CATEGORY | Finance
Here’s how we have helped Mercer.
Mercer is one of the world’s leading firms for superannuation, investments, health and human resources consulting and products. The business has been crowned the World’s Best Provider of Pension Plan Administration Services by Global Finance magazine five times and it’s been in the top 50 of BRW Australia’s most innovative companies.
Because we’re focused on innovation, the company is always looking for a better, smarter way, says Tim Richter, Procurement and Vendor Management Leader for Marsh & McLennan Companies Pacific (MMC), of which Mercer is a part.
But we had quite a diverse spend across the company and saw an opportunity to improve our sourcing process.
Mercer wanted to centralise its disconnected print procurement activities across the business into a single team, drive efficiencies and cost savings and eliminate leakage, while building a platform to expand these services.
In short, Mercer wanted a partner who would support this transformation while building a solid relationship that championed innovation, collaboration and continuous improvement.
Tim says Mercer chose Finsbury Green as the successful bidder, quite simply because they understood our requirements and presented a convincing plan.
Working with Finsbury Green has improved Mercer’s print sourcing in several ways.
Firstly, by creating a dedicated team we can focus on print specifically and boost our knowledge through Finsbury Green’s expert advice.
Secondly, we deliver value to the firm by ensuring that spending is always contested through the supply chain.
In the first year of the agreement the overall reduction is around 15%. This will continue to improve as the business adapts to our new way of sourcing print and related services.
Finsbury Green’s software Sourceit is impressive – Tim Richter
Sourceit allows us to buy at the best value for money. It also delivers all-important reporting that was difficult for us to do, so we can drill down into our print spend and focus on areas that we need to.
It’s given us greater control and visibility of our supply chain.
With training, knowledge transfer and on-site support we were able to make sure there were no impacts to the business during implementation.
We began this journey within Mercer because it’s our largest print spend.
We’re now rolling out this approach to Marsh and the other companies in the group. We have also started to explore whether we can apply this approach to some of our operations overseas.
The long-term vision is to have all MMC entities Pacific-wide use this model to source print and related services, so we don’t miss out on any savings opportunities.
For more detail please contact us here.