Drilling company targets $7.5M savings with rapid P2P improvements

P2P Improvements

When time and money are on the line, clarity matters. In just two months, bpmd helped the team see exactly where the problems were, what to fix first, and how to unlock millions in savings.

$7.5 million

in projected savings identified within 2 months

25% increase

in PO and invoice processing efficiency

48 targeted

improvement actions developed and prioritised across 20 key processes

Background

A leading deep-water drilling company, headquartered in London with regional offices worldwide, operates over 50 drill rigs and employs more than 4,500 people. The company needed to improve efficiency in its Procure-to-Pay (P2P) process. In just two months, bpmd helped them develop a plan to save $7.5 million through process improvements.

Challenges & Opportunities

The company faced several issues in its P2P process:

  • Only 55% of invoices were paid on time, and processing costs were too high.
  • Teams worked in silos, lacking an end-to-end view of the process.
  • Knowledge was localised with individuals due to a regional structure.


Despite efforts to improve, they were falling short of their 90% on-time payment target. A fresh approach was needed to drive efficiency and meet their goals.

Our Approach

bpmd provided a structured, top-down approach to improve visibility across the P2P process:

  • 20 key processes were documented, and stakeholders were engaged to identify root causes.
  • 200 identified issues were reviewed, prioritised, and mapped to relevant processes.
  • High Impact, Low Maturity (HILM) areas were pinpointed to focus on critical improvements.
  • A kick-off workshop brought key stakeholders together, revealing process dependencies and generating 48 targeted improvement actions.
  • These actions shaped the future process model, leading to the development of 29 prioritised work packages.


The work packages were structured into three execution waves:

  • Wave 1: Addressing key source issues.
  • Wave 2: Optimising PO processing.
  • Wave 3: Driving continuous improvement.

Results

  • Inventory management improved by 1.2%.
  • PO and invoice processing efficiency increased by 25%, leading to better on-time payments.
  • The company secured board approval for the P2P project execution.
  • A projected saving of $7.5 million over two years.


In just two months, bpmd helped the company understand its current processes, define improvement actions, and initiate change. This approach not only saved money but also created a more efficient and streamlined P2P process, resulting in happier customers and vendors.