Efficio, the procurement experts backed by Livingbridge, have been shortlisted in the Best Procurement Consultancy Project and International Procurement Project categories at the CIPS Supply Management Awards 2017.
Best Procurement Consultancy Project
Efficio worked with KNect 365, a division of business intelligence company Informa, to identify immediate and significant savings opportunities and build a best-in-class procurement function from scratch to ensure savings were delivered and sustained. The new procurement team was self-sufficient in just six months and results exceeded expectations, with £5.8m of annualised savings signed off – almost 50% ahead of forecast and a return on KNect 365’s investment of more than 3.8 (more than double the original forecast).
International Procurement Project
The government of Saudi Arabia engaged Efficio to design procurement laws and processes that encourage the long-term economic development of Saudi companies. It also requested a complex model of the country’s economy to forecast benefits for Saudi employment and GDP. Following six months of extensive research, Efficio designed a five-year local content transformation programme based on its findings. Its recommendations have the potential to act as a major boost to the country’s long-term economic development and significantly improve job opportunities for Saudi nationals.
Jens Pedersen, CEO of Efficio, said: “The CIPS awards are considered to be the benchmark for exceptional performance in the procurement and supply chain industry. To be shortlisted in two heavyweight categories is a significant achievement in itself and one of which we are extremely proud.”
The winners will be announced at the CIPS Supply Management Awards Night at Grosvenor House, London on 13th September 2017.
This article was originally published by Efficio, 13th June 2017.