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 eSourcing solutions.
In the UK, the Government is supporting the Directive's objectives with new regulations and with its Efficiency Review. The Government’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. The Government’s drive for transparency within public contracts and in public spending in general also provide opportunities for BiP to deliver valuable services. 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 companies of all sizes 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.
outlining BiP's approach to strategy
In May 2012, the company was restructured into three separate Divisions – Business Intelligence, Global Services and Central Services. The restructure allows BiP to focus more effectively on new opportunities emerging within both public and private sector procurement and to accelerate the development of our existing services.
BiP’s Commercial team – now part of the Global Services Division – has been instrumental in winning and developing new business for the company. Successes include contracts for major UK initiatives such as the Procure4London portal and the CompeteFor portal for the London 2012 Olympic Games, as well as overseas projects for the European Defence Agency, the UAE Army and the governments of Kenya, Kosovo, Macedonia and Montenegro.
BiP expects many more new contract opportunities to present themselves during 2014-15 and subsequent years.
BiP Solutions' Strategic Plan for 2014-15 and beyond builds on the success of 2013-14. BiP is well positioned through its increasing product range, new structure, sales resource and support infrastructure to take advantage of the many opportunities that are available to the company. The Executive Board has every confidence in the company's ability to continue to achieve substantial and sustained growth and looks forward to another successful year.