City of London Corporation creates shared service centre for procurement & P2P

The City of London Corporation is creating a world-class procurement shared service centre and aims to save £30m in the next five years.

To deliver the project, the City of London has signed a five-year contract with Accenture. Demonstrating its commitment to the success of the project, Accenture has tied a proportion of its fees directly to the savings it achieves. The first phase of the programme will focus on transforming the City's procurement operations.

A new central City of London Procurement Service will undertake all procurement and procure-to-pay functions. The City of London will also deploy an e-marketplace and buyer portal to help departments in requisitioning and using the new service.