It is a challenging time for banks around the world. Regulation and competition are increasing and clients are more informed than ever before. The mortgage business units for most banks are seeing large declines in their business. Most of the growth for banks in the recent past has come from acquisitions. The insurance industry is also fiercely competitive. A range of no–frills players, online services and an increasingly sophisticated customer is threatening the existing relationships between a full service insurance broker and the consumer. As a result, margins for banks and insurance companies are under tremendous pressure. These segments of the financial services industry have responded to these new realities by creating a sharp focus on keeping their operating costs low. Streamlined corporate spend is a key element of that strategy.
Ketera provides financial services companies with the applications and services needed to control and reduce corporate spending at a low cost of ownership. Its on demand suite includes applications for spend analysis, sourcing, contract management, e–procurement, and payment & reconciliation. The combination of these hosted applications along with services such as implementation, supplier enablement and system administration has allowed leading organizations such as American Express, Columbia Credit Union, GMAC Commercial Mortgage Corporation and Russell Investment Group to streamline their corporate spend and reduce their overall costs. |
