Wax News Archive
Top marks in cost reduction for Durham University using Wax Digital eSourcing software
Durham University has made savings in excess of £400,000 on its annual facilities management and uniform contract costs (56% and 28% annual cost reduction respectively) by using Wax Digital's e-Sourcing solution to drive down the cost of supplies across the university.
The team at Wax Digital helped build the specification, set the terms of engagement, and ran a series of eAuction events with suppliers bidding against one another in real-time to provide facilities management services and uniforms" said Durham University.
"We conducted a series of auctions constructed in such a way as to drive best value from both higher and lower spend areas within the university - and with highly successful results."
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 The events cost just a few thousand pounds to run, yet generated an annual saving of over £400,000. Durham University
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In light of recent announcements by the Government to cut higher education budgets by up to £398 million in 2010-11, this method for cost reduction is timely and puts Durham University ahead in terms of assessing and reducing costs across the organisation.
"We're exceptionally pleased with the outcome of the auctions undertaken with the university," said Daniel Ball, director, Wax Digital.
"Collaboration with our highly experienced sourcing consultancy team, providing on-site support and training to the university's procurement team, ensured that we delivered excellent savings in both categories of spend."
Wax Digital has considerable experience in delivering big savings across all the main areas of spend in the higher education market place - such as IT (10-40%), office furniture (10-45%), catering (5-35%) and Stationery including paper and IT consumables (15-45%).
Durham University is now equipped with the technology, training and techniques to hold as many eAuction events as is necessary in 2010 to drive down costs for the university and make significant savings.
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