Bank of Montreal

Customers / Bank of Montreal
Bank of Montreal

Digitized and Centralized Control Mitigates Risk at BMO

BMO brings complex compliance requirements in regulation, procurement, and for the Covid pandemic, under control with visibility and automation from Coupa.
Company Overview
BMO brings complex compliance requirements in regulation, procurement, and for the Covid pandemic, under control with visibility and automation from Coupa.
Headquarters
Montreal, Canada
Employees
25,000-50,000
 

Value as a Service

75%

Reduction in Risk Assessment Cycle

100%

Integrated Supplier Risk and Performance Management

Challenge

Needed accurate data for third party risk management.

Also needed data accuracy and visibility for regulatory compliance.

Good data was also necessary for CSR program and pandemic risk management.

Solution

Coupa Invoice

Coupa Spend Analysis

Coupa Supplier Management

Result

Third party risk is now visible and constantly updated in an ongoing plan.

UX makes using the system viable for even small suppliers, and increased buyer compliance.

Supplemental COVID-19 risk assessment allows quick response.

"The maturity of our risk program has allowed BMO to adapt quickly and feel confident in our ability to proactively identify and mitigate potential risk."

Pamela Schott, VP, Global Third-Party Risk Management and Supplier Performance