Verian Purchasing Suite with Inventory Management to Drive More Savings

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Financial Leader Rolls Out Cloud-based Procurement System across its Caribbean Locations and Implements Inventory Management in Just 27 Days

Ultimately, being more strategic about spending is saving them a significant amount of money across the board.

A leading financial institution recently expanded their Verian procurement solution across their entire Caribbean operations and also implemented an inventory management module to enable a more strategic approach to spending. The expansion of Verian Purchase Manager and the addition of Verian Inventory Manager were completed in just 27 business days, demonstrating Verian’s agility and commitment to delivering rapid ROI to all customers.

This organization is one of the largest banks in the world based on market capitalization, and serves over 16 million customers. Verian will provide them with insight into purchasing activities and inventory to get more spend under management and increase savings across the company.

Verian’s Purchase Manager allows this financial institution to leverage buying power, increase visibility into third-party spend and improve productivity by standardizing, optimizing and automating the procurement process. Verian’s Inventory Manager provides visibility of stock, the ability to remotely manage inventory and alignment of inventory operations across the organization.

“Verian will provide this bank with visibility into stock across their entire Caribbean operations, preventing purchases of items they already own,” said Tehseen Ali Dahya, President and CEO of Verian. “Additionally, they will be able to leverage their data around aggregate spending to more effectively negotiate with vendors. Ultimately, being more strategic about spending is saving them a significant amount of money across the board.”

About Verian
At Verian, we work with many financial services organizations to bring complex and diversified pockets of indirect spend under management with our easy-to-use purchasing system. We automate manual and outdated purchasing and invoice approval processes and are repeatedly recognized for rapid implementation and ROI coupled with high user adoption. More information about Verian’s specialized purchase-to-pay suite for banks, credit unions, insurance companies and other financial services organizations is available by visiting the Financial Services page on Verian’s website.

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Lindsay Munn
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