Efficio

50-know-2019-web50-know-2017-web50-know-2016-web
12 E 49th Street, 11th Floor | New York, NY | 10017 United States
info@efficioconsulting.com
+1 646 859 1535
Provides solutions and/or services in the following categories:

Efficio is the world’s largest procurement consultancy, operating across ten offices in Europe, North America and the Middle East.

We help organisations reduce costs, improve internal processes and upskill their procurement teams so that they can realise cost savings faster. We aim to ensure savings are measurable and sustainable – delivering greater value for your business over the longer term.

Our key differentiator is eFlow, a proprietary procurement technology and knowledge platform built and deployed by practitioners. eFlow automates data insight generation, supports savings delivery, facilitates strong supplier partnerships and manages supply chain risk by enabling our clients to leverage a wealth of procurement intelligence and best practice on demand.

This data and knowledge has been accumulated by our consultants through nearly two decades of work with hundreds of large and mid-sized global organisations and billions of dollars of addressed spend. We draw on this extraordinary pool of knowledge and content to benchmark and ultimately transform your organisation’s procurement capabilities.

We aim to make procurement functions twice as effective, enabling them to deliver more with their own teams and become high-value generating functions for their businesses.

The results are greater cost savings delivered faster and more sustainably, allowing your organisation to operate more efficiently

Spend Analytics from Efficio - Procurement Consultants Branch Out

Efficio, the procurement consulting firm, announced a strategically significant move last week with the launch of their Spend Analytics software product, “the first product in a suite of custom procurement modules that make up the proprietary technology platform eFlow”. The firm, which has grown to around 250 people now, has been a fairly traditional consulting firm covering cost reduction, category management, procurement strategy and change management. But this takes them into a somewhat different space. We spoke to James Jenkinson, VP at Efficio, to get some further insight into this development. He explained that the analytics product is the first of five modules which will form the overall platform. The others will be launched "over the next six months or so" and will include category planning, sourcing, supplier lifecycle management (including contract management) and performance management - savings realisation and supplier performance against contract. Is there any intent to move into the P2P transactional management field, we wondered? No, Jenkinson says, although the performance management module does pick up line level detail from the client’s P2P system in order to track actual performance and pricing against the contract. But why has Efficio taken this step - might it be a distraction from the core and very successful consulting business? "Our consultants work with different spend analytics platform - I guess as consultants we are often using analytics in a pretty sophisticated way compared to many users, so sometimes functionality has been an issue for us with existing products.” “We have also built a good number of bespoke applications in this and other areas as we look to solve problems for clients. So this seemed like a natural development”. The economics of this also make sense for the firm, according to Jenkinson. “We have also found that the cost can be prohibitive with certain analytics platforms when we want to make what seem like fairly small changes - to a dashboard perhaps. We felt that we understood what we wanted, and we need to be able to do things quickly to satisfy clients, so ultimately we decided it was better to build the solution ourselves ". The first stage is to use these products in Efficio’s own consulting assignments - that was the driver really. “But we do then expect that some of our clients may want to continue using the products after our consulting assignment is completed". But what about the next stage after that - providing the software as a stand-alone product and line of business perhaps - is that the natural development? "That's not really our aim. We have ten clients signed up to use the analytics platform already - including Informa Group (U.K.), ICBPI (Italy), Accudyne Industries (U.S.) and Fujitsu (global). A major driver of this is to give us an advantage in the consulting business, and to help our consulting clients, so we don't intend at the moment setting up a separate software division or sales team solely to push those software products”. An interesting step then – and another sign of a development we have seen for a year or two now, with solutions providers wanting to offer a combination of services, including consulting outsourcing, managed services - and software to clients (see previous comments on GEP, Accenture, Xchanging amongst others). Genuine “solutions” in the truest sense, you might say, and we suspect this trend will continue into 2016 too.
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