Proxima secures $40m in new contracts and sees significant growth in procurement consultancy services
Feb 23, 2015 2:00:00 AM
LONDON, UK and CHICAGO, IL – February 23, 2015 – Proxima, a leading international procurement services provider, announced today that the company has kicked off the year by securing $40 million in new contracts and has increased its spend under management by a further $1.5 billion. Additionally, the company is turning its attention to growing its procurement consultancy services in response to demand from clients who are continuing to recognize the contributory value of procurement operations to corporate profitability and overall organizational health.
Continued global expansion, with focus on North America, as clients increasingly gain new appreciation for strategic procurement.
“Over the past twelve months, we have seen a shift in the market related to the perception of procurement’s value proposition,” said Matthew Eatough, CEO of Proxima. “Clients are beginning to understand the need to extract more value from supplier relationships, rather than simply focusing on achieving the greatest amount of savings. We are pleased to see clients embracing the notion that savings is just one of the outcomes that sits alongside innovation, risk, engagement and impact on profitability, but not the only outcome. They are looking to us to help them design and transform the entirety of their procurement operation with this in mind.”
Proxima has enjoyed an upsurge in new contracts coming from expansions, extensions and renewals from existing clients as well as new client wins. In the last three months, Proxima has earned new or additional business from a global retailer, a North American-based food product manufacturer, an iconic retail banking brand, a pan-European supermarket chain and a UK based financial service provider.
“All of these new contracts are with ideal clients for Proxima because they are companies aligned to our view of what great procurement should be – the creation of enterprise value and a movement beyond the desire to simply cut costs,” said Jonathan Cooper-Bagnall, Proxima’s Commercial Director. “The continuing development of our service portfolio, the talented people we are attracting and our focus on training and development, and the ongoing investments into our client services capabilities are all in alignment with this philosophy and continue to deliver excellent results back to our clients.”
In the coming year, Proxima will expand its consultancy services model, offering clients a range of services including strategic positioning and overall procurement organizational design. Proxima’s goal is to help clients arrive at a vision and mission for its procurement operations, ensuring that all initiatives and outcomes are connected to the wider business objectives. Gareth Evans will lead the newly invigorated consulting practice.
“Already in 2015 we are seeing much demand for our consulting services, with revenues from this type of work poised to double over the next twelve months,” said Evans. “We continue to leverage our learnings and practical experience from transforming global procurement functions to help ensure our clients’ procurement teams are seen as real enablers and contributors to the achievement of corporate objectives.”
With new contracts in hand and momentum building for its consultancy services, Proxima remains bullish on its prospects for 2015. The company is poised to grow its team and plans further expansion in North America, a market where significant growth has already occurred.
Corporate communications team