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NS&I: Saving over £400m by managing procurement and negotiating a new contract for their operational services

With over 25 million customers and more than £100 billion invested, NS&I are one of the largest savings organisations in the UK. Best known for Premium Bonds, they provide cost-effective financing for the UK government by issuing and selling savings and investment products to the public.

NS&I’s current contract for the provision of all their operational services is expiring and they needed to procure a successor arrangement. As part of this re-procurement, NS&I wanted to improve customer service, tighten commercial terms and move to a more digital business in support of the UK government’s 'digital by default' strategy.

By creating a team with extensive procurement and negotiation experience, we helped NS&I procure and negotiate the £660 million successor contract – ensuring the procurement was completed faster than originally planned and delivered within budget. This new contract represents over £400 million in savings compared to the continuation of the current contract. NS&I's new contract transfers more risk to the provider, helps to reduce government borrowing and directly supports NS&I’s strategy to achieve over 80% transactions digitally over the next eight years.

Our work with NS&I was Highly Commended in the Commercial Excellence category at the 2014 Management Consultancies Association (MCA) Awards.

Find out more about our work in financial services.

Contact the financial services team

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