ECONOMY

BUSINESS: 183 PRACTICES


TOPIC:

Initiative

Supplier Evaluation for the Bank and Eurobank Group

Supplier Evaluation for the Bank and Eurobank Group
SUBMITTED FROM:

Eurobank Ergasias S.A.

Eurobank is one of the four pillars of the Greek banking system. Moreover, Eurobank group is present in Bulgaria, Serbia, Cyprus, Luxembourg and London.

 

Read more: www.eurobank.gr


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Objective Action

The overview of the market and the best selection of suppliers qualitatively and quantitatively, having “green” criteria as well.

The Bank selects its suppliers, through specific rules and policies, with a sealed bid process that can be performed via electronic market, creating transparency, fair competition and accountability.

 

Target Audience

All companies that potentially cooperate with the banking industry, directly or indirectly. These companies are both Small/Medium Enterprises and also Multinationals, concerning IT or Non IT goods and services.

 

Duration

The assessment is performed at least once a year, but several ad hoc reviews are taking place in liaise  with the Group IT, to ensure that there is proper use and feedback of data. The evaluation process is being performed for more than 10 years in the Bank.


Description

The Bank and Group Vendors evaluation is being held through three main pillars:

1) Evaluation during bid evaluations/ tenders, using specific model and weights

2) Evaluation per project, where project managers evaluate the vendor during the project and also at the end,  by creating specific vendor profiles that cover full range of service offered

3) Annual vendor evaluation where the overall Vendor – Group relationship is presented to  the Management.

For all the above there is a common assessment process, applied throughout the Eurobank group, and also a unique and global evaluation platform that includes as default, green criteria as well.

The methodology applied is the same for all vendors. It has specific weights per criteria and is conducted by a number of evaluators coming from the business units involved and the Group IT regarding IT equipment supplies, who are the main recipients of goods and services supplied by the Bank.

The evaluation is conducted using specific questionnaires for IT and Non IT goods and services, that cover all ranges of relationship with each vendor, both in the fields of purchasing, contractual etc, and on issues of responsiveness, sensitivity and support at the Bank's needs, in the context of business ethics and corporate responsibility.

Apart from the evaluation pillars mentioned above, both in the Request For Proposals issued by Eurobank for conducting bid evaluations/ tenders and also in the contractual relationship with the cooperating suppliers, particular reference is made by indicating specific terms, to comply with labor legislation in order to preserve employment and insurance conditions of the working staff who offer services for the Group.

In addition, a green procurement tool is being used that depicts all the basic environmental requirements of specific goods and services for which there is a technical evaluation in the tendering process and the annual performance evaluation .

Moreover, the monitoring of the environmental legislation is a substantial component of the contractual process with the suppliers and technical partners of the Bank.

The procedures mentioned above are institutionally guaranteed by the Bank’s and the Group’s Procurement Policy, that constitutes the Code of Ethics, according to which all type of purchases are conducted.

This Framework that is covering all phases of the procurement cycle (RFP, supplier evaluations, contracts) and is institutionally protected by the Group Procurement Policy, but mainly is secured on a daily basis during the execution of the services on behalf of the suppliers, is indeed the cooperation framework with the suppliers aiming at the improvement of the global business relationship  and the maximization of the benefit at the favour of the Group, not only at a cost level, but also at the quality of goods and services, under the greater goal of definition and contribution to new better conditions in the whole market.


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Impact on Society

The result is a final grade for each vendor, quantitatively and qualitatively, either annually or ad hoc during a year, and the contribution of this knowledge to the development or diversification of the Banks relationship with vendors, aimed at more effective cooperation and maximization of the  benefits for both Eurobank and the market where  it operates.

In particular, through this procedure, the following are ensured:

  • Meritocracy in the choice of vendors-partners through objective criteria
  • Transparency of selection and evaluation procedures
  • Promotion of cooperation for mutual benefits
  • Improvement of supplied products and services


Initiative Location

There is no specific place of implementation for the supplier evaluation. Companies can be either Greek or foreign companies, with or without a representation in the Greek market.


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Working with Organization

The Bank is using its own systems for the evaluation and presentation of performance results without any contribution of a third party solution.


Workers Participation

Participation of selected evaluators from the Bank Units. These evaluators are set by the Procurement, Group IT and all Units involved, as recipients of the services they are called upon to assess. This is an objective process with a range of evaluators, able to cover the whole financial relationship with each vendor.


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Benefits for Οrganization

In general, the benefits coming through the vendor assessment procedure are the following:

  1. Cost saving
  2. Quality of the goods and services
  3. Creation of a relationship that is based on a mutual benefit
  4. Creation of new market standards aiming to improve all solutions and selections offered.
  5. Effectiveness in time to procure
  6.  Ensuring transparency and meritocracy in the vendor selection process
  7. Audit on the premises of our suppliers and secure that they follow properly the whole set of labour legislation according to the Greek Laws.
  8. Green procurement advancement



Connection with Global Goals



No Connection with Global Goals found





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