CLIENT: A multi-billion dollar retailer.
The Chief Financial Officer engaged PwC Retail Consulting Services to undertake an assessment to help implement a strategic initiative to develop efficient tools to procure and pay for not-for-resale merchandise. Our team was brought on board to design and then support the implementation of a procurement card program to drive back-office cost savings and more efficient not-for-resale procurement practices.
We worked with the retailer to:
Working closely with the client team, we supported the rollout of the new procurement program. The client began realizing benefits shortly after rollout as every dollar of purchases that was migrated to the new program began to earn the retailer rebates from the card issuer. The retailer had migrated tens of millions in spend to the card within three months of the rollout.
The procurement card was a key enabler to reduce the amount of manual work in accounts payable and provided the retailer with improved information on the sources of spend so that its strategic sourcing could make more informed purchasing decisions.