A fintech payments company undergoing a carve-out from its parent company faced the daunting task of establishing an indirect procurement team from scratch. The company was operating under a tight timeline due to a transition service agreement (TSA), which required them to quickly assume control of thousands of procurement contracts.
With no existing system of record or established processes, our client urgently needed seasoned professionals who could immediately start managing a wide range of contracts, from professional services to technology.
01.
Hitting the Ground Running
RGP stepped in to provide 15 procurement experts with experience managing all phases of the contract lifecycle. Our team was able to tackle contracts in various stages—whether active, under renegotiation, or requiring transfer.
Our “white-glove” approach allowed our client to quickly select the top candidates. And they were able to hit the ground running without the need for extensive onboarding—which was critical given the time constraints.
02.
Rapid Mobilization to Reduce Contract Volume
RGP team closed thousands of contracts in only a matter of weeks, reducing the number of procurement contracts from thousands to a more manageable number. This allowed our client to focus on strategic growth rather than being bogged down by the administrative burden of contract management.
“RGP has proven to be a solid partner in both account management and providing seasoned resources in a highly ambiguous environment new procurement function in record time as part of a major fintech divestiture.”
– Senior Director, Strategic Sourcing
03.
Paying It Forward Through Strategic Cost Savings
This rapid progress not only kept the project on track but also allowed our client to transition into the next phase of strategic cost savings earlier than expected. All major deliverables were completed within the TSA timeframe, allowing our client to quickly move on to success as a separate company. The team is now focusing on renegotiating contracts to achieve better pricing, which will further benefit the company’s bottom line.
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