IT Cost Optimisation (UK Insurance & Investments)

Client Challenge

The Client requested that TORI review their existing Software Asset Management (SAM) renewals process. 11 prioritised suppliers had initially been identified by the Head of Service Improvement. In support of the overall objective to reduce costs, TORI were engaged to:

  • Identify cost savings of 10-15% of the IT cost base
  • Simplify the vendor landscape and underlying Software Asset Management (SAM) Renewal processes and Operating model

What we did

  • Undertook vendor renewals and high-level contract reviews
  • Identified duplication of Vendor Services
  • Made recommendations for Key Vendor Contract and Service Reviews for Salesforce, Microsoft and ServiceNow
  • Conducted process reviews, which identified transformation and project cost savings
  • Conducted meetings and reviewed relevant documentation with the SAM and Procurement teams
  • Reviewed and defined an approach for an IT Asset Management (ITAM) & BAU TOM with a high-level implementation roadmap
  • Reviewed and defined an approach to implement a Total Cost of Ownership (TCO) operating model and identification of potential first-pass cost reduction opportunities

Outcomes & Results

  • TORI highlighted and provided recommendations on the current operating models (particularly for SAM processes) and highlighted potential savings of £500k
  • Upon completion of an in-depth review of suppliers to validate the cost reduction measures and overall strategy, TORI identified further savings of £1.38M to be realised over a 12-month period
  • TORI provided recommendations on how the efficiency of the organisation can be significantly enhanced by implementing the appropriate Operating Model, Process, People and tooling within ITAM and also within key business functions
  • TORI created an implementation roadmap (initial execution plan)
Top