Financial Services Procurement Strategy and Transformation

CRG leads a procurement transformation initiative for a global investment management firm


Following the merger of its two investment management groups, a global investment management firm initiated a transformation program to centralize and consolidate back office functions to maximize efficiencies gained from the merger.

Procurement was historically decentralized throughout the organization, and as part of the transformation, the company established a centralized Procurement Department with the responsibility of ensuring value-for-money on the procurement of goods and services.

CRG was retained by the organization to assist in the design of the future state strategy and target operating model for the Procurement Department.

CRG delivered the following:

  • Developed a procurement strategy that would shift the focus toward strategic spend and category management to drive value-for-money
  • Conducted a spend analysis to baseline more than $200M in annual 3rd party spend and identify opportunities for cost reduction
  • Worked with key stakeholders and supported a category management pilot within the Real Estate category, which included end-to-end facilitation of go-to-market processes to negotiate pricing and agreements with vendors in support of the organization’s real estate expansion strategy
  • Designed future state Source-to-Contract processes to clarify roles and responsibilities, improve efficiencies and compliance
  • Designed a future state Supplier Management framework to help the organization govern supplier relationships and mitigate 3rd party risk

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