Spend Analytics for Reserve Bank of Australia

The Reserve Bank of Australia (RBA), Australia's central bank, engaged Charles Kendall Australia (CKA) to perform an in-depth analysis of its procurement spend, and to identify areas for quick-win cost savings. CKA successfully delivered a comprehensive report on spend data across numerous categories and offered recommendations for realistic segmented cost savings.

The Challenge

Develop a comprehensive report on spend data across a broad cross-section of categories and sub-categories.
Identify and provide recommendations on segmented cost savings (quick wins, medium-term and strategic)for presentation to department heads and CFO.
Work within limitations of RBA’s decentralised procurement structure, namely its small team managing major projects and contracts.

Our Approach

Collect detailed data to determine spend levels in each category, including general ledger accounts, department budgets, invoices, purchase orders and RFxes.
Relate this data back to supplier transactions, item sourcing groups, data sets and categories.
Ensure accuracy of data, including data cleansing and cross-referencing.
Provide analysis, report and spend dashboard for each category, outlining risks, opportunities and potential improvement strategies.

Outcomes

Successfully delivered report to RBA senior leadership and CFO.
Identified 11 quick-win procurement savings estimated at several million dollars.
Identified many medium- and long-term projects to deliver savings and improved efficiency across the procurement process.
Provided actionable findings to drive organisational improvements related to procurement and the decision making thereof.