With over 50% of many companies’ outgoings allocated to procurement, optimising this area of the business is critical to controlling the cost base in any industry. As most businesses’ reliance on effective procurement continues to increase, taking a data-driven approach to its management can deliver accelerated improvements in margins and provide considerable savings across the company.
At Vendigital, we have a proven history in successful procurement management, having completed an extensive range of major procurement projects for key brands across multiple industries. With a specialist team, who have significant experience of leading procurement operations at the coal face, we are dedicated to ensuring successful, long-term outcomes for clients. We work closely within our clients’ teams to implement our recommendations and put in place practical measures that accelerate cost transformation. In addition, we help clients sustain the benefits though structured handovers and coaching to upskill in-house teams and embedded technology solutions to enable ongoing cost savings to be achieved.
Combining our multi-disciplinary consulting expertise with our digital platform, we convert businesses’ unstructured data into actionable intelligence and identify opportunities to transform our clients’ cost bases – including through managing price volatility, payment term management and 3rd party cost optimisation.
Optimising a business’s procurement process will deliver significant benefits, including:
The true cost of an item or service involves more than its price at purchase. There are further direct and indirect outgoings that accumulate throughout its lifecycle. Using data-driven insights, our procurement consultants can uncover every one of these costs to formulate a value-focused future strategy.
We leverage data and intelligence on spend and supplier capability to select suppliers based on clear client requirements and industry benchmarks. From this, we identify and select suppliers, aligned to business objectives, that will provide the highest value at the lowest possible cost while building long-term relationships with each supplier.
Achieving sustainable cost reduction for clients is our ultimate aim. Our highly experienced team know exactly how to carry out an in-depth analysis of a company’s procurement processes and implement data-driven strategies that deliver cost reductions that can be maintained over the long-term.
Drive sustainable cost benefits
At Vendigital, we appreciate the complexities behind every company’s procurement process and understand the unique challenges faced by each industry in which we specialise.
Our team comprises individuals who have direct procurement experience within industry, ensuring we are able to quickly develop a clear understanding of a client’s procurement requirements. However, we also bring fresh perspectives that challenge long-standing assumptions and are able to identify and implement strategies to achieve clients’ goals, and at pace.
By bringing our consultancy expertise together with our proprietary digital platform, we are able to cut through complexity quickly and generate intelligence from unstructured data, even when this is held across multiple systems. We then robustly evaluate all levers, from tactical to strategic, to provide a blend of quick wins and long-term opportunities to realise a step-change in clients’ procurement costs.
Importantly, we are able to commit to specific cost reduction targets up front through our cost neutral fee structure – we back ourselves to deliver the benefits we promise and are easy to adopt for clients.
Client collaboration is at the heart of our approach. We work alongside your team at every stage of delivery to implement and embed long-term cost benefits, and don’t look to apply one-size-fits-all processes. As part of this, we upskill in-house teams so that clients can continue to achieve cost reductions on an ongoing basis.
By integrating our procurement recommendations into a company-wide approach that includes areas such as cost and value engineering, operating strategy or supply chain consulting we can deliver improvements that achieve wider cost transformation.
Whether you’re looking to make longer-term strategic cost decisions or drive operational efficiencies at pace, we work as part of your team to deliver quantifiable results.
Cost of ownership
Cost of Ownership provides an understanding of a product's whole lifecycle cost, revealing hidden expenses within different stages rather than simply its purchase price to support informed decision-making on future procurement.
Strategic sourcing
Strategic Sourcing evaluates all of the wider aspects of key suppliers' delivery, such as their true pricing, workflows and components, as well as the supply locations and warranties. Our consultants also review options outside of current suppliers, including future technology and prototypes. Backed with this information, clients can make insightful decisions on procurement from single or multiple suppliers.
Process and capability improvement
By analysing data on process and capability, we aim to streamline and improve a range of areas within the business. Reviewing the procurement function, internal processes and tools, and staff capability highlights areas where upskilling is required, ultimately creating optimal efficiency delivered by a confident and competent workforce.
Demand management
Demand Management is a deep dive into what creates the need within a business, which can then be used to guide clients in their procurement decisions. With this understanding, our experienced consultants can challenge demand and scale down procurement costs.
Category management
Category Management involves segmenting spend into different areas which enables opportunities for consolidation and focus. This takes procurement beyond the purchase of individual goods to create a longer term strategy, based on analysis and insight, to drive performance and economies of scale.
3rd party cost reduction
We combine data analysis with our expert knowledge of procurement to create a clear spend benchmarks across suppliers, locations and categories. From this we are able to rapidly identify 3rd party savings opportunities and enter into supplier negotiations based on data, leading to tangible and sustainable cost benefits.
Whether you’re looking to make longer-term strategic cost decisions or drive operational efficiencies at pace, we work as part of your team to deliver quantifiable results.
Cost of Ownership provides an understanding of a product’s whole lifecycle cost, revealing hidden expenses within different stages rather than simply its purchase price to support informed decision-making on future procurement.
Strategic Sourcing evaluates all of the wider aspects of key suppliers’ delivery, such as their true pricing, workflows and components, as well as the supply locations and warranties. Our consultants also review options outside of current suppliers, including future technology and prototypes. Backed with this information, clients can make insightful decisions on procurement from single or multiple suppliers.
By analysing data on process and capability, we aim to streamline and improve a range of areas within the business. Reviewing the procurement function, internal processes and tools, and staff capability highlights areas where upskilling is required, ultimately creating optimal efficiency delivered by a confident and competent workforce.
Demand Management is a deep dive into what creates the need within a business, which can then be used to guide clients in their procurement decisions. With this understanding, our experienced consultants can challenge demand and scale down procurement costs.
Category Management involves segmenting spend into different areas which enables opportunities for consolidation and focus. This takes procurement beyond the purchase of individual goods to create a longer term strategy, based on analysis and insight, to drive performance and economies of scale.
We combine data analysis with our expert knowledge of procurement to create a clear spend benchmarks across suppliers, locations and categories. From this we are able to rapidly identify 3rd party savings opportunities and enter into supplier negotiations based on data, leading to tangible and sustainable cost benefits.
Why choose Vendigital?
We are ideally placed to help complex businesses accelerate the transformation of their cost bases.
Client collaboration is at the heart of our approach
We cut through complexity quickly
We're focused on delivering long-term outcomes for clients
We work with clients to set the strategy and deliver the nuts and bolts of the solution
Intelligent approach to cost optimisation through deep understanding of cost and cost drivers
Deliver quantifiable cost reductions through our cost neutral fee structure
WHATEVER YOUR REQUIREMENTS, WE PROVIDE SOLUTIONS TO FIT YOUR BUSINESS NEEDS…
We looked at several leading supermarkets and the own brand ready meals they produce, to see where improvements could be made to both sales and profit margins through their product development process.
Supply chain deficits, such as semiconductor and chip shortages, have had a huge impact on businesses in recent years.
CFOs need accurate and meaningful cost data to make decisions in a climate of continuing cost volatility.
