Companies in the Media, Publishing and Events sector are under intense pressure to adapt, compete and survive.
The challenges of digital disruption in a previously print-centric world, consumer demand for faster, interactive information, and fierce competition from new titles are driving wholesale changes to business structure, distribution models and revenue streams.
What impressed me most was Efficio’s willingness to roll up its sleeves and get involved in our day-to-day business. We were in it together – we shared the problems and successes. We were, to all intents and purposes, a single team.
Despite the market being in growth, margins continue to be squeezed. The proliferation of competitor titles is occurring against a backdrop of declining circulations, ad revenues and subscriptions
With the cost base under severe pressure the need for better procurement is clear. However, many companies have grown through mergers and acquisitions, and often lack any formal or co-ordinated procurement presence.
Our expertise and experience
Efficio’s professional strategic sourcing and supply chain expertise delivers tangible and sustainable cost savings for leading companies across the sector, from distribution networks to data-feed firms, price reporting to publishing companies, and to the print, business services and social media that makes them tick.
We’ve helped clients such as Informa, Hearst Magazines and Reed Elsevier to save significant sums of money while retaining and improving upon the quality of the goods and services they procure.
At Informa, Efficio set up a high-performing procurement function that delivered £5.8m of annualised savings (45% ahead of target) in just six months.
We take time to fully understand our clients’ needs. Our experienced professionals speak intelligently and articulately to key stakeholders to identify opportunities for short and long-term procurement gains.
We know, for example, that clients will be protective of their creative suppliers – freelancers, photographers, designers, and so we tailor our approach accordingly. We also know it is possible to be more assertive in other areas. A detailed analysis of spend will help us identify where to focus attention to help increase efficiency and save money.
Typically we create value in three ways:
- Enabling better commercial decision-making
- Exploiting synergies across disparate divisions and departments
- Embedding effective procurement strategy for the future
Deploying all three simultaneously can result in annual double-digit percentage savings.
We ensure you have a robust strategy that has the longevity and flexibility to suit your needs. Whether you put your own team in place to follow our plan, want us to build one for you, or choose for us to be that team, we make sure you have a sustainable service that embeds good practice and delivers consistent, measurable and sustainable savings.