Offering savings and mortgage options to customers across the UK, Coventry Building Society manages over $49bn on behalf of 1.8 million members. As the business grew, Coventry needed to improve management of its supply chain from initial sourcing to supplier relationships and risk management. Find out how their goals were accomplished with Medius.
Background on Coventry Building Society and their set-up
Benefits of Medius Procurement
Who is Coventry Building Society?
Coventry is the UK’s third largest building society. As a financial services institution, it offers a broad range of savings and mortgage products.
What was the challenge?
Contracts were being managed manually in various locations. Operating in a tightly regulated industry, Coventry required an automated and streamlined procurement process.
How did we help?
Automating the procurement cycle eliminated manual processing of orders and invoices. With three-way matching, errors are eliminated and overhead has been reduced for the accounts team.
"Medius is now fundamental in giving the procurement team a bird's eye view of all purchasing at our fingertips. Access to this real-time data enables us to make informed business decisions moving forward and ensure our supply chain continues to offer us a quality service at best prices."
Head of Procurement
Coventry Building Society
Explore four financial hurdles facing finance professionals
Download quick facts about fraud, slow payments, siloed teams, and low job satisfaction (AND how to overcome them!) from the Medius Financial Professional Census Report.
Want a holistic view of spend?
Finance teams require data at the point of decision to spot potential risks or duplicate invoices as they occur. Download our CFOs Guide to AP Nirvana to find out how a holistic view of spend can give you answers when you need them.
Automated to autonomous AP
Examine the pressures driving AP departments to adopt automation to mitigate risk and improve efficiency and how the AP automation of today is becoming the autonomous AP of tomorrow. Download IDC report.
