Case Study: Leading US Bank saves $2.5M in contractor costs with Insightful

A Leading US Bank Unearths $2.5 Million in Contractor Savings in Just 3 Months

Leading US Bank turned to Insightful, a workforce analytics platform, to address major contractor inefficiencies across its 3,000-person IT contractor base. The bank lacked visibility into daily contractor activity, struggled with unverifiable billing from outsourcing firms, and suspected it was overpaying for underutilized external labor.

Using Insightful’s work activity, capacity analysis, and contractor management capabilities, the bank gained real-time visibility into utilization and billed hours. Insightful helped uncover 25% overbilling, identify inefficient workflows, and expose billing discrepancies across vendors, resulting in $2.5 million in contractor savings in just three months, with projected annual savings of $10 million and a 27% reduction in the external workforce while maintaining output.