Since early Spring 2021, Cordie has been working closely with one of its financial services clients to develop a world class set of customised sourcing tools and templates.
The Sourcing Playbook was developed around the customer’s bespoke 7-stage sourcing process that takes cross-functional teams through a set of data research, analysis and strategy development sequences before executing and delivering the business benefits.
Each sourcing stage comprised a set of best practice activities, which could be scaled according to the complexity, value and operational risks of each sourcing project. The client (a European multi-national insurance company) operates in a tightly regulated market where regulatory risks, due diligence and customer protection need to be built into all third party agreements and sourcing arrangements. The Sourcing Playbook featured these considerations throughout the seven stages and provided for a number of mandatory activities and outputs. As well as tools, the Sourcing Playbook also featured a set of unique easy-to-use templates for managers to adopt and standardise their approaches to sourcing and therefore deliver tangible value throughout the company.
Cordie Director Ian Thompson commented: “We are all delighted with the final Sourcing Playbook product. Working closely with the client has been a real joy and we can see how this professional and practical toolkit will deliver a quantum leap in sourcing capabilities across the organisation.”
To find out more about how Cordie can help develop your own organisation’s sourcing processes, please get in touch!