ANZ Bank has outsourced the bulk of its procurement operations to PricewaterhouseCoopers in a five-year agreement that will save the organisation around $100 million.
The contract, believed to be the largest of its kind, will outsource around 70 per cent, or about $850 million of ANZ's Australian and New Zealand Group Procurement operations to PwC. The contract will include computers, stationery, telecommunications and air travel, officials said.
PwC says the cost savings would come from reduced transactional costs, improved buying capacity and better information management.
Allen Edwards, managing partner of PwC's business process outsourcing line of service, said the procurement operations would be hosted in a multiclient, shared-service centre.
PricewaterhouseCoopers Procurement Services, a wholly owned subsidiary of PwC, will operate the shared services centre.