One of the world’s largest energy companies needed to embrace the disruption currently spreading throughout its industry – and offer customers new channels, smarter services and simpler experiences.
However, their traditional approach to digital skills procurement was holding it back. Isolated in nature, and limited to a single supplier, it was preventing the company from:
- Sourcing the right skills at the best price
- Identifying the most cutting-edge solutions
- Encouraging partners to invest in project outcomes.
Coeus' Approach
Coeus Consulting worked closely with the client to completely redesign its strategy for sourcing digital skills, applying Agile and Lean principles, and driving lower costs, greater productivity, and closer partnerships.
This meant capitalising on Coeus’ status as independent consultants to liaise with multiple suppliers and run joint workshops, collaborating to create the RFI and RFP.
It also meant working with sensitive procurement information to build a reusable commercial model for scoring vendor proposals. This model is helping the client:
- Accurately assess the value offered by different suppliers
- Reach transparent, objective sourcing decisions
- Achieve stakeholder consensus at all levels.
Coeus also helped the client create a new, flexible, modular contract framework. This framework lets the company engage few suppliers, and provision new skills, with a minimum of renegotiation – boosting procurement productivity, and accelerating the development of new digital services.
Outcomes
The new framework is also designed to encourage the supplier collaboration that’s so essential to the successful delivery of digital initiatives. To this end, it directly links supplier rewards to project outcomes, and mandates the sharing of information between project partners, as well as joint on-site working.
The client’s new sourcing strategy draws on disruptive methodologies to help the company embrace disruptive technologies time and time again – and ultimately, stay one step ahead of the competition, even in this era of rapid change.
Even better, it’s delivering huge commercial value for the company, through increased sourcing speed and flexibility, and significantly reduced costs:
- A 33% reduction in supplier rates
- €20m+ opportunity based on projected work
- 3x faster supplier response rates
- A rapid micro-tendering process reducing supplier response times for new work from one month to ten days.
Coeus' Sourcing Capabilities
At Coeus we provide support to clients on their sourcing journey, from helping to select the most appropriate sourcing strategy and the right suppliers, to negotiating contracts that work in the real world. To find our more about our offerings have a look at our Sourcing Capabilities here.
