A large, Europe based, publicly owned central bank that’s been established for over 300 years. The Bank is responsible for maintaining monetary and financial stability while promoting the good of the people. To ensure its own cost effectiveness and accountability, a project was set up to promote rigorous, transparent vendor selection. As a public body, they aspire to set the best example of public service and accountability and required a process to help them choose suppliers who do likewise.

The Bank wanted to improve its vendor selection process, the catalyst for which was the selection of a strategic partner for a major upcoming IT Service Management (ITSM) project. The existing tender process was labour intensive and relied on the vendor provided details within the tenders being accurate and complete.

While due diligence is a requirement of any public body, The Bank wanted to filter vendors in a more practical and transparent way. 

Mitra worked closely with The Bank to design, build and deliver a highly innovative “hothouse” methodology for supplier selection. The hothouse provided the vendors with a secure platform on which to demonstrate, in real time, their understanding of the requirements, their technical acuity and ultimately how they would configure their product to meet the specific needs of the client. In turn the client enjoyed a live demonstration of how the vendors would approach the project and how their products and services could be tailored to fit their needs. In one hothouse session the participating teams had 5 hours to show how they would configure the “joiners and leavers” process workflow within their proposed solution, and then demonstrate this to the client.