UK specialist lender and savings bank
- industry banking
- location united kingdom
Recommendation for a new procurement policy and target operating model.
A UK challenger bank focused on savings and lending for SMEs, homeowners, landlords and individuals.
Aldermore has grown rapidly and recognised the need to understand their expenditure profile, provide clear management information on the supply base and to transform procurement. We were initially engaged to provide visibility of their spend which led to us reviewing their procurement function and providing options on the new operating model, including outsourcing.
- developed spend as service to understand Aldermore’s 3rd party expenditure
- conducted a 10 week diagnostic to understand the ‘as-is’ position and propose a new operating model and developed a new policy, processes and procedures
- provided team resources into the bank’s procurement function to accelerate material contract remediation
- develop a training & development plan for the function and an option to outsource.
value delivered
- a new service to provide real-time data on their supply base
- recommendation of target operating model along with a new procurement policy, 5 key procedures and over 300 process steps, all incorporating business feedback
- accelerated contract remediation and agreed longer term support for delivery of plans
