Member Article

Member News: Innovative business concept could save companies thousands of hours

“Outsourcing procurement of products and services presents huge opportunities for time and cost savings, and provides a cost-effective route to the best suppliers and the most competitive prices…“

Steve Spruce, Managing Director, Salesbridge Ltd.

Talking to business owners and operators, one thing always comes through clearly – most feel that the time available to devote to their core business seems to shrink as the business grows. Administration, particularly sourcing, negotiating and approving suppliers, takes an ever increasing amount of time – time that could be better devoted to growing their business.

The identification of this key need led financial specialist Steve Spruce to set upSalesbridge, in conjunction withIn-tend, a subsidiary of the University of Sheffield. While the idea of outsourcing procurement is not in itself new, Steve’s approach to it certainly is – to the advantage of the business looking to purchase, and suppliers seeking to sell.

Buyers using Salesbridge are put in touch with suppliers exactly suited to their needs, while suppliers have access to a much wider market in terms of geographic area and to opportunities that would not normally appear on the open market. Salesbridge does exactly what the name suggests – link purchasers and suppliers.

Salesbridge Managing Director Steve Spruce explains the key points of his innovative approach:
“Usually the purchasing company will either contact an existing supplier who may not necessarily be providing the best value, or have to shop around for quotes for the products or services they need. This is a drain on time and resources, with estimates of up to 15% of time spent searching and managing sourcing. The Salesbridge approach takes the brief from the purchaser and sources the best supplier at no cost to the buying company. We take a percentage from the successful supplying company based on the value of the contract, in other words a ‘pay as you win’ basis, and we don’t charge either buyers or suppliers for registering with us.”

A second innovative tier to the Salesbridge concept is that participants will be rewarded through the granting of share options in the company. Salesbridge can also manage the increasingly time consuming tendering process, enabling smaller companies to compete for major contracts from the private and public sector, nationally and internationally.

Steve Spruce has an impressive track record in business, specialising in business planning and turnaround situations, with particular expertise in the financial services sector. In-tend is the e-procurement arm of the University of Sheffield, operating since 2006 with approximately 105,000 suppliers on their roster. Salesbridge will be utilising In-tend’s database and building upon it as the collaboration develops.

Salesbridge will launch in the North East / Yorkshire region, with a national rollout planned. By targeting regional suppliers it will aid local companies and contribute to the regional economy.

With a 2010 Open University report highlighting that 25% of small manufacturers are already experiencing problems coming out of recession through inability to upgrade equipment due to poor cash flow, difficulties accessing finance, or problems sourcing equipment, Salesbridge looks set for success.

This was posted in Bdaily's Members' News section by Steve Spruce .