Completed close to 80 sourcing projects, with nearly $50MM in total contract savings. On average, we achieved 25% savings across all spend categories. As a result of the strategic sourcing projects we executed, the client now has a better understanding of the requirements for these products and/or services.
By consolidating spend and establishing longer term agreements, risk was significantly reduced and the ability to control costs was greatly enhanced.
Velocity enabled the client to fully understand their spend and helped expand the newly centralized procurement organization. In addition to the savings generated, we provided a 5-year roadmap, which included Source to Pay Technology, Organizational Design & Change Management, Policy and Process Redesign and a Procurement Toolbox for the client’s continued procurement transformation journey.