Lee's Summit, MO Ñ September 9, 2002 Ñ BMO Financial Group has used a solution from provider eScout to launch a Web service-enabled transaction management tool to assist with supplier enablement and document routing services in a bid to reduce transaction costs and improve efficiencies.
BMO Financial Group is one of the largest financial services providers in North America, with average assets of $243 billion and more than 33,000 employees.
The company is using eScout's ConnectScout solution to connect its Oracle internal purchasing system, based on an enterprise resource planning (ERP) solution, to multiple suppliers.
"BMO has thousands of trading partners and our purchasing solution had to accommodate our breadth of suppliers," said Marnie Kinsley, executive vice-president for e-business at BMO. "Through ConnectScout, we are able to communicate more efficiently with our suppliers for the electronic delivery of purchase orders and receipt of invoices."
Kinsley added that the eScout solution offers BMO's employees a single point of integration to maximize the company's supplier relationships and leverage strategic sourcing opportunities.
Andrew Mies, senior vice president for business development, sales and marketing at eScout, said, "Integration with eScout will help BMO Financial Group make the most of its software investment by creating a system that will lower BMO's costs and provide deeper integration with their trading partners."
Mies added that ConnectScout has now connected three leading providers of enterprise applications Ñ SAP, PeopleSoft and Oracle Ñ into eScout's supplier integration hub. "Our solutions complement these providers' offerings, improving the ROI for companies that have made investments in behind-the-firewall procurement applications by decreasing the time-to-market, increasing the breadth of suppliers with whom they can trade and lowering ongoing maintenance costs."
