Tech giant achieves giant savings by optimizing finance and vendor operations

Business Issue

A tech behemoth struggled to optimize finance and vendor operations and ensure the accuracy and reliability of internal data managed across several discrete systems and data warehouses. Not only did this obscure a comprehensive view of operations, it also led to frequent vendor overpayments and inefficiency. Building a cost-obsessed center of financial operations excellence was a necessity.

What We Did

Escalent started with a comprehensive and granular audit of existing vendor and finance operations workflows, vendor contracts, and client systems. We then conducted in-depth discussions with senior client stakeholders and vendor teams to establish priorities. Having established the foundation, we then began implementation.

Using the client’s own systems, we developed a comprehensive data warehouse. We set up vendor training processes with significant documentation and built systems for proprietary data and process analytics to drive timely, accurate, and actionable insights for senior finance and vendor executives. Escalent continues to operate as a dedicated team for ongoing analytics, process optimization, and critical insights.

Result

Through operational analytics, we standardized 60+ vendor and finance processes. Within three years, our cost analytics insights and recommendations helped drive over $35MM in annual savings of the company’s finance operations outsourcing budget while providing a greater understanding of operational priorities and growth plans.