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Banking & Finance Case Study
How we saved this high street this high street bank £6.9 million
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The requirements
In June 2000 one of the UK’s leading high street banks awarded Banner its contract for the supply of office consumables valued at £15 million per annum.
Since the start of the contract thanks to the involvement from Banner, the amount spent on office consumables by the Bank was reduced to just £8.1 million, This saving of £6.9 million – a 46% reduction – was achieved while the number of office staff remained constant.
How we saved this high street bank £6.9 million
This was just one of the major cost savings introduced on behalf of the bank.
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Performance summary
• Stock holding liability = reduced by £510,000
• Management of bespoke stock
= saving £474,592
• Electronic trading & spending controls = saving £1 million
• Demand management &
rationalisation = saving £1.4 million
• Review of branch network consumables = saving £700,000
How we saved this high street bank £6.9 million
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Reducing financial liability
Controlling stock levels reduces financial liability
A dedicated Account Management Team worked in partnership with the product owners within the Bank to ensure that appropriate stock levels were maintained and demand effectively controlled.
This activity reduced the Bank’s stock liability from the initial transfer of £750,000 to an average of £240,000.
How we saved this high street bank £6.9 million
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Implementing spending controlsA series of initiative – ranging from branch order management to product source reviews – resulted in a further £700,000 in savings and cost avoidance during 2011.
How we saved this high street bank £6.9 million
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Electronic trading
A key objective for the Bank was to introduce an effective electronic ordering platform for all its end users to move away from manual processes.
Over a period of several months Banner worked with the branch network and Bank’s IT department to deliver a system for 1,750 branches with effective cost and ordering controls in place.
These controls resulted in a saving of over £1 million, with a £750,000 reduction in office supplies and £250,000 on printed stationery.
How we saved this high street bank £6.9 million
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Order rationalisation
In 2008 Banner undertook a complete review of the Bank’s core list to evaluate ordering patterns and focus on the best value products available.
How we saved this high street bank £6.9 million
The new system automatically switches an order for a non-preferred item to an agreed best value alternative.
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Your office supplies procurement just got a lot easier
Customers trust us because we continuously demonstrate how we proactively cut out unnecessary costs, find them savings and always deliver exceptional quality.
If you believe you could benefit from Banner’s expertise, get in touch:
T: 0845 226 4708E: [email protected]/how-we-do-it
How we saved this high street bank £6.9 million
