Efficio drives efficient sourcing activities at Permanent TSB
Simon Whatson , Vice President at Efficio , reflects on the company ’ s partnership with Permanent TSB to drive efficiency in its sourcing activity
As the world ’ s largest specialist procurement and supply chain consultancy , Efficio was founded in 2000 and has since grown into a global organisation , with 650 + procurement professionals operating in 13 locations worldwide .
Having worked at Efficio for seven years , Whatson leads the work that the company does with Irish bank , Permanent TSB .
“ Efficio started working with Permanent TSB about two years ago . Our engagement started with an opportunity analysis . After that , we ran three waves of sourcing activity on specific spend areas to help Permanent TSB achieve the savings it needed ,” explains Whatson .
“ We have been firmly embedded into Permanent TSB ’ s procurement team , working alongside and in collaboration with the business to source spend that had either been previously addressed without having achieved full value , or had not been addressed at all over the last few months ,” he adds .
“ We have also embarked on a ‘ sourcing-asa-service ’ relationship , where we are helping to drive efficiency throughout its sourcing through our digital platform , eFlow .”
Future plans for Permanent TSB and Efficio
As their partnership expands , Efficio will continue to refine its ‘ sourcing-as-a-service ’ model to become even more efficient when it comes to strategic sourcing requirements . “ I believe that the future partnership between Efficio and Permanent TSB will become more and more embedded ,” says Whatson .
“ Efficio and the eFlow platform will also become more deeply embedded in the way Permanent TSB does procurement . And what that brings to Permanent TSB is an extremely efficient engine of servicing procurement requirements ,” he continues . “ Where previously these mid- to low-complexity sourcing requirements would take up all of the procurement team ’ s time , now they are largely automated and streamlined through the service that we provide .
“ This automation also means the team can focus on more complex and strategic sourcing initiatives with our consultants . It removes a lot of noise and allows Permanent TSB to service those more complex sourcing requirements , which , of course , is where the biggest value is going to be .”