Definia was engaged by the UK COO and CFO of a leading global bank to assist with a largescale transformation. An initial diagnostic demonstrated that procurement could be an important future value lever but required significant change to deliver against the business’s expectations. The lack of procurement functional maturity manifested itself through a number of visible performance metrics:
- Speed: processes were too slow and complex
- Fragmentation: activities were dispersed across the organisation
- Engagement: lack of positioning led to late engagement
- Value: delivery of efficiencies was sub-optimal
- Roles and responsibilities: lack of clarity led to a lack of ownership and accountability
- Capabilities: a focus on reactive activities led to significant gaps
As such, the procurement operating model was not fit for purpose and there was an appetite to build a best-in-class function that could support future business goals.