SEK adopts Scanmarket to boost procurement compliance

Swedish Export Credit Corporation has selected Scanmarket by Unit4 as its procurement platform, citing efficiency and compliance needs in a regulated financial environment.

The Swedish Export Credit Corporation, known as SEK, is a state-owned company that finances Swedish exporters, their subsidiaries, and their foreign customers. The organisation said it needed stronger reporting on suppliers with specific compliance requirements and related contracts.

SEK said its previous approach to document management made it difficult to maintain a central source of information. It said the situation created potential risks and information gaps.

System Scope

SEK has implemented Scanmarket by Unit4 with a set of modules. These include eRFx, Contract Management, Spend Analytics, Supplier Management and Project Management.

Unit4 said the platform gives SEK a real-time overview of its supplier landscape. It said the system provides visibility of contract data through central storage.

Unit4 described Scanmarket as a SaaS platform. The company said it stores contract data in a central, secure, and compliant location. It said authorised members of SEK's Procurement, Legal, and Security teams can access the information.

The company said the approach streamlines collaboration across departments. It said the platform ensures critical information remains consistently available to authorised staff.

Process Changes

Unit4 said the eRFx module will cover requests for proposals. It said the Project Management module will track compliance-related tasks. The company linked these functions to internal process improvements.

Unit4 also listed spend analytics, supplier management and contract control as areas where SEK will see changes. The company said the platform simplifies sourcing and reduces costs. It said the system also ensures compliance and drives growth.

"We are committed to efficiency, transparency and accountability and by implementing Unit4 we will enhance how we manage supplier relationships," said Magnus Löfmark, Procurement Manager, SEK. "This investment will enable us to standardise procurement, strengthen compliance and accelerate our ability to manage projects efficiently."

Unit4 framed the selection as the start of a partnership focused on requirements gathering and implementation planning.

"We are pleased to be partnering with SEK," said Johan Reventberg, Chief Revenue Officer, Unit4. "Stakeholders from both organisations worked closely to understand the requirements and build a foundation of trust. This partnership approach ensures the solution is tailored to SEK's long-term strategic goals for compliance and risk management."

The companies said the project will focus on procurement processes, supplier reporting and contract data oversight within SEK's regulated operating environment.