Funding Circle saves £1M with Gatekeeper

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The Funding Circle Story

Funding Circle, the UK’s largest loan platform for SMEs uncovered £1m of unnecessary annual contracts when they partnered with Gatekeeper and gained a central, single source of truth. 

Before working with Gatekeeper, Funding Circle found themselves outsourcing more and more with third-party vendors which led to challenges around:

Tracking supplier due diligence and compliance through Google Drive as the volume of third-parties continued to increase

Poor visibility and control of contract commitments caused by a non-digitised contract database

Missed renewal deadlines, leading to the auto-renewal of supplier contracts that were no longer required.  

Gatekeeper’s smart contract repository gave them that view and peace of mind that they’re on top of what’s coming up. Read the full story here

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Gatekeeper gives us excellent control and visibility of spend, which we have never had before. We have been able to terminate contracts that no longer serve us with a total value of circa £1m. ”

Krupa Patel,
Head of Procurement UK & US (Global).

Funding Circle 100

Gatekeeper stays on top of everything

So you can be stress-free

Restore Visibility

  • Get smart & dynamic vendor and contract repositories creating your single source of truth.
  • Get dashboards and data visualizations that will provide you with the oversight you need to make informed decisions.
  • Defined & delegated ownership and permissions across the organisation, 

Take Control

  • Using Gatekeeper's powerful workflow engine to automate your new vendor onboarding, contract negotiations, and ESG questionnaires.
  • Remove your team’s manual workload and replace it with consistency and a completely scalable solution.

Safeguard Compliance.

  • Integrated third party data feeds enabling both cyber and finance-driven approval gates for all new vendors
  • Monitor the ongoing financial and cyber health of your vendors with integrated data feeds
  • Be ‘audit-ready’ at all times thanks to predictable automation and centralized data. 

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