SUCCESS STORY
Established cost transparency
Turning Audit Findings into Actionable Insights in Financial Sector
- Real-time visibility drove accountability and cost optimisation at a global bank
Outcomes
Governance
Introduced KPIs to improve accountability and strategic alignment
Cost management
Addressed inefficiencies identified in NAO audit
Operational efficiency
Increased collaboration between procurement and BUs
ESG impact
Embedded sustainability, ethics, and security into procurement
Supplier compliance
Aligned procurement practices with bank’s values and ethical standards
BACKGROUND
This global bank serves financial institutions across 40 countries.
Facing increased complexity and regulatory scrutiny, the bank saw an opportunity to elevate procurement’s role in driving cost control, governance, and ESG outcomes.
the challenge
A newly appointed head of procurement launched a transformation effort following a National Audit Office (NAO) review. The audit revealed inefficiencies, governance gaps, and a lack of visibility across procurement activities, highlighting the need for a more structured, data-driven approach.
SOLUTION
Anvil partnered with the bank to deliver a suite of financial analytics, including:
- A comprehensive spend analysis, offering the first clear view of spending patterns
- Identification and implementation of optimisation opportunities within five weeks
- A live “vital signs” dashboard, enabling daily operational insight and smarter decisions
- Performance-driven KPIs to embed accountability and align procurement with business strategy
- New procurement standards to support the bank’s ESG commitments, covering environmental impact, diversity, ethics, community, wellbeing, privacy, and resilience
“The most complete and feature rich procurement savings management tool that we have found. The solution enables us to transform the procurement function.”
Head of Procurement
ANV101