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Shared Services Implementation

CLIENT:
Major Insurance Group

SECTORS:
Financial Services

LINES OF BUSINESS:
Innovation & Transformation

CLIENT FOOTPRINT:
South Africa

THE CLIENT CHALLENGE:

The client was seeking cost synergies and saw potential in procurement because it wasn’t a centralised function, spend data hadn’t been captured and analysed, and there were no category strategies.  This indicated a tremendous opportunity to concentrate volumes and leverage the collective buying power of the group to achieve best prices

HOW WE ASSISTED:

Performed a diagnostic to identify improvements to current procurement capabilities and to estimate the potential savings opportunity. Developed sourcing strategies for the Facilities Management, Travel, HR, Professional Services and Marketing spend categories along with targets and implementation plans. Created a highly capable sourcing shared service with inclusive, business-led governance

RESULTS DELIVERED:

The ‘wave one’ initiatives, which were consulting-led, exceeded all financial targets and brought about a material reduction in the cost base. The new sourcing organisation was the first shared service to be successfully implemented in the group and sustained the initial successes by delivering against the ‘wave two’ targets