Title

Transforming Procurement into a strategic value driver at a major bank

Section
Case study
Summary

Following a high-profile merger between two major financial institutions in the Middle East, the newly formed bank set out an ambitious vision: to become the most profitable and innovative bank in the region, leading in customer satisfaction, digitalization, and ESG. To support this vision, the Procurement function needed a fundamental repositioning. 

The starting point was addressing the perception of Procurement as a process-focused bottleneck rather than the strategic value creator it aimed to be. The operating model required a strategic refresh, with a clearer direction, streamlined policies, and KPIs realigned to prioritize business value over risk.

To support this strategy, Efficio was engaged to deliver a procurement transformation program underpinned by three strategic pillars:  

  1. Procurement excellence: Best-in-class execution  
  2. Value creation: Maximizing value across cost, quality, speed, ESG, and Local Content  
  3. Customer-centricity: Strong stakeholder relationships through advisory and seamless end-user experiences  

 

Results 

The program repositioned Procurement as a core enabler of the bank's strategic priorities. Key outcomes include: