Data Analysis Drives $2 Million in Potential Savings for Fortune 500 Investment Firm
A global investment management firm sought to optimize spending within its Procurement Department. The client identified the wireless governance program, which involved managing data usage, minutes, costs per line, and international calls, as a key area for potential improvement. Alderson Loop was brought in to provide expert data analysis support to identify cost-saving opportunities.
Challenges/Needs:
The client needed a detailed analysis of its Procurement Department's operations to identify areas where spending could be reduced and annual savings increased. Specifically, they required a deep dive into their wireless governance program to gain better control over costs and usage.
Solution:
Alderson Loop provided the client with a highly qualified Data Analyst who was engaged as a contractor through Alderson Loop's W2, allowing for minimal onboarding and seamless integration into the team. Alderson Loop's approach involves a thorough understanding of the client's needs and objectives, followed by the presentation of a shortlist of top-tier candidates for the client to interview and select from.
Results/Benefits:
The project was a significant success, with the Alderson Loop Data Analyst identifying substantial potential savings in two key areas: approvals and reconciliations.
Approvals: The data analyst presented a Toll-Free Feature Reduction proposal to senior managers, which, if approved, could result in $730,000 in annual savings.
Reconciliation: Analysis of reconciliation processes revealed opportunities for savings through service terminations, bulk feature removal, invoice processing improvements, and negotiations for AT&T credits, with a potential annual savings of $1.3 million.
In total, Alderson Loop's data analysis identified a potential $2 million in annual savings for the client.