Financial Services: Broad Strategic
Sourcing Campaign Yields $10 Million in Savings
Business Challenge
A global $2.5 billion financial services company recognized the earnings improvement
power of strategic sourcing and established aggressive savings goals. ISG was
engaged by the procurement organization to bring additional resources and expertise,
and to accelerate results.
Approach
ISG performed a Spend Analysis across all divisions and over 10 countries.
Working as a team, ISG and the procurement leadership identified opportunities
and executed strategic sourcing projects.
Results: Over $10 Million in Savings and a Client ROI over 850%
Leveraging our methodology, ISG executed multiple sourcing engagements and delivered
significant results. Average savings exceeded 30%. Beyond sourcing, ISG partnered
with procurement to perform multiple other projects.
| Completed Sourcing Projects |
| Telecommunications |
| Wireless |
| Statement Printing Renegotiation |
| Commercial Print |
| Financial Print |
| Office Equipment |
| Small Package Shipping |
| Office Supplies |
| Temp Labor |
Savings Exceeded 34%, Yielding over $10 Million
|
Other Projects
- New Travel Policy Creation: Yielded a double digit per-ticket
cost decrease
- Process Redesign: Reengineered aspects of the procure-to-pay
process
- Fulfillment Outsourcing: Performed a Make or Buy analysis for
an in-house literature fulfillment operation
- Telecom FET Recovery: Recovered over $600k in federal taxes
- Category Management Support Services: Provide an on-line Dashboard
for on-going spend management and savings tracking
- P-Card Assessment & Contract Management Software RFP
|
In addition, for three years in a row, ISG performed a Spend Analysis to
help develop the annual sourcing plan, providing an on-line Spend Dashboard
to enable enterprise spend visibility and to provide a quick start for sourcing
projects.
