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Tech Giant Achieves Giant Savings by Optimizing Vendor Operations

Tech Giant Achieves Giant Savings by Optimizing Vendor Operations

CHALLENGE

A tech behemoth struggled to optimize finance and vendor operations, and to ensure accuracy and reliability of internal data managed across a number of discrete systems and data warehouses. This not only hampered a comprehensive view of operations, but led to frequent vendor overpayments and inefficiency. Building a cost-obsessed center of financial operations excellence was a necessity.

$35MM in annual savings

APPROACH

To streamline our client’s processes, we started with a comprehensive and granular audit of existing vendor and finance operations workflows, vendor contracts and client systems. We then conducted in-depth discussions with senior client stakeholders and vendor teams to establish priorities. Having established the foundation, we then began execution: We leveraged the client’s own systems to develop a comprehensive data warehouse, set up vendor training processes with significant documentation, and build systems for proprietary data and process analytics to drive timely, accurate and actionable insights for senior finance and vendor executives. We continue to operate as an extension team for ongoing analytics, process optimization and critical insights.

"The reporting portal is great! It really helps bring clarity to the wide variety of projects you help us manage. The Grail partnership has been critical for keeping our financials in check, completing our annual planning, tracking our cost reductions, etc."

RESULT

Within three years, our cost analytics insights, process optimization and recommendations helped drive over $35MM in annual savings of the company’s finance operations outsourcing budget, while providing greater understanding of operational priorities and growth plans.

Reduction in FinOps outsourcing budget within 3 years 35%
Standardization of vendor and finance processes across 60 vendors and 1,000+ POs
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