The Coventry Building Society operates in a highly regulated industry and manages over £38bn on behalf of its 18 million members. It has 89 locations throughout the UK and employs over 2000 members of staff. As the UK’s third largest building society, Coventry Building Society turned to Wax Digital’s highly secure cloud-based solution to help transform organisation-wide purchasing.
Prior to implementing web3 Source to Pay, Coventry Building Society was facing challenges around online buying and the processing of invoices, alongside time-consuming supplier onboarding processes. Trying to manage supplier contracts and improve control and visibility was also a key requirement for Coventry Building Society.
Using web3 Source to Pay, Coventry Building Society was able to:
- Eradicate all manual ordering and invoicing
- Improve supply chain intelligence
- Access real-time data enabling better informed business decisions
- Store and manage 1,500 supplier contracts centrally
- Gain a joined up of view of supplier data, relationships and activities
Find out more about Coventry Building Society’s success story in this exclusive case study.