With Banner this high street bank saved £6.9 million

Brief

With Banner you can make huge savings. We helped a leading high street bank to reduce its office consumables spend by 46%, after it awarded us a contract, that was initially worth £15 million per year.

Our relationship with the bank enabled us to work in partnership to reduce this office supplies spend to just £8.1 million, without any loss of office staff.

The saving of £6.9 million, a reduction of 46%, was just one major cost saving we enabled for our banking customer.

 Solution

We worked with the bank to control its stock levels and reduce liability. In partnership with the product owners at the bank, Banner’s dedicated account management team helped to ensure that appropriate stock levels were maintained and demand was effectively controlled.

By doing this, we enabled the bank to reduce its stock liability from the initial transfer of £750,000, to an average of £240,000.

With Banner you can achieve on-going spending controls. Working with us, the bank introduced a series of initiatives, ranging from branch order management to product source reviews. These generated a further £700,000 of savings and cost avoidance in just one year.

We partnered with the bank when it introduced a new electronic ordering platform, helping it to improve the ordering process and make further savings on office supplies.

We helped the bank’s end users to move away from manual processes by working with the branch network and the bank’s IT department to deliver a system for 1,750 branches.

Delivering much improved cost and ordering controls, this teamwork helped to achieve a saving of over £1 million, including a £750,000 reduction in office supplies and a £250,000 saving on printed stationery.

Working with Banner enabled the bank to completely review its core list, evaluate ordering patterns and focus on best value products.

Together we developed a new system that automatically switches an order for a non-preferred item to an agreed best value alternative.

Customers trust Banner because we continually demonstrate how to make savings. We work proactively with our customers to cut unnecessary costs and we always deliver exceptional quality.

Result

• Stock holding liability reduced by £510,000
• £474,592 saved through management of bespoke stock
• £1 million saved using electronic trading and spending control
• A demand management and rationalisation saving of £1.4 million
• £700,000 saved through review of branch network consumables