ABSA triumphs at awards ceremony

25 May 2009

26 May 2009 | Jake Kanter in Johannesburg, South Africa

South African bank ABSA was victorious in two categories at the second annual IPSA awards last night.

The company secured top prize for Best Cross-Functional Teamwork Project for its wide area network deal with communications firm Telkom SA. It also clinched the biggest award in the category of Best Process Initiative for its purchasing hub, set up to support branch purchasing activity.

ABSA's chief administration officer Ian Russell (pictured) told supplymanagement.com that the awards were testament to the "hard work, dedication and professionalism" of the procurement team.

"These awards always help in terms of increasing the momentum and securing a little bit of visibility around what we do," he said. "We look forward to making sure we defend these titles next year."

Following the takeover by Barclays in mid-2005, ABSA launched its sourcing function in January 2006 with a challenge of saving R560 million (£35.8 million) in costs and helping find R1.4 billion (£89.4 million) in "synergies" from the deal by 2009 (Features, 17 July 2008).

Later this year Karen van Vuuren, former general manager, strategic supply management at infrastructure company Transnet, will become chief procurement officer for ABSA.

Other winners last night included Department for Transport and Works, Western Cape for Best People Development and supply chain technology firm Quadrem, which picked up the award for Best Public Procurement Project.


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