FINANCIAL SERVICES | CUSTOMER STORY

A trustworthy, global view of spending drives procurement savings

Societe Generale unified data from 100+ sources and reduces manual data prep by 90%

For over 150 years, Societe Generale has been a leading European financial group, empowering individuals and institutions worldwide. With three core businesses – French Retail Banking, International Retail Banking & Financial Services, and Global Banking & Investor Solutions – Societe Generale offers a comprehensive suite of financial products and services. As a trusted partner, it operates in 67 countries, serving more than 25 million clients.
Challenges

Societe Generale’s legacy, rules-based spend analytics solution struggled to keep pace as their business and spend data grew. Not only did the solution fail to deliver a reliable, integrated view of spend , but it was also difficult and costly to use and maintain, slowing down time-to-insight.

Outcomes

In partnership with Tamr, Societe Generale reduced manual data preparation by 90%, added new data sources in just five days, and increased analytic adoption and trust with 80%+ accuracy of classification.

Anticipating change and promoting innovative solutions is a primary goal of Societe Generale’s sourcing group. However, their outdated technology was difficult to support and scale. The bank lacked a complete view of spend, with less than 25% of their sources integrated into their legacy system. Adding new sources was costly, time-consuming, and error-prone, but failing to do so slowed down decision making. Further complicating matters, their rules-based approach to spend classification caused differences in spend figures between the company and their supplies. The company decided to make a change, with an executive mandate requiring the firm to deploy the solution in under three months with 30+ core sources integrated at the time of go-live.

I’ve been impressed by not only the caliber of the human-guided machine learning that rapidly scaled our analytical operations, but also by the professionalism and expertise of the field engineering teams of Tamr.

Jean-Baptiste Anne
Former Head of Sourcing
Methods and Information Systems

A Unified, Global View of Spend

In partnership with Tamr, Societe Generale delivered a unified view of global spend and suppliers which drove better, more strategic sourcing decisions. The firm also saw a significant increase in the adoption of analytics and trust with 80%+ accuracy of classification. 

Tamr’s AI/ML mastering capabilities reduced manual data prep by 90%, allowing IT staff to focus on higher-value projects. Further, Tamr’s advanced AI/ML mastering capabilities learn from the reclassification of items, capturing category manager expertise to ensure the data is right. 

Procurement that Keeps Pace with Business Change

Using Tamr, Societe Generale is able to keep pace as the business changes. The team can onboard a new source in just 5 days, not weeks or months, making it easier to keep spend data accurate and up-to-date. And with a 360° view of suppliers and spend categories, groups across the business can confidently  make strategic decisions and influence activities such as supplier negotiations. In just three months, the team generated accurate views of the company’s spend across 300+ user groups, resulting in a decrease in procurement spend.