Global Network Procurement for Multinational Investment Bank
In a highly competitive corporate world, where digital transformation is a must rather than a want, connectivity services is becoming increasingly important as a key digitalisation driver.
Our client, one of the largest independent financial advisory firms in the world, sought support and expertise from Wavestone upon the expiration of their existing WAN & MAN network contract in order to procure a new, managed network partnership. The strategic objectives of the procurement included modernising their existing network estate in order to integrate Cloud-delivered services and to enable on-demand changes in a more flexible, agile environment.
The Challenge
Our client had experienced several issues with their existing network provider regarding service management and commercial transparency, and therefore sought a new partner to improve the service.
Wavestone identified objectives that the new managed network partnership should deliver:
- Improve ability for the network to quickly adapt to business demand.
- Securely leverage inexpensive (Public/Internet) services where possible to optimise costs.
- Capitalise on recent technology improvements and infrastructure advancements to deliver more reliable and efficient data connectivity services.
- Add value to the network services whilst maintaining the current baseline OPEX spend.
How did Wavestone help?
Wavestone led the entire network procurement, from strategy definition through contract negotiations and finalisation. This ensured the objectives were met and the most suitable managed network service partner and technology were selected by the client.
First, through requirement capturing and data collection workshops, Wavestone gained a comprehensive understanding regarding the current network environment, future business needs and challenges the client faced. Wavestone used this information along with their industry expertise to develop the best-suited procurement strategy.
After the strategy was defined, Wavestone produced RFP documents and the tender was launched to the most relevant suppliers in the marketplace. During this stage, Wavestone developed the evaluation methodology and the cost model to compare suppliers against the business requirements while achieving the best commercial deal possible. Subsequently, suppliers were evaluated based on client-specific criteria and given feedback for improvements in their Best and Final Offers. At the end of the evaluation stage, a single, preferred supplier was down-selected for final contract negotiations.
In the final stage, Wavestone supported the client in drafting the contract and lead the contract negotiations, ensuring that the client sourced the best possible solution in the market for their business needs.
The Team
Wavestone supported the client with four consultants specialised in Smart Networks. The team was in close contact with client stakeholders throughout the entire process and helped them to achieve the business objectives they have desired. The team not only helped the client identify the target state of their network, but also leveraged their collective 40+ years of industry expertise to ensure the new solution is future proofed.
The transparent approach Wavestone followed allowed them to gain the client’s trust from day one, and the positive impact created in the client’s organisation was well-appreciated.
The Results
The client has now obtained a secure, highly resilient, next generation network with improved reporting and monitoring capabilities. Expensive CAPEX costs from client’s balance sheet have been eliminated and transitioned to a more manageable and predictable OPEX model. Overall, a saving of 30% is projected over 3-year TCO with approximately 300% port speed increase in WAN, MAN and Internet connectivity services. With Wavestone’s support, the client was able to achieve their objective with a future-proofed, more flexible managed network contract.
