For this financial services firm, taking a second look at contracts with multiple vendors saves money and improves control.
Opportunity
A large Canadian financial institution managed a high volume of printing through agreements with several vendors and ran many contact centers from Canada to South America. The client’s Category Management group wanted to assess the total lifecycle costs, existing processes and delivery platforms.
Imagining IT Differently
ISG initiated two work streams. For print, ISG reviewed contracts, buying relationships and underlying processes. We then made recommendations that delivered the same quality the firm had come to expect with improved control and more than 35 percent lower cost. For the contact centers, ISG assessed current operations and future strategies and provided order-of-magnitude opportunity sizing for several alternative delivery models.
Future Made Possible
- Potential savings of more than $100 million out of a budget of approximately $600 million
- Improved pricing and terms of contracts at renegotiation
- Better identification, selection, negotiation and management of vendors
- Significant process efficiencies throughout the source-to-pay cycle
- Identification of further gains that might be achieved through off-shore outsourced delivery
