Financial Services Vendor Risk Management [PRO]

Spend Matters knows Hiperos primarily as a supplier performance management (SPM) provider, but at BB&T, Hiperos is used not only for SPM but in a more broad and comprehensive vendor master data management (MDM) use case in the sense that their solution is the source of truth for all vendor data at BBT. SAP is being rolled out broadly on the backend, and SAP’s A/P module pulls from Hiperos as the trusted vendor file reference data. To provide full visibility into supplier activities, BB&T has also moved all contracts from Ariba into Hiperos – which wasn’t easy, but they claim the results have been worth it.

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