BiP Future Growth Profile

The business environment currently facing BiP Solutions is one of opportunity, as market forces and trends in public sector procurement remain positive despite the economic downturn.

The EU Consolidated Public Procurement Directive, which came into law on 31 January 2006, aimed to stimulate competition and the use of electronic tendering, for which the company is well positioned with a comprehensive range of e-sourcing 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 options 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.

In addition, the Government has stated that it wishes to see greater involvement from Small and Medium-sized Enterprises (SMEs) in delivering the public sector’s requirements. BiP’s expertise and track-record in providing business intelligence to all sizes of company means it is able to assist with delivering this objective by increasing the transparency of opportunities and providing tendering advice and support. BiP’s in-house business intelligence research team ensures that our customers benefit from the most comprehensive service of its type available in the UK.

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 such opportunities. The company is at the forefront of technological developments that are driving current thinking on procurement best practice and its services are increasingly being taken up by public bodies and private sector suppliers. However, the company is alert to new opportunities and plans to cement its position as a leading provider of solutions that add value to supply chains.

BiP’s Commercial Department has been instrumental in winning and developing new business for the company. Successes include contracts for major UK initiatives such as the CompeteFor portal for the London 2012 Olympic Games, and overseas projects for the European Defence Agency, the UAE Army and the governments of Kenya, Kosovo, Macedonia and Montenegro.

The Board expects many more new contract opportunities to present themselves during 2010-11 and subsequent years.

Executive Board

In order to assist in the delivery of its Strategic Plan, the company has appointed two Non Executive Directors, Jim McPhillimy and Alan Stewart.

Strategic Advisory Board

In July 2009, BiP announced the formation of a Strategic Advisory Board. The Strategic Advisory Board has a number of functions, each of which is designed to support the company in achieving its ambitions for increased growth. The Board does not have governance or fiduciary responsibility, but is instead focused on identifying and maximising market developments, advising on strategic issues (and policy areas such as Corporate Social Responsibility), identifying new business opportunities and providing advice and support to the company’s existing Executive and Operational Boards. The Strategic Advisory Board meets formally at least three times a year, and is chaired by Duncan Eaton, the former Chief Executive of the NHS Purchasing and Supply Agency, and previously a member of BiP’s Executive Board.

Further information on the members of the Strategic Advisory Board can be found here.

Summary

BiP Solutions' Strategic Plan for 2010-11 and beyond builds on the success of 2009-10. 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 looks forward to another successful year.