Lodders Solicitors is a law firm built around outstanding legal advice and exceptional service to regional, national, and international private clients. It is headquartered in Stratford-on-Avon and has offices in Henley-in-Arden, Cheltenham, and Birmingham.
Lodders has 27 partners and 165 staff members across these four locations. From business owners through to wealthy families, landowners, farmers and successful individuals, clients choose Lodders for its renowned technical expertise and friendly partner-led service.
Lodders Solicitors LLP were introduced to KnowledgeBus through Mercato’s procurement specialist team after experiencing difficulties with their IT Procurement. Lodders regularly order laptops, monitors and other peripherals, but were experiencing inconsistent pricing in their quotations, and it appeared that a consistent charge of cost plus 3% margin (industry standard) was not being applied.
As a result, the team were spending valuable time manually sourcing quotes and validating prices – meaning it was working in a tactical, admin-based way. The disproportionate effort spent on these simple tasks was unsustainable, especially given the pressure to procure in an effective and efficient manner.
It was also quite often that the items promoted or recommended by suppliers were close to end of life, creating a temporary delay forcing them to source alternative products when the time came to buy.
Lodders were looking for an easy-to-use interface which would allow them to find the best price for products, trusted quotes and transparency of stock levels, pricing, and alternative products. Al Nagar, Mercato’s Head of Benchmarking demonstrated the solution and then prepared a spend analysis of more than 100 commoditised IT products, highlighting our compliant and non-compliant spend, suppliers margins vs trade pricing, and guidance to pricing available to us in the IT Marketplace.
This validation exercise revealed savings and overspend in precise areas to focus on – and provided the business case for KnowledgeBus implementation. Following implementation, the IT team received their login details and had an informative, in-depth training session with the KnowledgeBus team.
“We advised our suppliers of our intentions to use this product, and away we went. It could not have been simpler really. Go-live was very easy, online training was given plus follow up checks meant using KnowledgeBus was very easy to use and administer.”
“Not only is KnowledgeBus easy to work with, but the KnowledgeBus team are very responsive to queries. If we can’t find a product on the system, they add them efficiently and promptly”
”With thanks to KnowledgeBus, we are saving money on every purchase we make compared to before. Prices are always capped at cost plus 3% margin instead of figures which could vary wildly from this percentage. We are aware of better, newer products which are due to replace current products going end of life, and usually for a similar price, so we benefit from better technology decisions now. We are saving money!"
“Our suppliers reacted to “the levelling of the playing field” in good spirits and were happy to work with us, receiving requests for quotes since using KnowledgeBus.“
“With KnowledgeBus allowing us to benchmark prices, we raised noncompliance with our suppliers upon discovering an excessive margin. We presented our supplier with a spreadsheet showing the markup and this helped us bring it down to the 3% level quite quickly. We have even had a lump sum cash back from previous transactions carried out before KnowledgeBus was implemented.”
KnowledgeBus also offers various tools for its customers to use. The Mercato Procurement Hub is something Lodders Solicitors have access to and Mike explains “We have successfully used the tool when our suppliers have not been as competitive as they should, and we are planning on using it as much as possible in the future if our suppliers attempt to overcharge us again."
IT Manager, Lodders Solicitors LLP.
“Since implementation, KnowledgeBus users within the business have been recognised as delivering extra value when it comes to IT Procurement. Through cost savings, efficiencies, and a closer working relationship with our suppliers, we are now purchasing more laptops, screens, and peripherals, than we ever have done before.”
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