Optimization of costs: Vereinigte Volksbank Münster eG
Balance sheet total: approx. 2.0 billion euros
Branches: 30
Employees: 492
Customers: 121,900
Vereinigte Volksbank Münster was created 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 assumes social responsibility towards its employees and the entire region. For example, Vereinigte Volksbank Münster sponsors local sport and regional events and promotes regional culture. All activities are characterized by the mission statement of Vereinigte Volksbank Münster: "With our customers to success".
Starting point:
The objectives of the procurement cost optimization project were to identify and implement potential savings and to streamline and simplify processes by bundling suppliers/requirements. Overall, all material expenses were analyzed, with a particular focus on electricity purchasing, building cleaning, office supplies and cash transports.
Challenges in the project:
The challenge at the start of the project was the lack of evaluation systems, which meant that all data had to be collected at great expense. In addition, the local ties of Vereinigte Volksbank Münster and the bilateral relationship with some suppliers, who are also customers, had to be taken into account for all topics. External service providers from the Association of Volksbanks, which also have cooperative structures, posed additional restrictions with regard to the suppliers that could generally be considered.
Target achievement:
The monetary project objective was achieved by 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 the requirements in both areas were bundled with an already known actual service provider, there was no changeover risk(s). The bundling of suppliers in other areas also led to simplified processes and reduced costs.
Conclusion:
Although there was general skepticism at Vereinigte Volksbank Münster at the start of the project about the achievability of the predicted potential, a constructive and trusting collaboration was quickly established thanks to a transparent working method and the intensive involvement of employees from the individual departments. This ultimately led to the expectations of the project being fulfilled.
