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Driving £3M Savings Through Strategic Procurement for SilverTree Equity
Background
SilverTree Equity is a London-based private equity firm specialising in software, technology, and tech-enabled businesses. To enhance operational efficiency across its diverse portfolio, SilverTree implemented a strategic procurement initiative. This effort streamlined procurement processes, secured optimal supplier contracts, and achieved significant cost savings, all while maintaining the agility essential in a competitive market.
The Challenge
SilverTree engaged with Cedar to find a procurement expert who could deliver immediate impact across its portfolio. Key challenges included:
- Specialised Expertise: SilverTree required procurement professionals with deep knowledge across multiple industries and a strong understanding of the PE model.
- Competitive Market: The demand for high-calibre procurement specialists in the market was exceptionally high.
- Tight Timelines: Immediate onboarding was necessary to achieve cost-saving objectives and operational efficiencies within strict deadlines.
The Solution
Cedar implemented a comprehensive recruitment strategy:
- Industry Mapping: Utilised our extensive network to identify high-calibre procurement specialists with relevant expertise.
- Rigorous Screening: Conducted a thorough process to ensure alignment with SilverTree’s operational goals.
- Efficient Delivery: Delivered a shortlist of top-tier candidates within days, facilitating expedited interviews and swift onboarding to meet project deadlines.
The Results
Cedar successfully placed a highly skilled procurement consultant who started within a week of Cedar identifying the challenge and proposing solutions. The consultant delivered measurable results, including:
- Achieved significant cost savings across multiple portfolio companies in excess of £3m in year 1.
- Enhanced supplier relationships, leading to improved contract terms.
- Streamlined procurement operations, resulting in increased efficiency.
SilverTree reported substantial improvements in operational performance and cost management, attributing these successes to Cedar’s strategic recruitment efforts.
