Managed Services Solution for Top US University Led to $2-3M in Total Savings
When the University’s procurement leader stepped away, their team faced a gap in expertise. Consequently, they needed support to keep projects on track. At the same time, they were looking for ways to enhance their team’s capabilities, introduce fresh strategies, and ensure they continued adding value for the organization.
ProcureAbility’s managed services solution:
Clear and manage backlogs of purchase requests and contracts
We collaborated with senior leadership to evaluate and redesign processes, while also clearing a backlog of contracts and purchase orders
Increase delivery of procurement services
We integrated into the client’s P2P process to manage the entire lifecycle, from purchase requisition to contract signature
Provide transparency and establish benchmarks
ProcureAbility provided an expert understanding of industry benchmarks and best practices by establishing KPIs and SLAs to track project metrics, ensuring transparency and accountability for internal clients
Client impact and measurable results:
$2-3M in total estimated savings
ProcureAbility introduced a new category system to improve the visibility of addressable spend
24% reduction in contract lead times
At the same time, ProcureAbility fully executed 700+ contracts for the client
4.4k procurement requisitions processed
We also created customed transparency tools and trackers for stakeholder review and accountability for the client to utilize going forward
ProcureAbility also reduced internal review time by 35% in just one quarter. As a result, the team experienced significant efficiencies, demonstrating clear value to the University. Furthermore, the full managed services case study provides more details on how our solution provided real impact to the procurement team – and how we can achieve the same results for yours.
