Corporate Overview and Strategy - innovative solutions inc
BiP Solutions is a leading provider of business information and supply chain solutions that help organisations maximise their operational performance and efficiency. Our proprietary solutions focus on facilitating international, national and regional buyers and suppliers to proactively and intelligently interact. The services we offer are structured around seven capability pillars, the principal of which is Business Intelligence, which provides strategic insights into the public sector procurement market. This business intelligence allows clients to identify new market opportunities, analyse market trends and obtain invaluable information about their customers and competitors, delivering real advantages that drive increased revenue opportunities. innovative solutions inc
With over 27 years of expertise, BiP is seen as the leading provider of comprehensive, real-time and historical intelligence on public sector procurement/spend information – intelligence that is unavailable in such a holistic manner elsewhere in the market.
The UK Government’s Transparency Agenda is providing visibility of an ever-increasing range of rich content. Public authorities and many major corporations utilise our resources to support their market intelligence. Our database contains 20,000,000 procurement market-related intelligence records going as far back as 1991. We constantly track thousands of public organisations and thousands of new records are retrieved, formatted and classified each working day.
Tracker Business Intelligence Solutions
The internet provides disparate visibility into government contracting/spend information, but does not provide the on-demand intelligence or context required to guide strategic decisions. Our comprehensive procurement solutions support all industry verticals and contain much of the relevant decision-making information required by businesses on both a historical and real-time basis. Thousands of records are added to our database each day.
Having access to comprehensive and timely procurement and spend information helps organisations develop effective sales and marketing strategies and greatly improves decision making.
Our principal business intelligence brand is Tracker, which encompasses a growing range of solutions delivered online. Access to all Tracker services is through subscription, with prices dependent on the geographic range, nature of content or volume purchased.
Researched content is refined and enriched to provide a comprehensive view of the marketplace and of specific opportunities necessary to support an organisation’s public sector supply strategy.
Tracker Insight Solutions
More than 4.4 million businesses are operational within the UK, creating a highly competitive public sector marketplace. Identifying quality business intelligence is essential to a company’s success.
When an opportunity is identified, more research must be performed in order to fully assess it, including research into the public authority, the decision maker, historical purchasing practices and product spend. Through our comprehensive range of ‘Insight’ market intelligence services, companies have access to current and past intelligence, reports and spend data, allowing them to gain a view of the marketplace that improves their contract win rates and supports their public sector strategic planning.
For example, the Tracker Insight product Spend Analysis provides insight into the actual spend of more than 950 UK public sector authorities and clearly identifies all suppliers to the public sector. This information is presented in chart, table and graph formats. It also tracks supplier activities and market share, thereby enabling both large and small organisations to intelligently align their business strategies to market opportunities and monitor competitor success.
Tracker Tenders combines rich search functionality with bespoke tailored alerts on regional, national and international real-time open public sector contract opportunities. Most of our customers use the Tracker Tenders solution to generate public sector sales leads and identify market trends. Through the archive tool, subscribers can also analyse past purchasing information, which is vital for assessing market scope and ensuring that strategic planning is based upon facts in order to inform their strategic business objectives.
Tracker Tenders identifies what contracts exist, who the buyers are, when contracts are coming up for renewal and who the incumbents are. With this information, our clients are able to perform an early evaluation of the opportunity so they can be more competitive with their proposals and increase their public sector business success.
Increasingly, clients are seeking our expertise in providing specific objective evidence-based market opportunity intelligence. The Tracker Corporate solution is designed for larger organisations that have a wide range of products or services and require a direct feed of business intelligence into their own CRM service. Tracker Corporate is tailored to a client’s unique objectives to support both their strategic planning and their sales and marketing activities.
Tracker Corporate is particularly important in delivering relevant information to companies acting in core industry verticals such as construction, health and defence. Within these verticals, we provide hard-to-find content which supports both strategic planning and sales and marketing activities. Tracker Corporate is available on multi-year licence arrangements.
BiP Solutions is committed to delivering exceptional products that offer customers significant added value and maximise their potential for business in the public sector marketplace. Only by so doing can we effectively increase client numbers and retention and, ultimately, our profit potential for reinvestment. Our people, content and technology platforms are key assets that can be further leveraged to deliver additional, more strategic applications for our customers, and only through understanding our prospective customers’ businesses can we deliver long-term profitability.
BiP’s sales and marketing effort is focused on identifying prospective clients and providing them with the most appropriate product dependent on their revenue and industry profile. Organisations with high revenue turnover tend to subscribe to our premium products and services and demonstrate a high renewal and satisfaction rate. Companies with lower revenues are directed to our self-service products and low-cost support services with the intention that, as their business grows, they will then consider our premium services.
Our continuous, innovative product development approach creates clear differentiation between BiP and our competitors. By providing a range of business intelligence products, we are able to leverage our content and technology platform investment over a much wider market without losing focus on our target audience. This is demonstrated by the growth we have achieved in revenue achieved from clients utilising our own brand products and services and our increased client retention. As a result, we serve this market more effectively and holistically than others.
Our 2011-15 strategy is to leverage our content and technology investment and expertise over a wider market without losing focus on our core customers. The strategy also emphasises performance management processes around forecasting, managing activities and prioritising activity around at-risk clients. The strategy is designed to continue building a profitable and sustainable business model to drive value and customer satisfaction.The primary objectives of our sales strategy are to increase annual contract value, client retention and new client acquisition. To achieve these objectives, we intend to:
- Introduce new services that supplement our existing offering and appeal to potential clients
- Implement an improved contact strategy, particularly for our first-year clients, to help understand our customers’ needs while proactively offering training – delivered via webinars – on how to leverage our services to meet those needs
- Create a smaller, more specialised account management function to deliver greater client service and increase customer satisfaction
- Implement a ‘targeted accounts’ process to identify customers with the highest potential lifetime value and route them to the sales resource with the greatest knowledge of their market sector and demographics
Our content and technology platforms are key assets that can be leveraged in order to deliver more strategic applications for our customers. We intend to develop new market-driven products and expand our current applications through Cloud-based services. These developments may include features such as competitive analysis, channel partner selection and evaluation, market sizing, allocation of marketing spend and pricing analysis.