Our solution in action: a case study | KPMG | SG

Our solution in action: a case study

Our solution in action: a case study

Delivered sustainable cost savings for a major regional bank through a technology-powered spend optimization and transformation journey.

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Our solution in action

Client challenge

With one of the highest cost-to-income ratio (CIR) in the region, the client faced a substantial cost and efficiency challenge. Key issues included: 

  • Limited visibility of spend data 
  • Fragmented and decentralized spend across the region 
  • Lack of spend controls and transparency 

In order to address these issues, the client required a spend transformation project to: 

  • Define the transformational change needed to optimize spend across the region 
  • Provide the technology enablers to achieve the necessary change 
  • Enhance strategic sourcing and category management capabilities to achieve immediate and sustainable cost savings

 

Our approach

The KPMG team designed and implemented a technology-powered spend optimization and transformation program that is capable of delivering sustainable cost savings. 

Key activities included:

  • Deployment of spend management solution 
  • Extraction and consolidation of spend data from multiple ERP systems across the region 
  • Data cleansing and classification to a single target taxonomy that is enabled by machine-learning
  • Spend diagnostic on a single harmonized spend data set
  • Rapid identification and validation of saving opportunities
  • Capture and realization of saving opportunities, including e-bid events
  • Savings tracking and reporting

Key benefits delivered

The spend management solution has delivered immediate and significant savings; while continuing to generate data-driven business outcomes and insights. Key benefits included: 

  • Over US$6 million in quick win savings captured within six months 
  • 38 spend optimization opportunities identified in the IT category 
  • More than US$0.3 million wave 1 savings identified in the facilities management category

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