Overview
Raiffeisen Bank International (RBI) is one of the leading banks in Central and Eastern Europe, recognized for its innovative banking and financial services. Operating in 24 countries, RBI’s extensive network includes numerous network banks and nearly 50 non-banking regional entities. The bank offers a comprehensive range of services catering to a diverse clientele, including corporate, retail, investment, premium, and private banking. With a workforce of 45,000 employees and a market capitalization of €5.6 billion, RBI is committed to driving value and excellence across its expansive operational footprint.
The Challenge
Raiffeisen Bank International’s (RBI) central procurement system is a complex network with over 140 external and internal suppliers from 14 markets. The bank’s vast geographical presence and extensive supplier base presented several formidable challenges that must be addressed through strategic procurement to maintain efficiency, transparency, and regulation.
- Fragmented Procurement Processes – Procurement activities were fragmented across regions and departments, resulting in inefficiencies and a lack of coordinated oversight.
- Inconsistent Data Management – The lack of a centralized data repository led to inconsistent and unreliable data, which hampered strategic decision-making.
- Regulatory Compliance – The banking industry’s strict and complex regulatory environment necessitates meticulous compliance tracking, reporting, and documentation.
- Lack of Transparency – Obtaining a comprehensive view of procurement activities and supplier performance proved difficult without a unified system.
- Stakeholder Collaboration – Effective collaboration among stakeholders was hindered by disparate systems and inconsistent communication channels.
- Operational Inefficiencies – Many procurement processes were fragmented and manual, resulting in operational inefficiencies and increased administrative burdens.
The Solution
To address these challenges, RBI partnered with akirolabs to implement a comprehensive digital transformation of its procurement operations. akirolabs provided a centralized digital category management platform that integrated all procurement activities, streamlined processes, and enhanced stakeholder collaboration.
Key Benefits
Centralized and Digitized Procurement
- The akirolabs platform consolidated all procurement activities into a cohesive ecosystem, providing a centralized source of truth for all stakeholders.
- Real-time access to procurement data enhanced decision-making capabilities and ensured strategic alignment across the organization.
- The platform digitized the entire pre-sourcing process, allowing for seamless integration of internal, external, and demand data from various sources.
Enhanced Stakeholder Collaboration
- The akirolabs platform facilitated seamless communication and collaboration among all stakeholders involved in the procurement process.
- AI-powered tools provided actionable market intelligence and predictive analytics, enabling strategic sourcing and category management.
- The platform’s knowledge repository and strategy cockpit ensured transparent communication of category strategies, fostering a unified procurement culture.
Operational Efficiency and Cost Savings
- Streamlined procurement processes and enhanced vendor management led to cost savings and efficiency gains.
- akirolabs offered a transparent supplier communication system and a 360-degree supplier view, promoting structured and transparent interactions that improved supplier relationships, performance, and risk reduction.
Talent Development and Community Building
- RBI’s Procurement Academy, supported by akirolabs, provided continuous training and development for procurement staff.
- This initiative fostered a knowledgeable and agile procurement community, ensuring that procurement staff were well-equipped to have the product’s latest strategies and technologies.
The Impact
RBI’s partnership with akirolabs has transformed its procurement function into a strategic powerhouse and has pushed its procurement maturity to the next level. By centralizing and digitizing procurement activities, leveraging AI for strategic insights, and fostering a culture of collaboration and continuous improvement, RBI has achieved unprecedented levels of efficiency, compliance, and value creation. This transformation has positioned RBI as a leader in procurement excellence, capable of adapting to evolving market conditions and business needs.
Read more about RBI’s procurement success through technology, innovation, and community building in CPO Strategy here.
