Case Study: Luno cuts low-risk procurement from 30 days to 48 hours with Omnea

Luno cuts vendor screening time by 50% with Omnea

Luno, a cryptocurrency platform, faced significant challenges with its decentralized and inefficient vendor management process. Before implementing Omnea, the company relied on a fragile Jira-based system that lacked central visibility, leading to slow onboarding, poor renewal tracking, and manual audit work. The process had a reputation for being painful and required constant maintenance.

By implementing Omnea's intake and third-party risk management solutions, Luno automated its procurement workflows. The system introduced a consumer-grade intake portal and risk-adjusted processes, integrating with tools like Juro and Tipalti. As a result, Omnea helped Luno cut low-risk procurement from 30 days to 48 hours, reduce vendor screening time by over 50%, and successfully migrate over 500 vendors to the new platform.

Luno