BiP Future Growth Profile
The business environment currently facing BiP Solutions is one of opportunity, as market forces are extremely positive.
A new EU Consolidated Public Procurement Directive came into law on 31 January 2006. The basic premise of the Directive is to stimulate competition and the use of electronic tendering, for which the company is already able to offer comprehensive solutions.
In the UK, the Government is supporting the Directive's objectives with new regulations and with its Efficiency Review. The Office of Government Commerce's investigation into options for radically reforming the approach to public sector procurement is also a positive market force for the company. The options being considered – such as electronic purchasing, shared purchasing strategies and improved supplier management – are all issues for which BiP has a service available in the market. In short, legislation from the EU and UK is moving to favour BiP products and services.
The growth in BiP's business will depend on the company's ability to meet the challenges and opportunities presented by the changing business environment and on the company positioning itself to maintain and further enhance its market leadership.
In many ways, BiP is already well placed to exploit the opportunities that will arise from its changing business environment. The company is at the forefront of technological developments that are driving current thinking on best practice and its products are increasingly being taken up by public bodies and private sector suppliers. However, the company is alert to new opportunities and has plans to cement its position as a leading provider of procurement solutions.
During 2006/7 BiP saw its first returns from its newly formed Commercial Department. Recent successes include contracts for the Kenyan Government and Consortium of Essex Public Authorities and an expanded contract with the Ministry of Defence.
The company still awaits announcements on a number of contracts for which it was recently invited to tender. During 2007 BiP’s Commercial Department secured new contracts to a value in excess of £1 million. The Board expects many more new contract opportunities to present themselves during 2008/9.
Executive Board
In order to assist in the delivery of its Strategic Plan the company has appointed two Non Executive Directors, Duncan Eaton and Norman Rose. In 2007 the position of Deputy Chief Executive was also created.
Summary
BiP's Strategic Plan for 2008/9 and beyond builds on the success of 2007/8. Market conditions continue to look promising and BiP is well positioned through its increasing product range, sales resource and support infrastructure to take advantage of the many opportunities that are available to the company. The Board of Directors has every confidence in the company's ability to continue to achieve substantial and sustained growth and look forward to another successful year.
