To deliver the consistent quality service our clients demand, we need a sound global infrastructure with reliable IT, effective business support functions and clear leadership. At the same time, we are facing pressure to reduce costs and to be more agile in the face of rapidly changing markets.Â
Better managed sourcing
Our recently established shared services and off-shoring function is developing a co-ordinated sourcing strategy. This will involve using both onshore and offshore facilities. Sourcing the right mix of suppliers and managing them effectively will help us deliver leading-edge services to our clients, while reducing costs and increasing our flexibility.
A responsible supply chain
We operate a number of non-financial criteria, when procuring goods and services, to assess our suppliers’ policies on environment, diversity and risk management before awarding them business. These criteria are weighted according to the nature of the goods or services in question. For example, in relation to a tender for cleaning services, we assign a higher weighting to the pay and conditions of those working for the supplier (people-related issues), while for paper suppliers environmental issues are given a higher weighting in decisions. In addition, the UK operations team has adopted an enhanced sustainable supply chain policy this year.
Promoting supply chain diversity
Together with our clients Credit Suisse, Citibank and UBS, we work closely with two organisations who promote diversity in business, Minority Supplier Development UK (MSDUK) and the East London Business Alliance (ELBA). MSDUK is a not-for-profit organisation that provides a direct link between its corporate members and ethnic minority businesses. ELBA aims to bring together businesses with local people in East London. We advise both on the development of their databases and how they can improve access for us, and other large City institutions who use these databases, to find suppliers representing the diversity of our local communities. Our New York office is also working to promote supply chain diversity, sourcing suppliers from different ethnic and minority communities.
