Property management is a hasty world, where innovation and efficiency are key to stay ahead of the curve. Leaders Romans Group (LRG) recognized this and so embarked on a three-year plan to modernize their procurement processes.
LRG needed a robust enough solution to support their 200 branches and thousands of local experts in real estate planning and architecture, with supplier onboarding, supplier base management, and efficiently handling their ever-evolving contract portfolio. What follows is their story of transformation and success with Scanmarket.
The Challenge
LRG’s journey toward digital transformation began with a few pains and challenges, as their manual procurement processes were cumbersome and time-consuming, hindering down productivity and growth. They identified three critical challenges
- Simplifying Supplier Onboarding – The process of onboarding new suppliers was all done manually, leading to administrative bottlenecks and several delays.
- Managing an Extensive Supplier Base – LRG’s vast supplier network needed effective management to ensure compliance and reduce risks.
- Contract Portfolio Management – Managing a large number of contracts was a highly complex task, often leading to missed renewals or negotiations, causing potential financial losses.
The Solution
To address these challenges, LRG implemented Scanmarket’s Contract Management and Supply Base Management solutions. The impact was immediate and transformative:
- Enhanced Transparency – The adoption of these solutions improved transparency between the procurement and finance teams, leading to better collaboration and strategic workload distribution.
- Centralized Contract Repository – LRG’s contract library was organized in a central repository with real-time updates, enhancing visibility and streamlining negotiations while maintaining information control.
- Alert System – The alert system ensured timely action on contract renewals or negotiations, helping LRG realize cost savings.
Results
The collaboration between LRG and Scanmarket’s Customer Success teams resulted in a tailored, turnkey solution designed for maximum impact. Following a six-week design phase and user feedback during testing, the solution was launched. With a simple training session, majority user adoption was achieved.
Within just six months of using Scanmarket’s solutions, LRG saw significant benefits, including increased compliance and well-defined process directing procurement related matters. The return on investment was evident, as Tim Elliott, Group Head Procurement, noted, “Scanmarket has been a really good initiative and has added a huge amount of value already”, you can watch his full testimonial: right here.
But Why Scanmarket?
Scanmarket stood out as the ideal partner for LRG due to several key factors:
- Supplier Self-Onboarding – The ability for suppliers to onboard themselves simplified the process, reducing administrative burden and improving compliance.
- Centralized Repository –Managing contracts and spend data in one central location provided better control over spending.
- User Friendly Platform – Scanmarket’s intuitive platform encouraged rapid user adoption with minimal training.
- Demonstrable ROI - The software’s value-based approach offered a clear return on investment, aligning with LRG’s goals.
By forming a partnership with Scanmarket, LRG executed their digitalization plan successfully. With Scanmarket’s S2C solution in place and running smoothly, LRG is well on its way to achieving its three-years goals, ensuring they remain a leader in property management in the UK.
If this blog post has piqued your interest, you can delve into the complete LRG Customer Case by clicking here.
