Valorant follows a proven approach to help financial services firms transform their Procurement
organization and processes to maximize value from their third party supplier relationships.
In Valorant’s experience of working with financial services companies, we have observed they are often not very mature when it comes to Procurement and how they manage their suppliers.
This often results in them missing out on multi-million dollar
savings and also opens them up to multiple risks including cyber security risks and data
breaches by working with suppliers who have not been properly vetted and risk rated.
Here are some of the common pain points which we see at a lot of financial
No standard Procurement process for engaging with suppliers for contract renewals and
Not leveraging their enterprise wide spend during negotiations with suppliers
Lack of contracting & negotiating best practices which result in sub-optimal supplier
No standard process for supplier relationship management, often without any
Lack of end-to-end procurement skills including negotiating and contracting
Lack of ongoing vendor management skills post contract signature
Poor quality of information on how much is spent with each supplier
Lack of a centralized contracts database or “proactive” contract management tools
Lack of best-in-class RFP documents and contract templates
We bring the expertise, tools, templates, best practices and benchmarking information to
help transform your Procurement
function to best-in-class. This program generally delivers a 4-8X ROI and has a project
payback period of less than 6
Interested in learning more about how Valorant can help your organization strategically reduce your 3rd party spend, as well as manage vendor-related risk? Reach out to us now