This week, the Brooklyn team had the pleasure of visiting Copenhagen to spend a few days with our esteemed customer, Danske Bank. We were hosted by the wonderful Lone Arnholtz and Lars Skopek Hansen, part of their vendor management team. Accompanying us were our alliance partners from PwC, including Dan Cameron, Claire Smith and Aarika Au, to discuss the future of Vendor Management and its transformation through Automation and AI.
Our packed agenda kicked off at 9 AM with a keynote on Digital Transformation by Lone from Danske Bank. She highlighted the priorities for Danske Bank and how they are tackling challenges in their Vendor Management function through digital transformation year after year.
Lars followed with a presentation on the bank’s digital journey, illustrating how they have evolved from their initial contract management system in 2004 to a robust, well-managed IT supplier framework across multiple countries. Lars highlighted the components to achieving world class vendor management, from having the right employees, understanding the discipline, to implementing a cross-functional VMO tool to digitalise the process.
A fireside chat on ESG (environmental, social, and governance) issues featured Lone and Caroline Christensen-Glyager, ex-employee at Gorrissen Federspiel, now with Alm Brand as their legal counsel. Caroline shared insights on establishing an ESG framework and managing the nuances and challenges of implementing such policies with suppliers.
Claire Smith and Dan Cameron from PwC UK presented findings from the Digital Procurement Survey, noting the rising prominence of AI in transforming procurement functions over the past two years. Nick Francis, CTMO at Brooklyn, then shared his journey with generative AI, discussing how AI can unlock new efficiencies and capabilities in vendor management.
After lunch, the session delved deeper into the challenges and opportunities of AI-enabled platforms, illustrating how Brooklyn Solutions is integrating AI to support our customers in overcoming enterprise challenges. Following this, Aarika Au and Claire Smith of PwC UK presented on managing contract obligations effectively, maximising the value of contract through organised processes.
A panel discussion featuring Natascha Bernstorff Knudsen, Charlie Hicklin, and Casper Pedersen Brandt from Danske Bank. They shared insights on how Vendor Management teams can better engage with internal stakeholders to achieve success including Data, TPRM, and procurement.
The day wrapped up with a presentation on monitoring vendors and performance management by Simona from Danske Bank and Colin Woodford, COO at Brooklyn Solutions. They discussed the growing importance of resilient supply chains and the use of analytics to enhance vendor management.
The key message from the event is clear: It’s not about how advanced your Vendor Management processes are or the extent of your AI and automation. The crucial step is to start. Begin by understanding the data you have and what it means for your Vendor Management processes, then build on it collaboratively. By taking that initial step, you set the stage for continuous improvement, ensuring better results and capabilities year after year. Remember, leveraging your existing data doesn’t have to be costly, but it’s essential for creating a well-managed, high-performing vendor function.
Overall, it was a highly engaging and well-attended event, with over 80 participants. The enthusiasm and participation of attendees throughout the day were a testament to the relevance and quality of the content.
We are excited by the prospect of making this a regular event in Copenhagen, fostering a collaborative community dedicated to advancing Vendor Management practices. We look forward to future gatherings, potentially with new topics and participants, continuing to invest in and give back to the business community in Copenhagen.
