Financial Services

Gulf
Project Background

Financial Services organization looking to transform its administration department into a world-class procurement function.

Methodology

Our approach was to assign an on-site experienced Head of Procurement with many years’ experience of successfully delivering procurement projects, over a period of 3 years. The highly skilled, knowledgeable and experienced procurement leader oversaw the day-to-day operational management of the clients procurement function.

Structure

Designed and implement organizational structure for administration and procurement department. Developed procurement ‘Category Management’ structure. Post-merger integration of Bank procurement activities.

Process

Established procurement governance including policy, procedures and procurement committee. Centralized all procurement activities in alignment with Executive Committee’s policy mandate. Implemented ‘No PO, No Pay’ policy. Segregated procurement and operational activities and established management reporting. Implemented ‘Best Practice’ procurement processes and drove compliance.

Tools

Leveraged electronic sourcing tool to reduce cost and increase transparency of sourcing activity. Re-engineered procure to pay process; improved P2P cycle times and increased compliance.

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