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
BUSINESS: 183 PRACTICES
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.
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.
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.
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.
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:
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.
The Bank is using its own systems for the evaluation and presentation of performance results without any contribution of a third party solution.
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.
In general, the benefits coming through the vendor assessment procedure are the following:
No Connection with Global Goals found