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CATEGORY  |  Finance

The freedom to control

Finsbury Green enabled Teachers Mutual Bank Limited (TMB) to take complete control of their print and marketing collateral sourcing.

Here’s how we’ve helped them succeed.

  • Provided the ability to self-manage sourcing.
  • Reduced their buying costs.
  • Reduced their time and effort to source.
  • Reduced the environmental impact through the supply chain.

Transparency in banking is an often-used word for openness and fairness, something TMB has done for 50 years, and it’s what we brought to their print and marketing collateral sourcing.

Today, TMB is one of Australia’s largest mutual banks incorporating UniBank, and Firefighters Mutual Bank and a shining example of how a self-managed model can operate using Sourceit, our sourcing software.

Self-managing sourcing

TMB staff had the experience and capability to manage their sourcing internally and that’s why we recommended a self-managed model. They needed our awesome sourcing software, Sourceit to take the leap of faith and increase responsibility. Sourceit gave them complete control and visibility to function the way they wanted.

Reduced buying costs

The key to reducing costs is that Sourceit drives greater transparency and contestability and disrupts the comfort of existing supplier relationships delivering cost savings and value for money.

Emma Campey, Production Manager at TMB explains: Contestability is what Sourceit does really well and has definitely improved compliance, quality and consistency. The visibility and transparency on every transaction is excellent.

In the first year we saved over 25% because we went to the market on each and every product. – Emma Campey

Reduced time and effort

Incorporating two more brands into one system was just so easy. Sourceit allowed us to manage three times the volume without any trouble and growing our brand without any additional resources. Centralising artwork and product specification is a timesaver for our team too.

Decentralised ordering allows branch staff to order all their products online using the inventory management system in Sourceit.

It’s meant that we were able to add a whole new product range and group of users with each acquisition. Each time it’s been really easy to add something to the mix and we no longer rely on staff to know where everything is. Our stock on hand is always up to date which makes life much easier and completely removed all the stress.

Reduced environmental impact

TMB has strong corporate social responsibility standards through community investment in ethical businesses and has won the World’s Most Ethical Companies Award* for an impressive three years in a row.

The business is really serious about sustainability and so am I, clarifies Emma.

We constructed a bespoke supply chain specific to TMB’s needs, introducing more diversity to meet their strong sustainability criterion, which provides the ability to select suppliers on more than just price. Forest Stewardship Council suppliers are verified in Sourceit and CO2 reporting on supply chain performance feeds into their annual reporting.

Finsbury Green’s software and fantastic supportive staff has made so much difference to our business.

*Ethisphere Institute, 2014-2016.

For more detail please contact us here.

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