Efficio, the procurement experts, were shortlisted today for two prestigious MCA Awards.
Recognized in the International category for their work with the Government of Saudi Arabia’s Local Content initiative and in the People category for their work with Informa’s Knowledge & Networking Division, which operates as KNect365.
International category – Government of Saudi Arabia
Efficio’s work for the Government of Saudi Arabia saw the team engaged to develop a strategy and methodology to identify the current level of Local Content within the extended Supply Chain of the Kingdom. The study also made recommendations in the form of new initiatives which aim to secure greater localization of technology and expertise in industry in the Kingdom of Saudi Arabia. In addition, the government also wanted a real-life economic model of the Saudi economy that reflected the underlying supply chains to clarify the relationship between economic growth and the impact this would have on jobs. Efficio based a team of eight in Riyadh, supported by a central analytics team in London, and organized the team into three main work streams: quantitative analysis, qualitative analysis, and legal and regulatory framework.
Following an intensive program working with the top 20 Private companies in the Kingdom and the major spending Public Ministries, Efficio presented a clear strategy and change program that when implemented has the potential to significantly improve job opportunities for Saudi nationals and act a major boost to long-term economic development in the country. The changes were approved by the Legislative Executive of the Government of Saudi Arabia and are now in the process of being implemented and reflected with legislative and procedural reform.
People category – Informa
In the people category, Efficio is shortlisted for their work for Informa’s KNect365 division. This project saw the Efficio team review, set up and embed a new procurement function across the business, recruiting and training an internal team who will continue to deliver efficiencies over the long term. Just six months after the new Global Procurement Director had been appointed, the new team was completely self-sufficient, on track to exceed the savings targets and well on the way to becoming a best-practice procurement function. The new team have delivered on the procurement strategies put in place by Efficio and have already achieved annualized savings almost 50% ahead of forecast. The project has achieved a return on KNect365’s consulting investment of 3.8 – more than double the original forecast.
Commenting on the shortlist, Jens Pedersen, CEO of Efficio said:
The Annual MCA awards are our industry’s benchmark of excellence and to be shortlisted in two such diverse categories is testament to the breadth and quality of worked carried out by the Efficio team. Both in our home market and internationally we work with our clients to create sustainable results, developing strategies that deliver on core objectives and embedding long lasting best practice for client teams.