Thames Water, the largest water company in the UK, has signed a five-year contract with procurement specialists Efficio to manage £500m worth of spend a year.

The deal, which takes effect on April 6th, will mean Efficio providing a full procurement managed service taking responsibility for sourcing and contract management of all Reading-based Thames Water’s direct and indirect spend.

Thames Water head of supply chain Ian Bolger said: “We are confident Efficio will build on our existing staff expertise to take us to a higher level of procurement effectiveness.”

The London-based consultancy had previously led an 18-month procurement transformation project with Thames Water to improve efficiencies and generate savings in both capital and operational expenditure.

Efficio chief executive Jens Pedersen said: “We are delighted to have won this contract with a major UK company and look forward to delivering excellent results for Thames Water.

“Having worked with Thames Water in the past we know they understand the contribution we can make to their continuing success.”

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