Business Challenge: Need for improved understanding of supply market and procurement practices for integrated facilities management category
A leading player in the financial services sector wanted to gain detailed understanding of the supply market landscape and procurement best practices specific integrated facilities management category.
Situation: The client wanted to gain thorough understanding of the supply market and assess all critical procurement strategies
The client wanted to gain an understanding of the strategies adopted by top financial services buyers engaging with integrated facility management service providers. They were also keen on understanding the best cost-saving opportunities, market trends, demand and supply that could optimize buying and negotiating in the category.
Approach: Conducted detailed market assessment and explored various benchmarks for overall process improvement
We conducted an analysis of the market size, growth, trends drivers and challenges and their impact on the supply chain, explored the service offerings of the suppliers and their capability to cater to the needs of financial services clients. We also did an analysis of the experience of suppliers with financial services companies, followed by analysis of typical buying requirements for procurement managers in charge of the category. We consolidated all learning from these assessments and also provided recommendations on best practices and potential suppliers they could engage.
Impact: Client leveraged the understanding of supply market and implemented strategies for improved performance
The client was able to gain a detailed understanding of the supply market and implement procurement best practices to improve the sourcing and procurement processes at an overall level. They were also able to implement best contracting practices and engage with the best of the suppliers.