Digital Transformation
One of the world’s leading medical products and technologies companies engaged 4C to drive end-to-end efficiencies across their procurement function through a multi-phase, multi-year transformation. The key objective was to transition transactional business process to their three global shared services centres, whilst automating processes and enhancing user-experience.
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The Problem
- The client’s non-structured data strategy was non-compliant from a regulatory perspective and inefficient
- With multiple taxonomies, processes and technology solutions user experience feedback was poor, vendor onboarding slow and payment terms were impacting working capital
- They engaged 4C to lead their full source-to-pay transformation programme; managing stakeholders across 25 countries to improve efficiency and compliance
The Solution
- 4C established a global transformation programme with cross-functional workstream alignment, change and communication strategies
- Processes were redesigned including supplier onboarding and requisitioning
- Standard taxonomies were deployed with new master data governance
- Pcards were deployed to over 25 countries
- P2P training was automated, using an AI solution
The Impact
- Supplier onboarding requirements were reduced by 52% and payment terms applied consistently
- Standardised taxonomies have given full spend transparency
- 323 FTE days a year are being saved through automation execution, with a 32% reduction in process touchpoints
- Pcard deployment reduced vendor onboarding by 50%
- 88% PO:Invoice compliance was achieved
- User NPS improved from -55 to +33
- Over $1m licence fees saved