Tesco Bank Case Study

The goals:

An ambitious goal but Tesco Bank wanted to take an already competitive initial RFP response to auction. With CF Support the Bank was looking for further reductions across lots.

The approach:

Curtis Fitch Auction Support provided a strategic steer for the auction setup and management. eAuction participants received a short training session prior to the auction commencing leaving everyone a whole lot more relaxed in the auction.

The results:

Combining Curtis Fitch auction technology and our auction know-how, meant that pricing improved on all aspects that were auctioned.

Tesco Bank recently concluded another successful eAuction using CF Source auctions, supported by the expert Managed Event team at Curtis Fitch. The support received from Curtis Fitch significantly increased the ease with which this eAuction was built, conducted and closed.
Curtis Fitch also provided training directly to the eAuction participants prior to the auction commencing which all the participants found to be extremely beneficial especially as a number of them had not been involved in an eAuction before.
On the actual day of the eAuction Tesco Bank had the benefit of having a Curtis Fitch Account Manager being present to advise on potential tactics and to ensure the whole auction ran smoothly.
This combination meant that, even on an already competitive initial RFP response, pricing improved on all aspects that were auctioned.

Logan Watt, Procurement Compliance Analyst, Tesco Bank