Case Study: SEB achieves IT purchasing savings and efficiency with Markit

How SEB saved an average 9% on €6.5M spend across 6,000+ product lines

SEB Baltics, a part of the leading Nordic financial services group SEB, faced challenges in reducing the total cost and time spent on its IT purchasing processes while seeking greater spend visibility. The company partnered with vendor Markit Holding AS to implement its online IT purchasing solution, aiming to centralize procurement and gain better insights into spending patterns.

Markit's solution provided SEB with a highly configurable platform featuring a customized catalogue of over 500,000 items, an open margin policy, and detailed savings reports. This partnership over 15 years resulted in an average of 9% savings on product prices, with the majority of orders delivered within 1-2 days and a streamlined, automated workflow that significantly reduced the time employees spent on procurement tasks.

SEB

Māris Modriņš

Head of Baltic IT Procurement