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This is the headline of - the heart Procurement the feature of every organisation
DIGITAL REPORT 2021
DIGITAL REPORT 2022
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PROCUREMENT - THE HEART OF EVERY ORGANISATION
IKANO BANK
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IKANO BANK
Åsa Stoije, Head of Sourcing and Procurement, Ikano Bank, discusses the value effective procurement can provide, and the need for strategic partners
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wned by the Kamprad family, Ikano Bank can be traced back to the home furnishing company, IKEA (founded in 1943). Ikano Bank founded in 1995 creates possibilities for better living by offering simple, fair and affordable services, enabling a healthy economy for the many people. Ikano Bank’s offer includes savings and loan products for consumers, sales support services for retailers, and leasing and factoring solutions for businesses. Åsa Stoije, Head of Sourcing and Procurement at Ikano Bank spoke of the company’s business idea: “We create possibilities for better living by offering simple, fair and affordable services, enabling a healthy economy for the many people..” Ikano Bank’s offerings consist of credit cards, loans, mortgages, sales financing, factoring, and leasing. “We have roughly 1,100 employees in eight European markets, including the Nordics, Germany, UK, Poland and Austria,” says Stoije. She adds: “But what is interesting right now and for the coming years is that we are in the middle of a transformation - building a completely new digital bank alongside our existing operations.” Sourcing and procurement at Ikano Bank Having 20 years’ experience in international and progressive functions, Stoije’s focus has been on sourcing and procurement at all levels. ikano.bank
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IKANO BANK
Ikano Bank: Procurement the heart of every organisation
She says: “I joined Ikano Bank in 2019, as Head of Sourcing and Procurement. It’s very exciting to be a part of the sourcing function. We are a central support function that helps the wider organisation to make the right strategic decisions and investments.” Stoije and her team is responsible for indirect purchasing of materials and services
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- essentially everything the bank needs to ensure a smooth running of the business. Such as external resources, consultants, R&D projects, outsourcing, hardware, software licenses. “Or it can be hosted services and software-as-a-service (SaaS),” she says. “It’s quite a broad area. We are also in charge of negotiating the best deals for the company, while continuing to meet company standards and industry regulations as well as client and public expectations.” Sourcing is a wellintegrated function in Ikano Bank’s operations, and as such, Stoije e says it’s vital that sourcing processes are both followed and understood. “Sourcing is a multifaceted and multidimensional function with various tasks
IKANO BANK
ÅSA STOIJE
6bn SEK
TITLE: H EAD OF SOURCING AND PROCUREMENT
Business volume
INDUSTRY: BANKING LOCATION: SWEDEN
1995
Year founded
Åsa Stoije leads the company's purchasing organization, its change and transformation.
1,000+ Number of employees
Before joining Ikano Bank in Nov 2019, Stoije served as Director Global Indirect Procurement at Arjo (Getinge Group) and she has also had several global positions at Tetra Pak and Ericsson for many years.
EXECUTIVE BIO
and responsibilities. We are in the middle of everything, a support function and a service function, where we are more and more becoming an internal business partner providing advice on investments and purchasing decisions.” Stoije says that while the focus on optimisations and cost in sourcing is understandable the job is also about stakeholder management - building relationships, supplier development, risk mitigation, and responsible sourcing. “And there are a lot of new regulations to take into account,” says Stoije. “It is important for sourcing and procurement to help the wider company to be compliant to rules and audits.” She continues: “As a sourcing function we should know what we spend, where we spend, how we spend, and why we spend. It is also important to be able to show how we secure the best value for money, as well as balancing spend risk dependency and value.” The sourcing process is fundamental, she says, and runs through the entire company. “Nothing can be bought, purchased, sourced without the procurement and sourcing function being involved,” she explains.
Åsa Stoije holds an Executive MBA, International Management and Leadership programme. She has also studied economics, marketing and law, graduating at School of Economics and management at Lund University.
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Working at the heart of business transformations Capgemini, a key partner of Ikano Bank, is enabling business transformation for its global clients - working together with passion and energy Capgemini, a key partner of IKANO Bank, has enabled business transformation for more than 50 years for its global clients. “We are fortunate to work at the heart of all these major transformations, and contribute to the development of Ikano Bank,” said Sujit Karkera, Account Executive and Delivery Partner at Capgemini. Karkera is responsible for the company’s partnership with Ikano Bank and leads a global team of 250+ people from his office in Sweden. “I believe in building winning teams, being bold, and thinking out of the box.” Capgemini is a global leader in consulting, technology services and digital transformation with the focus on building technology for an inclusive and sustainable future. “Our industry has been evolving at a very fast speed especially given
the pandemic. Digital products and services are now even more relevant than ever before. We have our focus on being the top partners for cloud and data,” said Karkera. “We also focus on cybersecurity and Artificial Intelligence (AI). Our ability is to provide scale and speed with our large pool of global talent which makes us a trusted partner.”
Trusted partner of Ikano Bank Capgemini has been a key partner of Ikano Bank since 2017. “We provide technology services that drive the core banking platforms, we also partner in their New Bank transformation journey. “It has been a privilege to contribute to Ikano Bank’s vision and their journey of a New Age Digital Bank. At Capgemini we are a global team of experts with niche skills and deep domain knowledge.” “The secret to our sustained, strong partnership is the common values we share. I see many similarities, such as being bold with daring to be different, and team spirit with working together. “We are fortunate to work at the heart of all these major transformations. We will do this, as we have always done at Capgemini, with passion and energy, and all together.”
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IKANO BANK
Where can sourcing’s value be seen? Stoije says that sourcing is about multidimensional value creation: “Value can be seen from a cost perspective, from a supplier insights perspective, but also from a business growth and increased profitability perspective. Sourcing has strong knowledge in so many different areas. It is vital for an organisation to harness the function’s capabilities in these areas.” Beyond the value of cost reduction, Stoije says sourcing also looks to create value by bringing in new technologies. “It’s about how to improve the function,” she says. “How can we further use external input in our own product development so that we can continue on our journey to becoming a fully digital bank offering simple, fair, and affordable financing for the many.” ikano.bank
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Helping financial institutions build a resilient and adaptable business At TCS, we believe in creating sustainable growth for our stakeholders. Our innovative framework, digital capabilities, agile business model and ecosystem, are helping forward-looking financial institutes in their transformation journey and enabling them to stay ahead in the market.
Rabi Panigrahi, TCS’ Head of Banking, Financial Services and Insurance, Nordics values co-creative relationship with Sweden’s innovative Ikano Bank Tata Consultancy Services (TCS)’s Banking, Financial services and Insurance (BFSI) practice has been partnering with many of the world’s largest financial institutions in their business growth and transformation journeys for over 50 years. In the Nordic countries, Rabi Panigrahi leads this key segment of the business, engaging with key clients like Ikano Bank (founded by Ingvar Kamprad the founder of IKEA). TCS focuses on supporting their customers in taking a clear-sighted perspective towards digital transformation and reimagining their businesses. For this, TCS leverages comprehensive investments in products & platforms, as well as disruptive technologies like AI, cloud, cognitive computing and the like. “We bring these technologies on board, so the customer does not have to enter the innovation journey from zero,” says Panigrahi. “Ikano was a digital bank from its outset, without high-street branches, so it had little legacy burden. We have empowered it, with technology solutions to reimagine
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the digital banking experience coupled with a robust IT4IT platform to enhance Ikano Bank’s development life-cycle and speed to market. The new platform is enabling Ikano to further enhance their growth and transformation journey, with focus on broadening their customer base & customer experience by creating an ecosystem through retailers and distribution partnerships rather than depending solely on the financial segment of the business.” The vision TCS offers is very much in tune with that of its client. Åsa Stoije, Head of Sourcing and Procurement at Ikano Bank says: “TCS is an important supplier for Ikano Bank. We work in close collaboration with them as part of our strong partnership. They are a part of many development projects and integrations, and provide us with key capabilities. They fit our needs and requirements as a business, providing us with expert knowledge and helping us achieve our goals.” A statement that neatly sums up the advantage of working with the world’s leading banking consultancy.
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IKANO BANK
INSIGHT...
Ikano Bank and its partnerships Ikano Bank believes it is important to have partners that are willing to invest in the business. “Now more than ever, because we’re on our transformation journey, it is important for us to have partners with whom we can have a strong relationship,” says Åsa Stoije, Head of Sourcing and Procurement at Ikano Bank. She adds: “You can compare it to a marriage. It is important for us and our partners to have transparency and work together towards the same goals.
RISK MANAGEMENT AT IKANO BANK Risk management in any organisation should be treated with care. From a sourcing perspective, Ikano Bank has a detailed checklist of different requirements. It conducts annual reviews, follow-ups and risk assessments, and it has multilevel of approval chains and security assessments.
It’s about give and take throughout the journey, because this allows us to grow our business and to build at scale.” Given the nature of the sourcing and procurement market, it is also vital for Ikano Bank’s partners to navigate a disruptive market. “They need to be global, she says “They need to have agility, flexibility, and to provide us value for money. They must also be able to work in a multi-vendor environment, and be willing to take risks in order to get rewarded in meeting our business goals..” Stoije adds: “I think those are key foundations for a good partnership. 14
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But our partners are also experts in their field, so it’s important they challenge us. We need them and their expertise, in order to collaborate and improve our offerings.” Two such partners include Capgemini and TCS “In 2017 after a competitive tender process, we entered into a partnership with Capgemini,” she says. “As part of this partnership a large number of Ikano Bank’s IT functions were transitioned over to Capgemini. This enabled us to strengthen our IT capacity, and to further embark on
our digital transformation journey, as well as secure existing bank operations.” Stoije adds: “TCS Tata Consultancy services is another important partner for Ikano Bank. We work in close collaboration with them as part of our strong partnership. They are a part of many development projects and integrations, and provide us with key competence incl. consultants. They fit our needs and requirements as a business, providing us with expert knowledge and helping us achieve our goals.”
ikano.bank
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Hyllie Boulevard 27 215 32 Malmö Sweden T +46 (0)10 330 00 03 ikano.bank
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