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CREDIT SUISSE UNLOCKS VALUE WITH SUPPLIER CONTRACT PERFORMANCE MANAGEMENT TRANSFORMATION
The Challenge Credit Suisse operates in over 50 countries and its global business footprint is supported by a massive, geographically distributed supplier base. That supplier network provides a diverse mix of complex services that are inherently difficult to track. A global vendor management office (VMO) was created to oversee supplier contract performance management and ensure compliance with regulatory guidelines. However, Credit Suisse's IT landscape was siloed, comprising multiple point solutions. It lacked a unified view of vendor contracts, their deliverables, timelines, and performance. To remedy the situation, the bank resolved to: •
Credit Suisse, one of Europe’s oldest banking institutions, is a global financial services firm that employs over 45,000 people and currently manages assets with an aggregate value exceeding CHF 1.5B.
Over the years, the bank has come to rely on an expansive network of third-party supplier partners to outsource its IT, KPO, BPO, and facilities management requirements.
Gain 360-degree visibility into its supplier base – Supplier contracts were stored across multiple systems, and needed to be centralized.
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Automate regulatory reporting – Manual processes to collate data from multiple systems for regulatory reporting were highly cumbersome.
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Demonstrate value from strategic relationships – Limited visibility into its supplier base hindered the bank's ability to understand supplier performance and obligation compliance at a deeper level.
Credit Suisse determined to transition to a contract lifecycle management (CLM) platform to bridge its existing P2P and risk management platforms, simplify vendor management processes, and improve compliance.
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The Solution Credit Suisse chose SirionOne as the CLM platform for its VMO. The banking blue chip saw the platform as an instrumental tool in digitally transforming how supplier contracts were managed post-signature. During the first phase of implementation, the SirionLabs team migrated Tier-1 and Tier-2 supplier contracts (linked to crossdivisional suppliers or suppliers with multiple contracts within the same division) to SirionOne's centralized repository. Existing process maps were analyzed and realigned, and user access requirements, workflow configurations, taxonomies, and performance data reporting formats were finalized in collaboration with the VMO. This served as a foundation for setting up the hierarchical, access-controlled, and fully searchable contract repository on SirionOne. A key aspect of this program focused on collaboration. Both teams agreed to create an integrated ecosystem of seamlessly connected enterprise information systems.
A Single Source of Truth The resulting P2P platform was established as the single source of truth for all contracts, tightly integrated with the SirionOne platform so all new entries replicate a mirror image of the in-scope contract on SirionOne. Metadata fields already captured by the P2P platform are ported over to SirionOne and further enriched with additional fields. SirionOne's performance module is configured with automated workflows to track supplier performance against contractual obligations and service levels. Contract changes are centralized in order to create
a fully auditable change log and deliver real-time updates on obligation compliance. Further, the supplier collaboration module was configured to capture and track action items as well as issues identified during review and governance meetings. Credit Suisse identified strategic vendors to be onboarded with SirionOne and given access rights to view relevant contract and performance data, update obligation status, and even view findings and insights from governance meetings.
Moving Forward Credit Suisse sees this as the first step towards standardizing its supplier management operations. The bank now uses SirionOne among other tools to generate regulatory reports on-demand to ensure compliance—on time,every time.
THE IMPACT
200+
Vendors onboarded
7,000+ Obligations managed
12+
Systems integrated
1,300+ Contracts onboarded
3,000+
Service levels managed
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