Proxima appointed by SAV Credit on five-year outsourcing contract
Feb 3, 2014 3:55:00 AM
LONDON, UK - February 3, 2014 - Proxima, the global procurement services provider, announces today that it has been appointed on a five-year contract to manage external supplier costs and relationships for SAV Credit.
SAV Credit is a leading independent credit card provider, focusing on retail co-brand and point of sale finance for many of the UK's best known high street retailers.
Proxima has been appointed by SAV Credit, on a five-year contract, to set up and run the management of third party costs for SAV Credit, which has grown and expanded rapidly over recent years. Proxima’s remit will also include consolidating the spend of SAV Credit’s recent acquisitions and integrating systems across the company.
Starting in the first quarter of 2014, Proxima will manage all third party spend, providing business partnering and change management, sourcing support, market insight, category management, and commercial management of suppliers across SAV Credit’s business.
Sanjay Sharma, Chief Operating Officer of SAV Credit, commented: “Proxima proved themselves to be flexible and highly capable when they offered a ‘proof of concept’ three-month trial to demonstrate their capability. Their collaborative way of working resulted in their clear ability to generate value to SAV Credit and I am sure that this new approach will deliver meaningful results as we move forward.”
Matthew Eatough, Chief Executive Officer of Proxima added: “After a very successful three month pilot, we are proud to be supporting one of the fastest growing private companies in the UK. Through our strong experience in financial services, we are confident of putting in place the solutions that will support SAV Credit as it continues to grow over the coming years.”
FTI Consulting, for Proxima
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About SAV Credit
Founded in 2000, SAV Credit is one of the fastest-growing businesses in the UK and a leading company in the credit card market.
In May 2013 the company completed the acquisition of a retail co-brand card and point of sale finance business for many of the UK’s best-known high street retailers including Debenhams, the Arcadia Group, House of Fraser and Laura Ashley. This purchase is one of the largest credit card portfolios in the UK with over 3.5 million customer accounts and balances of more than £1 billion.
Our consumer brands include the innovative aqua branded range of credit cards.