PwC Consulting and Business Market 9 Sign MOU for Indirect Procurement Cost Reduction Consulting

On May 14, PwC Consulting announced, "Yesterday, we signed a memorandum of understanding (MOU) with CastingN, the operator of the integrated indirect procurement management solution 'Business Market 9,' to promote a joint strategic cost reduction project."

At the "Strategic Cost Reduction Joint Project Promotion Business Agreement Ceremony" held on the 13th, Jae Kwon Ahn, Executive Director of CastingN (left), and Jong Moon Baek, Head of PwC Consulting Operations Division, are taking a commemorative photo. Photo by PwC Consulting

The two parties plan to provide joint services for indirect procurement cost reduction by leveraging PwC Consulting's cost reduction consulting expertise and the information technology (IT) solutions of Business Market 9. This service will not only provide a simple cost assessment, but will also automatically analyze items with high cost-saving potential based on actual expenditure data such as corporate card usage and purchase history, and will propose actionable solutions.

Indirect procurement includes all areas of purchasing goods and services necessary for business operations, apart from the purchase of raw materials used in production. Typical examples include consumable materials at production sites, desks, chairs, printers, office supplies, computers, monitors, IT equipment, software, and welfare items such as coffee and snacks. Recently, as the trend of high interest rates and high inflation has continued for an extended period, companies are making various efforts to reduce costs.

Jong Moon Baek, Head of PwC Consulting Operations Division, said, "We are witnessing a greater demand for cost reduction from companies than ever before," and added, "We will strive to ensure that our clients experience tangible cost savings through the synergy of our consulting expertise and IT solutions."

Jae Kwon Ahn, Executive Director of CastingN, stated, "We will further focus on advancing our technology so that our cost reduction solution, which combines top-tier consulting and AI technology, can effectively address companies' 'leaking costs.'"

This content was produced with the assistance of AI translation services.