07 October 2004
Lloyds TSB is to merge its procurement-to-pay services for the public sector with purchasing consultancy Best Value Procurement (BVP).
BVP and Lloyds have collaborated since 2001 to supply solutions to local authorities.
The merger aims to capture private-sector contracts, according to Margot O'Reilly, who heads the new unit for Lloyds.
The largest joint Lloyds-BVP projects have involved managing four regional e-marketplaces covering 35 authorities in London, Suffolk, the Midlands, and the north and east of England.
BVP specialises in e-procurement consultancy, including provison of a hosted service based on Oracle and Tradex software.
Its consultancy work includes strategic sourcing, managing online catalogues, purchase-to-payment processes and the analysis of spend information.
There will be no redundancies or relocations on either side.