Financial Services organization looking to transform its administration department into a world-class procurement function.
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.
Designed and implement organizational structure for administration and procurement department. Developed procurement ‘Category Management’ structure. Post-merger integration of Bank procurement activities.
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.
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.