Faced with the constant need to i) tackle increasing risks of procurement fraud; ii) reduce mounting employee toil; and iii) strengthen governance, DBS Group Procurement & Services (GPS) harnessed our growing volume of transaction data to Build Our Own Surveillance Tool (BOOST). Embracing DBS’ Digital and Sustainability strategic agendas, DBS GPS embarked on self-learning and adopted DBS’ 4As (Ask, Acquire, Analyze & Act) Data Management Framework to develop our in-house DBS Buying SMARTtransaction surveillance capability which ingests data, analyses anomalies and triggers notifications for remediation. With BOOST, we monitor 100% of e-procurement transactions using a single tool, reduced manual efforts by 81% and enhanced flagging of non-compliant behavior. BOOST empowers GPS with agility to refine our data model continuously to combat ever-evolving procurement risks!

Contributors: DBS Bank
Categories: 2019 Nominations, Future of Sourcing Awards
SRC Type: Risk Management, Sourcing Management