Strategic sourcing for a global financial services organisation
Client Requirement
The client was embarking on a transformation of its procurement function, including both the internal organisation and a significant outsourced scope. They needed objective advice based on knowledge of the current state of the procurement outsourcing market, together with an experienced team to run a highly complex re-tendering process for the services.
OUR ROLE
As the client had the capability but not the available capacity to undertake this exercise we were engaged to drive the overall RFP process and to provide advice and market knowledge on procurement outsourcing. Specifically, we:
- Constructed and ran the process to conclusion
- Assessed the market and potential suppliers
- Wrote the RFP documentation
- Developed the evaluation criteria and templates
- Created the pricing templates
- Analysed the pricing responses and provided pressure points for testing
- Jointly developed with the client the revised commercial deal shape
- Drafted the pricing schedule and service credit methodology to reflect the required deal shape
Business Outcome
Through a two-stage RFP process, significant commercial pressure was applied to the existing supplier and a new deal was concluded with:
- Significant savings as compared with the original baseline
- A revised commercial model enabling the client to hold the supplier to account
- Improved services and service levels
Completion date : November 2024
