NS&I extends Siemens Business Services contract for further five years
04 October 2004 | 398 views | 0
Source: Siemens Business Services
Siemens Business Services today announced a five-year extension to the National Savings and Investments (NS&I) contract with immediate effect, running from 2009 to 2014.
In a deal worth 600 million euros, Siemens will continue to work in partnership with NS&I, the government-backed savings provider, to support the delivery of increased benefits to customers and taxpayers.
In 1999, Siemens secured a ten-year contract with NS&I for business process outsourcing (with a five year option for extension after five years of the contract had elapsed), in one of the UK's largest and most successful public-private partnerships to date. Handling the service delivery of NS&I products and transforming business operations and IT systems, so far, the partnership will reduce NS&I's costs by 750 million euros over the life of the contract.
The National Audit Office, in its latest report on the partnership (May 2003), said: "Siemens Business Services has significantly increased productivity and reduced costs within the NS&I business. Transactions have been delivered with improved service levels, increased speed of response, high accuracy levels with improved access and choice of products which are now more aligned to customer needs." E.g. customer response times by post have been improved by 60 percent.
NS&I chief executive Alan Cook said: "The partnership with Siemens is helping us continually improve what we are able to offer customers, assisting us towards achieving our goal of being recognised as the UK's leading and most trusted savings and investments organisation."