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Managing the COVID-19 crisis with Procurement

Learn how Procurement can help financial services companies manage the coronavirus pandemic and mitigate its economic impacts to promote a strong recovery

PROCUREMENT CONSULTING FOR THE FINANCIAL SERVICES INDUSTRY

MAXIMIZE VALUE | REDUCE RISK | FUEL INNOVATION

Managing the COVID-19 crisis with Procurement

Learn how Procurement can help financial services companies manage the coronavirus pandemic and mitigate its economic impacts to promote a strong recovery

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Industry Experience

Banks

Insurance
carriers

Asset Management
Companies

Credit Unions

Payment
Technology Firms

Other Financial
Services

Industry Insights and CAse studies

HOW PROCUREMENT CAN HELP INSURANCE CARRIERS IMPROVE THEIR EXPENSE RATIO AND REDUCE RISK

Insurance carriers are missing out on multi-million-dollar savings due to having sub-optimal Procurement processes in place. Valorant’s end-to-end procurement services can help insurance carriers transform their organization, enabling a 10 – 15% reduction in third-party spend and 1 – 3% improvement in expense ratio.

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LEADING FINANCIAL SERVICES COMPANY TRANSFORMS END-TO-END PROCUREMENT OPERATIONS, SAVES $17MM WITH VALORANT

As competition heightens and the regulatory environment becomes more complex, financial services companies are facing a downward pressure on their margins. Valorant helped a leading Financial Services company drive $17MM in savings, enabling them to successfully navigate key developments in the industry and stay ahead of competition.

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PROCUREMENT 2.0 IN INSURANCE: FROM A BACK OFFICE FUNCTION TO A STRATEGIC VALUE CREATOR

Valorant helps financial services companies fundamentally transform their procurement department from a back-office function to a key enabler of corporate strategy. Through a combination of people, process and tools, Valorant’s best-in-class methodology empowers procurement to deliver top-line benefits.

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IMPORTANCE OF EFFECTIVE THIRD PARTY RISK MANAGEMENT FOR THE FINANCIAL SERVICES INDUSTRY

In 2018, instances of cyber-attacks, security breaches and data privacy concerns have caused US financial services firms to incur fines and losses of more than $23Bn. Valorant’s services helps companies identify and mitigate a multitude of third-party risks, enabling them to avoid large fines as well as keep their reputation intact.

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