A newly appointed head of procurement at a large London market re-insurer was looking to build a new team from scratch and introduce procurement best practice to the company, including governance, processes and cost efficiency targets.
We were asked to help establish these new processes and bring current spending under control - particularly in relation to IT programmes.
Our senior associate began a complex programme of tactical transaction reviews, working closely with existing suppliers to negotiate better value in renewals or using excellent market relationships to select participants to tender for new work, such as the deployment of sophisticated claims management technology.
This resulted in £1.5m+ of savings across IT projects and, more importantly, have the new procurement lead momentum to embed processes and targets at all levels of the business.
Getting Up And Helping A Company Introduce Procurement Best Practice