"Bank of Montreal is re-engineering the methodologies it uses to purchase the (Cdn)$1.9 billion of goods and services it buys each year," says Karen Rubin, vice president, Strategic Sourcing, at Bank of Montreal. "We chose Oracle.com because we didn't need to customize the software. As a result, we're able to take advantage of normal upgrades and lower our ongoing maintenance costs. And, by choosing an online procurement service, Bank of Montreal is able to concentrate on value-added procurement tasks instead of IT infrastructure."

Bank of Montreal is a highly diversified financial services institution that operates more than 30 lines of business within its group of companies, including BMO Nesbitt Burns, one of Canada's largest full-service investment firms, and Chicago-based Harris Bank, a major U.S. mid-west financial services provider.

"Oracle's online services enable our customers, like Bank of Montreal, to maximize the power of software, increase productivity and lower their costs," said Bill Bergen, president of Oracle Corporation Canada Inc. "With Oracle, Bank of Montreal procurement professionals will have more information to support activities like procurement analysis and supplier relationship management."

Through Oracle.com, Bank of Montreal is able to match its variable cost with its user base. This, in turn, allows the bank to grow the service at a pace that suits both its purchasing and budget needs. Rubin says that Oracle's demonstrated commitment to being in the software-as-a-service business is an integral part of the success of Bank of Montreal's i-procurement initiative.

In addition to Oracle( iProcurement, Bank of Montreal has implemented Oracle Internet Expenses, Oracle Accounts Payable and Oracle Fixed Assets. Already, the bank is realizing the benefits of Oracle.com's service model. For example, Oracle iProcurement allows Bank of Montreal to standardize purchase processes and eliminate unnecessary approvals or redundant transfers. The solution eliminates inefficient manual processes and, in turn, reduces the length of the purchasing cycle. Oracle iProcurement uses workflow technology and self-service applications to deliver automated transaction processing to the desktops of the bank's employees. Using a standard browser, these employees have access to catalogues from which to procure items quickly, efficiently and within the bank's established business rules and pricing policies.

Oracle Self-Service Purchasing, the next generation of self-service requisitioning capabilities, provides an intuitive, Web-shopping experience for Bank of Montreal users and streamlines the bank's order-placement processes.

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