CHICAGO--(BUSINESS WIRE)--HBR Consulting announces the successful completion of its first year of a three-year procurement outsourcing project with global law firm, Shearman & Sterling LLP. One year ago, Shearman & Sterling, in conjunction with HBR Consulting, conducted a holistic review of its procurement function — an effort intended to bolster efficiencies in order to better serve clients. As part of that review, the Firm identified and developed key goals and objectives, including: streamlining of procurement operations, enhancing controls and transparency through the use of technology solutions and expanding the scope of influence and areas supported by procurement.
The Firm turned to HBR Consulting to develop a long-term solution to achieve these objectives. As part of its services, HBR is providing an outsourced team focused on transactional support, contract lifecycle management and strategic sourcing for primarily domestic offices, with a goal of expanding globally in the near future.
Kenneth W. Johnsen, Shearman & Sterling’s COO/CFO, said, “We began the process with HBR based on a single, critical premise: that whatever we did would improve the way we service and interact with our clients. We had a great internal procurement team, but we knew they could not achieve the savings and efficiencies we targeted without additional tools and market data. Developing those tools on our own was cost prohibitive.”
As part of the three-year procurement outsourcing project, members of Shearman & Sterling’s team joined HBR Consulting, which supplemented the process with subject-matter experts, tools and systems. Over the past year, Shearman & Sterling benefited from increased efficiencies in transactional purchasing, realized significant seven-figure cost reductions via sourcing initiatives and reduced overall operational risk to the Firm.
Keith M. Borack, Shearman & Sterling’s Global Director of Project Communications & Procurement, said, “While phase I of the project was more centrally oriented, we will now begin to expand the benefits to our global locations.”
Adam Stoklosa, Managing Director at HBR Consulting, added, “Our focus at HBR Consulting is to drive value for our clients by structuring solutions to meet their goals and objectives while providing exceptional service and performance. We are thrilled by the seamless implementation and transition process with Shearman & Sterling and are proud of the results that this new partnership has achieved in a short time period.”
About HBR Consulting
HBR Consulting (www.hbrconsulting.com) is internationally recognized as the leading business and technology operations consultancy in the legal industry. Formally Hildebrandt Baker Robbins, HBR Consulting continues to expand on its foundation as a leading provider of consulting services to the legal industry. With more than three decades of experience, HBR Consulting helps law firms and law departments plan, implement, and measure business, information and technology initiatives with a focus on increasing operational efficiency. We help clients holistically address their needs in the areas of Advisory, Managed Services and Software Products.