IBM began with an information session on campus. Three or four recent graduates now working at IBM presented, along with one of the more senior managers.
The university's career center had an online resume submission. After still having interest in me, they had me apply on the IBM website. Next, they invited me for an interview.
I interviewed with three IBMers in the same day: one had recently graduated from my university (within two years) and the other two were more senior people with almost ten years experience. The interviews were mostly behavioral (trying to assess my people skills, leadership skills, conflict management) and experiential (what I'd done in past internships). There was little to no assessment of subject matter knowledge (i.e. SAP, Oracle or other IT consulting knowledge). It seemed they didn't mind that I had no background in I.T., but rather that I had finance/business skills and experience.