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Case Study - Outsourcing and contracts management
Abstract
| Client |
International banking group |
| Challenge |
To implement and managed outsourced BIS functions |
The group has $1 trillion in assets, 60,000 employees worldwide and a
presence in 74 countries.
Before Prenax the Bank was using many suppliers.
Prenax branded all software interfaces with the bank’s look and feel.
All subscription-related business was outsourced to Prenax. On-site and
off-site staff were used, and remote IT access and telephony systems were developed.
Prenax was given complete inventories for all suppliers that included the recipients’ identities,
their cost centres, locations and expiry dates if known. A whole organisational
map was built into the bank’s online account affording superb functionality and reporting.
Prenax uncovered savings equivalent to 20% of the spend through the culling of wastage.
The bank also outsourced to Prenax the management of all forms of information - from large
site-licenses to electronic media. By outsourcing their internal subscriptions function
to Prenax, the bank was able to realise cost savings by reallocating their resources and
making the procurement process electronic and more efficient.
Prenax, please send me the full version
Capture and control of decentralised spend using e-Procurement tools
Abstract
| Client |
Large Financial Services Client using an e-procurement platform to capture decentralised spend |
| Challenge |
To capture and control a decentralised and maverick spend across a global operation |
"Company X" is one of the world’s largest financial services companies specializing in Global Securities, Global Asset Management and Global Credit Card Services, and employs approximately over 200,000 people in over 80 countries. Prenax manages the subscriptions for the Europe, Asia (including Hong Kong, Japan, Australia, China, Malaysia, India) and the USA.
Before engaging Prenax as their subscription agency, Company X were using an array of solutions to purchase and manage their subscription spend. This included purchasing through various 3rd parties and dealing with some publishers direct, which allowed them to negotiate bulk discounts on some expensive titles. Not all subscriptions were being captured, however, so there was potential to control maverick expenditure. With subscribers (and purchase approvers) using multiple suppliers to get their information, the managers at Company X who required MI were unable to compile accurate reports on their spend, and finance departments (local, and national) were having to process multiple invoices on a weekly/monthly basis.
Company X wanted to have more control across all regions in the way they purchased information material, and were seeking to expand on the use of ARIBA. They had already rolled-out the use of this desktop buying tool to some end-users in order to procure one-off purchases such as stationery. This allowed, focusing in their core regions in the Asia and the UK.
By choosing Prenax as their subscription agency, Company X was able to give their managers the ability to produce accurate spend reports on their subs and books expenditure both locally, nationally and internationally and also to keep the discounts they negotiated with some of their key publishers. The client moved their subscription buying functions away from a centralised library model to a decentralised end-user model. The total Subscription spend was both captured and controlled through Prenax and ARIBA.
Prenax, please send me the full version
Case Study – Implementation & Electronic Invoicing
Abstract
| Client |
Brewer and Theme Park Operator |
| Annual Spend |
£250,000 + Annually |
The world’s largest Brewer and Theme Park Operator wanted to move to
electronic invoicing, but its current subscription provider could not
handle the company’s 20-digit cost code. In addition, the Company wanted
to phase-out its own internally supported software program that it had
running parallel to the current subscription provider’s system.
It was decided to upload the subscriber data electronically, which
eliminated unnecessary errors associated with re-keying pertinent
information. The previous subscription provider’s data was not
accurate enough to rely upon and the decision was made to verify
the publisher’s account number and the accurate expiration date of
virtually every subscription.
The result of the subscription cleaning was that the company saved
£15,000+ in year one alone.
Prenax Online was successfully launched and Prenax satisfied all of
the Company’s goals in terms of electronic invoicing and producing
a system that worked well with the Company’s internal systems. The
Company was able to discontinue running its own parallel system and
saved money by not having to utilise or support the internal software
application.
Prenax, please send me the full version
Claims Reduction Case Study
Abstract
| Client |
Media Tracking Company |
| Annual Spend |
£130,000+ Annually |
The company orders and receives well over 1000 subscriptions per year.
Since the company scans advertisements contained in the subscriptions
into their database, it is critical that every issue arrives on time.
The company tried handing their subscription management internally and
then through one of Prenax’s competitors, both producing poor results.
Prenax reconciled all of the subscription data held on the databases of
both the client and the publishers and created a list of problem publishers.
Prenax helped the Media Tracking reach an unprecedented 96% success rate
for issues received – leaving only 4% to claim as missing for redelivery.
Previous to Prenax’s intervention, the Company regularly counted 84% issues
received – leaving 16% to claim as missing for redelivery.
Prenax, please send me the full version
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