Case Study: Hellenic Bank achieves centralized, digitalized and compliant indirect procurement with GEP SMART (GEP)

How Hellenic Bank Transformed Its Indirect Procurement Operations With GEP Software

Hellenic Bank, a leading Cypriot financial institution, set out to digitalize and optimize its indirect procurement while navigating strict ECB-driven compliance and complex third‑party risk requirements. The bank faced fragmented, manual offline processes, long cycle times, limited visibility, and maverick spend that kept procurement in a tactical role rather than a strategic one.

Hellenic Bank partnered with GEP to design a new procurement operating model and deploy GEP SMART (source‑to‑contract in phase 1, procure‑to‑pay underway) with customized risk assessments, integrations, targeted training and quick reference guides. The transformation centralized and standardized upstream procurement, onboarded ~400 suppliers to the platform, improved process visibility and controls, and is already reducing cycle times and enabling cost savings, stronger supplier partnerships and strategic procurement insights.

Hellenic Bank

Christos P. Christou

Manager