29 April 2008 | Jake Kanter
Financial consultancy Lane Clark & Peacock (LCP) is to introduce e-procurement to offer more options to clients and reduce costs.
LCP, which specialises in sourcing insurance policies for organisations' pension schemes, will implement the system to offer clients a more competitive range of services. It hopes by combining e-auctions with blind bidding and face-to-face negotiation customers can chose a tendering process to suit them.
Nick Curry, partner at LCP, told supplymanagement.com: "We want to make sure we meet client demand. Some organisations like the transparent process of the e-auction because it shows we haven't favoured anyone and it is completely fair. No one can say they got the deal because they offered us a holiday to Barbados!"
He added many clients demand this audit trail among bidders and for smaller transactions it can prove to be more cost effective than other sourcing techniques. He said fees can often build up simply by consultants phoning around vendors.
E-procurement firm Ariba will provide the system. A spokeswoman for the firm declined to comment on how much the contract was worth or its duration.