Banking, Financial Services & Insurance
The adoption of new digital technologies in the financial services sector is fueling fierce competition, prompting changes to both internal infrastructure and consumer delivery models.
Making car loans more affordable means selling more cars. It’s with that simple philosophy that Avasant was charged with a cost reduction engagement for an automotive financial lender whose services span 30 countries and support 5.4 million customers. We developed a comprehensive, organization-wide strategy for vendor governance and improved license management. Our recommendations focused on cost-reducing methods to maintain more efficient operations across thousands of their licensed applications and third party contracts. With over $54 M in license fees and $12 M in annual maintenance spend, we provided a roadmap for our client to achieve more than 10% in savings.