Strategic Cost Reduction
When one of the world’s leading pharmaceutical and health-aids companies needed to leverage and manage, their $1.2 billion spend on business services and clinical research, iServiceX provided the strategic insight.
What we did:
iServiceX designed and implemented the changes required to control spend, improve R&D effectiveness, and increase return on investment.
The firm has applied its new approach to the categories that comprise all of business services and has partnered with the Divisions that have the largest budge impact. Compliance has improved to a goal of 85% and the participation of Procurement has formulated a process to get ahead of the statement of work and contracting process to target a 24% reduction of blended rates for all Vendors.