Procurement Consulting Services

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PROCUREMENT SOLUTIONS FOR THE FINANCIAL SERVICES
INDUSTRY
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PROCUREMENT

• Valorant was founded on the belief that an
  effective Procurement strategy can enable an
  organization to achieve its most ambitious and
  strategic goals. Today, our team of experienced
  and energetic consultants are designing and
  implementing Procurement solutions that enable
  financial services and insurance firms maximize
  value, reduce risk and fuel innovation with their
  third-party suppliers to realize enterprise-wide
  strategic goals

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SUPPLIER COST REDUCTION

• Valorant has successfully helped financial
  services companies optimize their third party
  vendor spend to achieve savings of 10. Assuming
  a financial services company spends 200M - 300M
  with third party suppliers every year, this
  translates to 20M - 30M in annualized savings.
• The engagement begins by understanding the
  clients cost optimization objectives targets.
  Valorant then collects 1-2 years of third-party
  spend data, cleans it and organizes it into our
  proprietary taxonomy for financial services
  specific spend, to get it ready for analysis.

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PROCUREMENT TRANSFORMATION

• In Valorants experience of working with
  financial services companies, we have observed
  they are often not very mature when it comes to
  Procurement and how they manage their suppliers.
  This often results in them missing out on
  multi-million dollar savings and also opens them
  up to multiple risks including cyber security
  risks and data breaches by working with suppliers
  who have not been properly vetted and risk rated.

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THIRD PARTY RISK MANAGEMENT

• In the last few years, the news has been filled
  with instances of cyber attacks and security
  breaches, regulatory fines, legal actions against
  top-level executives and reputational damage
  caused by third-party data breaches. These have
  become board level issues for every single
  Financial Services firm. The C-Suite has a
  growing concern for ensuring that all third
  parties have been properly vetted and they are
  ultimately accountable to ensure that there are
  no vulnerabilities with their supply base

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SPEND ANALYSIS

• Traditionally viewed solely as a driver of cost
  savings, procurement is now capable of delivering
  strategic value for an organization. And, the
  first step in enabling these benefits is to gain
  comprehensive visibility into costs with 3rd
  party suppliers, through a spend analysis
  exercise. Spend analysis enables getting a
  holistic view of the spend across business
  channels which helps us to negotiate better with
  vendors, reducing siloed philosophy

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SUPPLIER RELATIONSHIP MANAGEMENT

• SUPPLIER RELATIONSHIP MANAGEMENT (SRM) PROVIDES
  THE FOLLOWING BENEFITS FOR AN ORGANIZATION
• Driving Contract Compliance
• Aligning Suppliers with Business Goals
• Managing Risk within the Supplier Base
• Fostering Collaboration

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CONTRACT MANAGEMENT

• Suboptimal contract terms and conditions combined
  with lack of effective contract management can
  lead to erosion of multi-million dollars every
  year. This is the money which could be reinvested
  back into the business to fuel growth or else
  banked to help improve efficiency or expense
  ratio.

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ZERO-BASED BUDGETING

• Zero-based budgeting (ZBB) is gaining traction
  and has the attention of investors, boards of
  directors, and corporate executives across
  industries as it continues to deliver results.
  BFSI (Banking, Financial Service and Insurance)
  industry which remains burdened by cost
  pressures, has been largely skeptical when it
  comes to adopting this revolutionizing
  methodology. Valorant can help these companies to
  transition successfully from a traditional
  budgeting approach to ZBB to realize its benefits.

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• VALORANT PROCUREMENT SERVICE CONSULTANT