Ann-Christin Andersen – Director, TechnipFMC talks to Fulcrium about how collaboration between operators and service companies can achieve 30% supply chain savings.
Covers Pricing, Standardisation, Technology Innovation and Operating Model adjustments in response to an ultra-low oil price environment.
Our benchmarking services ensure that value excellence is obtained from every supplier appointment – from single time-limited engagements to preferred supplier relationships.
This global supermajor used Fulcrium’s benchmarking services to provide unprecedented insights into service companies.
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Fulcrium gives an independent view of each service firm, using a very wide range of sources, making them from our point of view a highly valuable secret intelligence resource.
They also understand - from having worked in them - how service companies and technology firms operate in terms of structuring and extending engagements, setting fee levels and building strong relationships, so another benefit to us is the fact they are effectively “poachers turned gamekeepers”.
That is, they now act as buyers’ advocates - helping us to get the very best out of our service company suppliers.
The client described Fulcrium as delivering ...
Highly credible benchmarking data in precisely the format we required – granular, by service line, grade, and geography.
This has enabled us to re-establish our preferred supplier list and we now have a far more sophisticated understanding of how to leverage benchmark data in negotiations.
This will enable us to deliver enhanced value throughout the organisation as part of our drive to reduce our cost to income ratio.
One of the UK’s largest banks used Fulcrium to provide credible data on professional services firms.
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This global supermajor used Fulcrium to put its relationships with external counsel on a sound commercial basis and prevent their market arrangements with them becoming grossly sub-optimal.
The initiative reduced the company’s legal services expenditure by $183 million over a three year period, representing 10% saving annually (as validated by the Supermajor’s financial controllers). Less tangible savings included the fact that the in-house legal team had achieved a reinvigorated relationship with its external counsel and felt a greater sense of control.
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I believe that, as a result of Fulcrium’s involvement, we are five or six years ahead of the other Supermajors in terms of our procurement strategy and implementation for Legal Services and I am very proud that we are in that position.
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