In this case study, you will read about how we deployed our maturity assessment methodology to help an organisation validate their approach to procurement.
Our client needed a partner who could lead a deep-dive review their procurement working practices and cost-base, working closely with business stakeholders to identify areas in which the client’s costs, and cost-control processes, could be optimised.
Headquartered in their state-of-the-art site at Tower Bridge in the City of London, our client is one of the most modern, progressive and commercially-oriented City law firms. The firm is made up of over 600 employees, including over 80 partners and more than 300 lawyers, some of the sharpest minds in the legal market. Their clients range from large multinationals to mid-sized and growth UK corporate firms as well as other professional practices.
Their Chief Financial Officer said: “…In a demonstration of our commitment to value, commerciality, and efficiency, we wanted to work with advisers who would enable us to really evaluate our current procurement processes…”
Following a comprehensive tender process, we were the partner of choice.
As with any engagement of this kind, it is essential that our findings are comprehensive, clear, but more so, the recommendations arising of them are practical and relevant.
Our approach to addressing the brief from the client was to undertake our procurement maturity assessment process. A two-stage process, our maturity assessment that takes into account both quantitative data, garnered through fixed assessment criteria and scoring; and secondly, qualitative data, through the review of existing policies and procedures, stakeholder interview and alike.
The application of our maturity assessment methodology provides our end client with two critical deliverables, which provides them the opportunity to assess and rationalise the scale of change that may (or may not) be needed.
- Firstly, an assessment of the ‘current state’, through the application of quantitative and qualitative processes as described above.
- Secondly, what we believe to be appropriate areas for further development, and, how we can further share or embed the best-practice elements already within the firm. Further, where we believe there may be areas of the supply chain that could be improved upon, in terms of value for money, contract management or total cost of ownership.
Oculus completed our maturity assessment over two weeks, after that our findings were shared with the senior leadership team.
Our thorough assessment and findings gave our client clear and unambiguous proposals, based on fact and measure, enabling them to establish areas where they wanted to invest in improvements, or, reflect on how high-performing areas could be replicated across the firm. Particularly;
- Opportunities to introduce new ways of working, or further develop existing ways of working, to further drive collaboration; empowerment; and structured decision making, without introducing bureaucracy.
- Areas of firm expenditure in which we believed cost savings or improvements in value could be achieved.
This was a hugely enjoyable engagement for Oculus and a privilege to work with this leading legal firm.