Major UK law firm leverages cost reduction to optimise their back office, saving £800k+

Major UK law firm leverages cost reduction to optimise their back office, saving £800k+

Major UK law firm leverages cost reduction to optimise their back office, saving £800k+

 

Client

Major UK law firm working with clients across a range of industries including a number of FTSE 250 businesses.

The project objective was to drive EBITDA improvement from cost improvements in indirect spend categories.

 

Approach

Rapid Spend Analysis & Opportunity Assessment identified savings across all non-pay spend.

Output report used as business case with Partners for procurement cost reduction project.

Strategic sourcing programme across 12 categories to deliver identified cost reduction.

 

Results
  • Partners and key stakeholders engaged throughout the firm to fully understand the business requirements.
  • Range of approaches from incumbent supplier negotiation, tendering to deep-dive demand management.
  • Supplier-led innovation utilised for step-change modernisation.
  • Process optimisation based on new suppliers and service offerings.
  • Double-digit savings impact in postage, telecoms and IT.

Total saving of >£800k delivered. Saving 6.6%

 

 

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