Challenge: This Fortune 200 financial institution discovered numerous vendors and contractors throughout its enterprise acquired through organic growth and acquisitions. Wanting to leverage spend, the organization embarked on an aggressive sourcing initiative to consolidate the vendor base and curtail rogue spending.
Solution: The company chose ZeroChaos' vendor consolidation solution to review accounts payable records to identify spend, validate vendor quality and compliance and begin the attrition process with vendors who did not meet validation requirements. ZeroChaos did just that – discovering over $100 million in rogue spending among 80 vendors. Through its validation and consolidation initiative, we saved the company millions in fees, not to mention corporate risk.