SUCCESS STORY
Unlocked sustainable savings
Financial Services:
Enabling Strategic Procurement
Creating a centralised, strategic procurement function fit for global growth
Outcomes
cost savings delivered
55% mobile savings and 5–20% IT savings delivered through improved contracting, demand control, and managed services optimisation
£1M+ savings pipeline
New IT and technology savings opportunities identified through structured category management
travel cost reduction
10%+ travel savings achieved through competitive tendering and policy refresh
stronger governance and control
Clear roles, policies, and cross-functional alignment to support sustainable savings
BACKGROUND
A fast-growing global specialist insurance and reinsurance business had expanded rapidly through acquisition, resulting in fragmented third-party spend and limited visibility.
The organisation recognised the need to centralise procurement, strengthen controls, and build a strategic function capable of supporting long-term growth while delivering immediate cost savings. 4C was engaged to lead the transformation and lay the foundations for a more mature, value-driven procurement model.
the challenge
Rapid expansion had left the business with limited visibility of global spend and inconsistent procurement practices across regions. Engagement with procurement was often late or ad hoc, reducing the function’s ability to influence commercial outcomes. Over-reliance on tactical sourcing meant opportunities in major spend categories—particularly IT and travel—were not fully realised. Leadership required a cohesive operating model, improved governance, and a clear plan to embed strategic procurement across the business.
SOLUTION
4C partnered with senior stakeholders to redesign procurement’s role, strengthen governance, and deliver targeted cost optimisation across major spend areas:
- Conducted a full spend diagnostic and operating model review to identify visibility gaps and value opportunities
- Prioritised a £26M IT spend base, launching initiatives including managed services and telecoms review, BYOD optimisation, software/licensing rationalisation, and hardware procurement improvements
- Built a stronger IT–Procurement partnership, enabling a structured opportunity pipeline and improved SRM
- Transformed the £11M global travel programme through competitive tendering, policy refresh, and strict demand management
- Reviewed procurement processes and enabling technology to support long-term efficiency
- Introduced procurement governance, clear policies and RACI frameworks, and capability uplift across teams