Torch Tenacity Prevails – R 8.3 million Annual Customer Saving
Back in May 2017, Torch started working on a savings initiative for a South African based retail bank that offers financial products and services. The initiative was centered on a Fixed Voice contract. Torch was confident, based on experience and industry knowledge, that a significant saving would be achievable, although at the time the exact value was unknown.
Between June and September 2017 Torch collected data and pricing from the market to model potential savings numbers. In November 2017 Torch presented the numbers to our customer. The numbers showed that Torch predicted an annual saving of R 5.2 million should be achievable.
The entire 2018 was taken up by ongoing Carrier negotiations to ensure the best possible rates would be provided to our customer. At every iteration, Torch modeled and validated the new proposed rates to determine if the carriers could further improve their offerings.
In the first quarter of 2019 suitable rates were agreed and contract negotiations commenced, the signing of which was concluded on 8 July 2019.
Torch is very proud to announce that the result of the negotiations will ensure an R 8.3 million annual saving for our customer. This represents a 38% increase from the initial projected savings of R 5.2 million.