Helping our client transform their Central Services Division and the value it provides the wider organisation through successful delivery of integrated technology and business change.
To discuss how we can help you with similar challenges please contact Mark Ellis.
The Problem
- Our client is the UK central bank whose purpose is maintaining monetary and financial stability within the UK financial system.
- Its Central Services Division, which covers core functions such as Procurement, Technology, Finance, HR and Facilities Management had set a goal to transform functional delivery by Central Services and radically improve the combined value it provided to the business.
- In order to achieve this, our client required a broad range of expert support to create its vision for Central Services, define a new operating model, build the business case for change and deliver the ‘One Bank’ transformation programme.
The Solution
- Based on our deep expertise in procurement and experience of delivering tangible transformational change, our client partnered with 4C to get specific support for the procurement function over the course of the transformation.
- 4C carried out the opportunity assessment and developed the business case for “One Bank” transformation. We also worked jointly with the Head of Procurement to define a new operating model for the function, building in a business partnering approach and ensuring procurement reported in at an appropriate level of seniority in the organisation.
- We defined, mobilised and executed the cost management programme throughout the bank.
- We led the cost optimisation activities in several categories including IT and FM, creating visualisation dashboards and developing a “Vital Signs” tool to identify and manage risks across the supply base.
- We led complex procurements within the Bank’s digital currency programme (CBDC) and managed the IT category across the bank.
- Provided a fully automated spend and supplier management capability using our proprietary 4Spend system.
- Provided advisory support to execute technology roadmap (Oracle Fusion) including harmonising and automating processes across the Bank. More broadly, we help deliver a number of high profile IT-related transformations within the overall portfolio of change.
The Impact
- We successfully completed on-time, end-to-end delivery of over £350m of procurements from needs identification, sourcing, tendering through to contract award and management.
- We delivered more than 60 tenders for IT and Non-IT related services compliant with public procurement regulations.
- Through the changes delivered, we improved “Spend on contract” from 20% to 71% and improving “Spend on PO” to over 95%.
- In recognition of its success, our joint team won the “Go Award” for digitisation of the Procurement function in 2018 and “Procurement Leadership of the Year” in 2020.
Published
July 3rd 2023