How we delivered significant cost savings for a global technology company

The brief.

We were engaged by a global technology company who were experiencing challenges with their supplier invoicing reconciliation processes and contract adherence. We performed an extensive audit of their legacy invoices and support processes, and from this provided our recommendations for how to make improvements. Given our experience providing similar services to other clients, with millions of pounds in value being scrutinised, we were able to create a solution for our client that would deliver them greater financial control, more operational rigour and savings that delivered a 300% return on our fee.

Our services.

Within the programme, we helped our client to:

• Conduct an end-to-end review of the invoicing process from the creation of the purchase order through to the invoice being paid.
• Perform a risk assessment of the data sources being used to generate the invoice linked to the charging mechanisms in place.
• Benchmark the historical and current invoices against alternative Management Information System data sources.
• Review and suggest improvements to the governance model that controls and approves expenditure with the supplier.
• Reconcile the change control notes against the outcomes delivered, ensuring the flow through of changes to the underlying business case.
• Assess the level and appropriateness of additional spend and understand change control procedures.
• Propose changes to the process, governance, data sources, Management Information and contract, to recover historical over-billing and ensure future charges are maintained at an appropriate level.
• Review commercial inputs and outcomes, providing support to ensure appropriate actions are in place.
• Advise commercial amendments and propose how to resolve any commercial risks and issues.
• Review financial forecasting for profitability and alignment to operational execution.

“The support, advice, insight and recommendations provided by the tkg team were beyond our expectations. We were impressed by the calibre of the individuals involved and the actionable report they built for us. The work the team at tkg did, has helped create a new way of working in an area we thought was operating well before they became involved.”

The client was exceptionally pleased by the results we achieved. The invoice reconciliation work, as it almost always does, found significant savings, which once implemented, will deliver a return of over 300% against the tkg fee. We were delighted to have left behind a significantly improved data management and operational governance framework that will ensure our client will be self-sufficient in the months ahead.