29 November 2007 | Paul Snell
Lloyds TSB is to "tweak" its procurement function, with an increase in staff likely.
Speaking at the CIPS Financial Services Purchasing Forum in London this month, Mark Swyny, service and systems director in group procurement at the bank, told delegates: "We will be growing in terms of people. We will have more people than 2007, we certainly won't have less. The business understands our importance and that we can invest in this."
He also said the bank had set a target of putting £1 billion of spend through its new e-procurement system by the end of 2008, compared with £100 million currently.
Its "shop@i-need" system was introduced at the end of March to improve compliance and simplify controls (News, 7 June
"It's a major step change in the way Lloyds TSB deals with external suppliers," said Swyny. "It might be a challenge, but if I hit £950 million, I will consider it a success."
He added: "The group executive committee are all talking about procurement. They understand the value we add to the business."