Company name: Proxima (formerly buyingTeam)
What they do: Procurement outsourcing and service provider
The boss: Matthew Eatough
Latest turnover (£,000): 18,698
Four-year compound sales growth (%): 32
Latest Ebitda (£,000): 1,960
Now operating as Proxima (since a rebrand in February 2012), this procurement outsourcing company has more than 20 blue-chip FTSE 250 clients.
Proxima works with clients on indirect procurement, anything from office consumables to professional services contracts with lawyers and strategy consultants. But, says founder Matthew Eatough, the proposition is markedly different from traditional outsourcing, which focuses on reducing costs by shipping back office processes to low-cost countries:
“We are looking to transform the commercial performance of the procurement function and allow clients to get very high ROI on that investment. It’s about creating an investment case to build the procurement capability within large businesses.”
Proxima has just started making inroads into the US, with three clients on board. Eatough says the company is targeting 25 per annual growth, but “what we focus on is our total contract value. One of the things that has underpinned our ability to grow is our ability to secure long-term contracts.”
Contract lengths have extended from six months to 18-24 months, which in turn, “allows you to invest and grow regional presence.” Proxima’s 250 staff have helped grow sales from £8m to £18.7m within four years.
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