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Cost Reduction

Reducing costs is a key objective for many organisations at some point in their business lifecycle – whether to increase profitability, reduce waste, fund expansion or remain competitive during difficult market conditions. However, it is often not simply a case of reducing costs for maximum impact in the short term; but rather implementing cost-saving solutions which will endure in the long term.

We help businesses reduce costs, improve internal processes and upskill their procurement teams so that they can realise these cost savings faster, autonomously. Our cost reduction service ensures savings are measurable and sustainable – delivering greater value for your business over the longer term. 

Insight

Our procurement specialists are able to rapidly identify cost-saving opportunities using our bespoke proprietary procurement platform, eFlow, a unique and innovative tool combining people, knowledge and technology.

Innovation

We typically start with a four to eight-week opportunity assessment. These assessments are deployed quickly, with minimal disruption to your business, ensuring a swift and practical approach to identify savings opportunities.


Based on our findings, you can decide whether to explore a broader collaboration opportunity or a more focused approach towards meeting your savings targets, for example category-specific support or spend analytics. 

Through utilising our eFlow platform, we can help you reduce costs by transforming your procurement capabilities, providing access to the expertise of over four hundred consultants. We can benchmark your procurement function across a range of dimensions to assess effectiveness and identify areas for further development. As a result, we deliver savings that are both substantial and sustainable.

Significant Experience

We have supported clients across a multitude of sectors to reduce costs through implementing more effective procurement functions. Efficio experts used a highly collaborative approach when they were engaged to support a major cost reduction project for a global bank and as a result, helped deliver a one-billion-dollar reduction in external spending. 

Efficio’s work has laid the foundation for ongoing improvements, creating an effective system to ensure savings were tracked and delivered and targets were met. For the first time, the bank was left with a single source of data, with full visibility of its procurement pipeline and the status of its key projects. The bank was provided with a legacy of procurement skills, techniques, and systems– and the cost-reducing capability remained long after the project was completed.  

Value Engineering: An advanced and collaborative cost reduction approach
Insight
Value Engineering: An advanced and collaborative cost reduction approach

Companies now often focus on the savings realised through negotiations with incumbent suppliers and competitive tendering, but with commercial levers already having been implemented, CPOs are shifting focus to other value creation levers.

How Efficio helped refocus MEC3’s procurement
Case study
How Efficio helped refocus MEC3’s procurement

Efficio was tasked with helping MEC3 refocus their procurement strategy, a partnership that proved a great success.

In-year savings guide
Guide
In-year savings guide

Download our ‘In-year Savings Delivery Guide’ to learn how to improve cash savings

Efficio on how to navigate procurement in a post-merger world
Insight
Efficio on how to navigate procurement in a post-merger world

In an article published by Supply Chain Dive, Alex Klein, vice president at Efficio, shares his views on the significance of procurement post-merger, and the actions needed to realise cost-savings immediately.

Transforming the supply chain of Survitec Group
Case study
Transforming the supply chain of Survitec Group

Efficio helped Survitec Group implement a Procurement Improvement Programme. Introducing structural change to the supply chain, producing significant cost reductions.

Delivering sustainable savings at Grupo VIPS
Case study
Delivering sustainable savings at Grupo VIPS

Efficio helped Grupo VIPS to drive a Strategic Sourcing programme across its direct and indiect spend, achieving 10% annualised savings within six months.

Procurement refresh boosts Thames Water capability
Case study
Procurement refresh boosts Thames Water capability

Efficio helped Thames Water create a new operating model, a mix of classic consulting and outsourcing to increase ROI and enable them to exceed business targets.

Delivering £260m in cumulative savings  to National Grid
Case study
Delivering £260m in cumulative savings to National Grid

Efficio helped National Grid to transform its Procurement operations while delivering £260m in cumulative savings to the business.