Permanent TSB (with Efficio)

Project Titan “One Team, One Target”: A partnership aligning cost optimisation with strategy and growth

An intense transformation programme – “Project Titan” – was launched to address the Bank’s perception of Procurement as a quasi-administrative function and reposition it as a preferred partner driving the Bank’s cost agenda, by:

▪Delivering €10m annualised cost optimisation by 2023 ▪Leveraging technology to support data-driven decisioning Permanent TSB partnered with Efficio for support and expertise in realising savings across the Bank’s third-party spend. Leveraging their complementary strengths, the joint procurement team demonstrated commerciality to the wider Bank and vendors. Within 12 months, ~€12m savings was delivered, exceeding programme targets early and solidifying the ethos of “One Team, One Target”.