Cost Optimisation: Vereinigte Volksbank Münster eG
Total assets Approx. €2 billion
Branches 30
Staff 492
Customers 121.900
Vereinigte Volksbank Münster was formed in 2014 through the merger of the financial institutions „Vereinigte Volksbank eG, Telgte“ and „Volksbank Münster eG“. The aim of the new bank is to offer customers the best possible service and individually tailored financial products. As a cooperative credit institution, Vereinigte Volksbank Münster accepts social responsibility towards its employees and the entire region. For example, Vereinigte Volksbank Münster acts as a sponsor of local sports and regional events, and promotes regional culture. All activities are characterised by the mission statement of Vereinigte Volksbank Münster: „Success with our customers“.
Starting point
The objectives of the procurement cost optimisation project were to identify and implement savings potential, and to streamline and simplify processes by consolidating suppliers and requirements. Overall, all material expenses were analysed, with a particular focus on the topics of electricity purchasing, building cleaning, office supplies, and cash transport.
Project challenges:
The initial challenges at the project's outset were the lack of evaluation systems, meaning all data had to be meticulously recorded manually. Furthermore, it was necessary to consider the local commitment of the Vereinigte Volksbank Münster and the bilateral relationships with certain suppliers who were also customers across all topics. External service providers from the cooperative banking sector, with similarly cooperative structures, imposed additional restrictions regarding the generally eligible suppliers.
Goal achievement
The monetary project objective was achieved at the end of the project. Significant savings were achieved and secured in the long term, particularly in the areas of electricity and building cleaning. As demand in both areas was consolidated with an already known actual service provider, there was no transition risk or effort. Consolidating suppliers for other topics also led to simplified processes with reduced costs.
Conclusion:
Although there was initial scepticism at the Vereinigte Volksbank Münster at the start of the project regarding the attainability of the projected potential, a transparent working method and the intensive involvement of employees from the individual specialist departments quickly fostered a constructive and trusting collaboration. This ultimately led to the project's expectations being met.
