What goes on behind the scenes of a banking environment determines how well money is managed. This requires particular attention to secure and manage retail sector funds, an industry that accounts for over £25.5bn total annual sales – 14% of employment in Ireland.
In the background of banking is the procurement function, which is necessary for the successful acquisition of technology solutions and the professional services required to successfully facilitate the digital transformation of the industry.
As one of the leading retail banks in Ireland, Permanent TSB understands the significance of procurement for the financial sector, particularly with many indirect procurement functions underway at the company. From both a business and personal banking perspective, the procurement function of the organisation goes beyond its interaction with clients and the management of funds to the operation of ATMs, cash and transit of money and talent management.
The latter is something that Rachel Dolan, Head of Procurement and Supplier Relationship Management for Permanent TSB, sees as a critical stage of procurement.