14.5 % Savings in Telecommunications

In Financial Services

Client

The Client is the leading Bank in Greece and a key player in the Financial Sector. The Bank provides a complete range of banking services and specializes in SMEs, retail banking, e banking and capital markets.
IndustryBanking & FinanceServicesExpense ReductionCategoryTelecommunications – Bulk SMS/Viber
The Result
14,5 %
Savings Rate
Total Annual Spend:
€5,300,000
Total Annual Savings:
€740,000
VERALLIS involvement brought in, additional 1 Million € in Savings, with the base of comparison being a recent RFP carried out by the Client.
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  •  Individual Actions Taken:
The Client in order to restructure and minimize the related costs performed -with VERALLIS’ support- a series of actions. Those included, a Request for Proposal (RFP) run by the Organization, which was ultimately used as the Reference Point for Savings achieved, as well as shaping a Demand Management strategy. As a result, the Client would now spend less than 3,7 million € for 170 million messages sent. Ultimately, the occurred benefit, translating into 900.000 € in savings, came from demand management and more specifically by implementing technical actions (switch to Viber for certain messages), as the Tender filed, did not result in price decreases.
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  •  VERALLIS Involvement:
VERALLIS’ plan of action and additional efforts consisted of a detailed analysis and thorough evaluation of the demand for Bulk messages, in addition to restructuring the existing pricing along with a specialized request from the Telecoms providers, thus securing additional pricing improvement for the Client. VERALLIS also suggested a series of specific requirements/ strategy to be included during the RFP negotiations as well as implementing a thorough Demand Management Analysis at all levels. This resulted in additional 1.000.000 € in savings, achieved by VERALLIS, with the Client now spending 3.3 million € for 162 million messages sent.
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The Challenge

1

Cost reduction remains a top-priority for executives with a focus on sustainability, which coupled with shaping an effective cost structure presents a top internal challenge for most organizations worldwide. The ongoing economic hardships calls for a flexible action plan, in order to remain competitive and profitable. With that in mind, our Client opted for the minimization of their Telecommunications Expenses. The main area, of the overall Telecoms Expenses that called for optimization were the costs related to the Bulk messaging towards the Organization’s customers.The two (2) channels used were the following:

  • SMS Messaging
  • Viber Messaging

The Method

2

The process followed, to achieve cost reduction in the Clients Telecoms expenses included two distinguished scopes:

  • The Client’s Individual Actions with VERALLIS’ guidance
  • VERALLIS Involvement, bringing significant added value to the Clients individual actions

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