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Delivered Over $13MM in EBITDA Improvement through Spend Consolidation

Client Profile

A $2B+ global investment firm operating in more than 20 countries.

Client’s Issue

The client sought to consolidate its spend across all of its divisions.

Our Approach

Insight Sourcing was brought on to conduct a spend analysis which led to:

• Procurement process redesign
• Multiple strategic sourcing projects
• A fulfillment operations outsourcing analysis

Categories Addressed

• Commercial Print
• Office Supplies
• Statement Printing
• Small Parcell & Express Shipping
• Telecommunications
• Travel

PROJECT RESULTS: Delivered Over $13MM in EBITDA IMPROVEMENT

Delivered Value via Strategic Sourcing, Procurement Transformation, and Spend Visibility

Client Profile

$20B+ global insurance company with over 72,000 agents domestically

Client’s Issue

The client was looking to drive value across its procurement organization through process transformation, spend visibility, strategic sourcing, and staff training.

Our Approach

Insight Sourcing was engaged to perform a 4-week assessment, including a deep dive into the client’s procure-to-pay processes and state process maps. The firm also provided a detailed P2P process mapping and leading practice metrics benchmarks. Key results included improved invoice processing, policy compliance, and interaction between sourcing, AP, and suppliers.

Categories Addressed

• Marketing & Ad Agencies
• Office Supplies
• Print
• Promotional Materials
• Cafeteria Services
• Legal Services

PROJECT RESULTS: Delivered Value via Sourcing, Procurement Transformation, and Spend Visibility

Conducted Post-M&A Procurement Synergy Capture Effort

Client Profile

$850MM financial services company with locations in five southern states

Client’s Issue

The client had recently acquired one of its largest competitors and sought help with its post-acquisition procurement integration for the combined entity.

Our Approach

Insight Sourcing was selected to assist the client with:

• Post-acquisition procurement M&A integration
• Purchase-to-pay processes and procurement organization redesign with implementation
• Travel Agency sourcing and policy development

Categories Addressed

• Advertising Agency & Media Buys
• Direct Mail
• Office Supplies
• Telecommunications
• Armored Cars
• Elevators
• Notice Printing
• Document Storage
• Small Parcel
• Integrated Facilities Management
• Legal Services

PROJECT RESULTS: Conducted Post-M&A Procurement Synergy Capture Effort

Provided Ongoing Spend Visibility and 20% Savings via Sourcing

Client Profile

$1B finanical services and bank holding company with 30+ community banking divisions across the Southeast.

Client’s Issue

The client had no visibility into its spend and therefore had no way to identify sourcing and compliance opportunities.

Our Approach

The client engaged Insight Sourcing to drive procurement value across its many banks and divisions in the following ways:

• Strategic sourcing-related cost reduction across multiple categories
• Ongoing spend visibility with SpendHQ
• Office supplies cost reduction and category management through the consortium program

Categories Addressed

• Commercial Print & Stationary
• Promotional Items
• Office Supplies
• Telecommunications

PROJECT RESULTS: Provided Spend Visibility and ACHIEVED 20% Savings

Drove Over $4MM in Savings in Select Spend Areas

Client Profile

$1B provider of full-service banking, including FDIC-insured deposits, consumer and business banking, commercial real estate and residential construction loans to customers in the Northwest United States.

Client’s Issue

The client needed help understanding the value of developing internal needs analysis, creating competition, and negotiation among many vendors in a spend category.

Our Approach

The client engaged Insight Sourcing to conduct a spend analysis and identify strategic sourcing opportunities in select spend areas. Additionally, the client generates on-going savings by participating in the firm’s Office Supplies Consortium.

Categories Addressed

• ATM Equipment
• Ad Agencies
• Checks
• Exterior Signage & ATM Surrounds
• IT Hardware & Software
• Office Supplies
• Telecommunications
• Online Banking

PROJECT RESULTS: Drove Over $4MM in Savings THROUGH SPEND ANALYSIS AND SOURCING

$2.4 Million EBITDA Improvement for Global Manufacturing Company

Client Profile

Leading designer and manufacturer of equipment for the foodservice industry

Client’s Issue

Experiencing heavy growth by acquisition, the client engaged Insight Sourcing Group to lead a 5-month cost optimization project across nine independently operating subsidiaries. This project targeted $22 million in annual expenditures in key direct and indirect spend categories.

Our Approach

Insight Sourcing conducted a rapid assessment of both indirect and direct categories and began a 5-month strategic sourcing campaign that generated $2.4 million in annual EBITDA improvement.

Categories Addressed

• Office Supplies
• Motors
• Small Parcel Shipping
• LTL Freight
• Metals

PROJECT RESULTS: ACHIEVED $2.4 MM IN EBITDA IMPROVEMENT

Optimized Costs and Achieved Significant Savings in Four Major Categories

Client Profile

$100MM designer and manufacturer of home textiles

Client’s Issue

The client’s finance team was tasked with optimizing costs but lacked a centralized, strategic procurement function to identify and achieve savings.

Our Approach

Insight Sourcing was engaged to accelerate savings in four identified categories. In particular, the firm resolved perceived constraint in packaging that constantly changing artwork limited sourcing opportunity by developing a creative pricing matrix to allow suppliers to provide consistent pricing.

Categories Addressed

• Truckload
• Corrugated
• Ocean Freight
• Packaging (Poly Bags)

PROJECT RESULTS: Optimized Costs and Achieved Significant Savings

Procurement Organization Transformation & Spend Visibility for Manufacturer

Client Profile

$35B global technology company offering products to optimize energy and operational efficiencies

Client’s Issue

As part of a global business improvement initiative across all of its business units, the client needed to rapidly advance its sourcing and procurement competencies, significantly improve internal controls, and drive process efficiencies in order to enhance its overall financial performance.

Our Approach

Insight Sourcing performed a deep dive into the client’s current state procurement environment by assessing a range of key processes and activities in order to identify the process gaps, risks, and suboptimizations present in the current environment. ISG performed interviews with more than 75 stakeholders both inside and outside of Procurement to gain a full understanding of the current state procurement processes, including all process interactions between the Procurement team and other departments within the business.

Outputs of the assessment included detailed current state process maps (including maps demonstrating variations in different team members’ performance of the “same” process), a detailed gap analysis of the current environment against best practices, and specific recommendations for critical processes to redesign and enhance.

Categories Addressed

• Strategic Sourcing
• Supplier Risk Management
• Order Placement
• Supplier Qualification
• Due Diligence
• Master Data Management
• Invoice Processing

PROJECT RESULTS: Complete overhaul & transformation of Procurement Organization

Achieved 17% Savings and Significant EBITDA Improvement through Sourcing

Client Profile

Two companies with common investors that are both $1B leading manufacturers

Client’s Issue

Operating as separate entities under common ownership, the clients both needed to optimize costs and improve EBITDA. Similar spend profiles offered the opportunity to realize savings and other synergies in a number of categories.

Our Approach

Spend profiles and geographic footprints from each company were compared to identify opportunities for savings or other synergies through strategies such as price harmonization, spend aggregation, co-sourcing, and consortia.

Categories Addressed

• Inbound Truckload
• Office Supplies
• Pallets
• Corrugated
• Fasteners
• MRO
• Sewing Supplies

PROJECT RESULTS: Achieved 17% Savings & significant ebitda improvement