Supplier Registration
The Coupa Supplier Portal is a tool that connects
our suppliers to self-servicing capabilities that makes doing business with us easy and
flexible enough to fit within our suppliers’ preferences (or processes, or
expectations). Your BMO Financial Group Contact would need to submit an internal request
to setup your company’s profile to transact with BMO.
Supplier Help
If you have any questions regarding requirements,
please contact your BMO Financial Group Contact (i.e. invoice approver name or your
Relationship Manager) or email our Procurement HelpDesk Team at:
Procurement.HelpDesk@bmo.com
We require our suppliers to meet minimum
transactional requirements:
- Invoicing Method =
Electronic through Coupa Supplier Portal
- Payment Terms = 45
days from date of invoice receipt by Accounts Payable
- Payment Method =
Electronic Payment (EFT/ACH)
- Required Onboarding
documentation:
- ACH/DEFT Form
- Void check or Bank Letter Tax Documentation
- W9 will be required for all US vendors
- W8 will be required for all Suppliers outside of the
US doing business with
a US entity.
Purchase
Order Terms & Conditions
The Purchase Order (PO) Terms and Conditions
govern your transactions with BMO Financial Group and/or its Affiliates, unless a Master
Services/Product Agreement is in effect for the commodity purchased. In that event, the
terms and conditions negotiated in the Master Agreement with your company and BMO
supersede the following PO Terms and Conditions.
Supplier Resources & Governance
The Coupa Supplier Portal is a tool that connects
our suppliers to self-servicing capabilities that makes doing business with us easy and
flexible enough to fit within our suppliers’ preferences (or processes, or
expectations). Your BMO Financial Group Contact would need to submit an internal request
to setup your company’s profile to transact with BMO.
Third Party
Management
OVERVIEW
BMO’s success and reputation are built on trust
we've earned from the people we work with and the customers we serve. Our reputation is
one of our greatest assets and everyone associated with our company has a role in its
protection. We consider the impact our business decisions have on our stakeholders and
the communities where we do business and are committed to always doing the right thing.
Our commitment to ethical conduct and sustainability is the foundation of our
stakeholders' trust in us and is integral to our Purpose - Boldly Grow the Good in
business and life.
BMO’s
Supplier Code of Conduct (Supplier Code) outlines the principles we expect our
suppliers to support. BMO expects its suppliers and its subcontractors be aware of,
understand, and respect the principles of the Supplier Code.
Our standards require high integrity, fair
dealing, and responsible business practices. Any third-party who transacts with BMO is
held to a high standard of legal and regulatory scrutiny. They must comply with all
applicable laws, rules and regulations at all times.
For the purpose of this document third-party and
supplier may be referenced interchangeably.
SUPPLIER
MANAGEMENT AND ONBOARDING REQUIREMENTS
It is important for all potential third-parties
to understand that before its products/services commence with BMO, they must meet the
Banks minimum supplier requirements. These requirements include contractual obligations
which we expect our third-Parties to maintain in order to protect BMO’s systems, data
and products/services.
BMO risk assesses all products/services and
depending on the risk profile of the third-party arrangement, the third-party may be
subject to a comprehensive risk assessment and due diligence process which includes
providing evidence-based artifacts.
It is important to note that risk assessment
process can cover multiple areas of risk include, but are not limited to, policies and
procedures, privacy, cyber and technology security controls, adherence to regulatory
expectations, and financial health of the third-party.
INFORMATION
SECURITY AND AI
This section applies to any third-parties
including subcontractors that have access to, or process, store or manage any of BMO’s
confidential information and/or data; or have connectivity to BMO’s networks and/or
facilities.
Third-Parties must have updated and documented
cyber security policies and standards and the ability to evidence such controls. The
policy governance must include clearly defined roles and responsibilities and annual
policy and standard review/update for consistency with the current state of technology,
industry standards, legal, and regulatory requirements.
Third-Parties, who will host applications or have
access to BMO data are subject to BMO’s cyber security risk assessment. The assessment
consists of cyber security questionnaires conducted on a regular basis and requiring
responses from the Third-Party with supporting evidence. It may include visits to
Third-Party locations where confidential information is stored, processed, managed, or
accessed by the Third-Party.
In addition, our suppliers must inform BMO when
AI functionality (including generative AI) is being added to or changed within services
provided to the Bank (and obtain BMO’s consent before creating deliverables or
delivering services with the use of Generative AI) to allow for appropriate risk
management processes and associated controls to be applied.
SUBCONTRACTOR/OUTSOURCING
Third-Party subcontractors must be identified,
assessed, managed, and monitored in accordance with the terms of the agreement /
contract with BMO, including compliance with BMO’s Supplier Code of Conduct. BMO will
require audit rights in order to obtain appropriate information about the controls of
subcontractors, consistent with the requirements for Third Parties with whom it
contracts.
ONE CLIENT PROGRAM
BMO wants the opportunity to be considered for
business banking with organizations that BMO leverages for products & services via:
- Identifying and tracking business opportunities to onboard new
suppliers as customers
- Including B2B contract language where appropriate
- Opining on any changes to standard B2B contract language
- Providing lead opportunities for the Commercial and Retail
Banking community
If you are a third-party who
transacts with BMO,
you may be contacted by our One Client team to identify business banking opportunities.
If you have questions about this program, please reach out to Procurement.SRM@bmo.com
