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 reposition the Bank’s perception of Procurement from a quasi-administrative function to preferred partner driving the Bank’s cost agenda. Ambitious goals were set to deliver an aggressive €10m annualised cost optimisation by 2023, whilst leveraging technology to support data-driven decisioning. Permanent TSB partnered with Efficio for support and expertise in realising savings. The joint procurement team demonstrated commerciality to the wider Bank and vendors. Within just 12 months c.€12m savings were delivered, and a total savings of c.€13m achieved; exceeding programme targets early and solidifying the ethos of “One Team, One Target”.