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Having worked extensively in the financial services sector, we know that there are particular pressures on financial information institutions to understand where their data goes and how it’s used. Here, we talk to Jonjo Hobbs about how Capita Procurement Solutions’ contract review process has created multiple benefits for clients.
First, can you tell us a bit more about what the contract review process means in relation to financial information organisations?
I think everyone recognises the benefits of regularly reviewing existing contracts to make sure service delivery is aligned to specifications and pricing is consistent. Our experience of assessing many hundreds of contracts (both client facing and with suppliers) has demonstrated that although contractual constructs might vary, the underlying themes still prevail. In particular, contract reviews reach far wider into the realms of risk management, compliance issues such as GDPR, and provide the opportunity to mitigate these risks.
Cameron Howes our Integrated Procurement Solutions Director answers a few questions about managing transactional procurement processes and how to make them work for your organisation.
Tell us a little about what you do....
I manage our tactical procurement shared service across three distinct geographies UK, Poland & India. Our role within the shared service is to manage transactional procurement processes and activities across multiple clients. This ranges from the processing of purchase orders to managing contract databases and running procurement exercises on behalf of our clients. We also deliver spend analytics within Capita and externally to clients to support the procurement decision making process.
Paul Walsh our Engagement Director answers a few questions about PFI (private finance initiatives) and his experience of managing change within these complex contracts.
What does the current PFI landscape look like?
PFI schemes are big business in the UK. Official figures show there are over 700 schemes with a combined annual cost of circa £10Bn. They cover nearly all aspects of public sector delivery from hospitals to roads. We have recently been successful in renegotiating certain aspects of in-flight PFI contracts, realising life cycle savings of over £16 million for one of our clients, with a further £100m identified for delivery.
Kieran Sullivan our Client Services Director answers a few questions regarding tail spend management.
Which of Capita Procurement Solutions offerings are you seeing most interest in?
Whilst our “work-alongside” sourcing support model, where we add either capacity or specialist capabilities to our clients own procurement team remains the main area of interest for clients we have seen a significant growth in interest in our tail spend management solution.