Global Tier 1 Bank
The outsourcing model for our Client included the vendor management services being provided on a global scale to deliver benefits of managing the vendor spend on training across their large vendor database and put in place agreed contractual terms with vendors for their ongoing requirements.
Our Client was also looking at achieving a level of vendor rationalisation, best in class processes being developed and to establish an ongoing engagement of vendors which would result in better value for money for our Client as well as reduced costs as a result of this model.
Developed a transitioning strategy for vendors and prioritised according to our Client’s global positioning.
Adopted and developed a standard set of policies and incorporated these into the contractual agreements with vendors so that a seamless transition was possible.
All of the screening policies, IT security and other terms and conditions, including rate cards, were mirrored in each of the vendor contracts so that there was no risk or security breaches.
Constantly worked on improving the relationship with our Client and vendors so that we can provide a better value service including refining our engagement model through better use of technology and automation of the admin process.
These are some of the key successes across the number of years we have currently held the contract for:
- 219 vendors on boarded globally
- Countries engaged with - Argentina, Brazil, Canada, China, Egypt, France, Germany, Hong Kong, India, Malaysia, Mexico, Philippines, Taiwan, Turkey, UAE, UK and USA
- Additional countries currently in the process of transitioning are Switzerland, Bermuda, Channel Islands and Malta
- The vendor spend has grown to £9million per year
- A new travel policy was jointly developed to reduce costs