As Probrand releases strong interim results, it is the brands that are growing channel sales after backing the companys online IT procurement solution, www.theitindex.co.uk.
Probrand has helped vendors buck the flat market for a third year, posting impressive 2006 interim results that show turnover up 14% year-on-year.
And thanks to the success of Probrands online channel, which now accounts for over 50% of its business, vendors are recording sales growth of up to 300%. Probrands award winning IT procurement portal is the key to future IT reselling.
Theitindex.co.uk secured Probrands position as one of six suppliers providing 2BN ICT goods and services through the governments Catalist framework. This in turn has unlocked several new account wins from police forces to Local Authorities and educational establishments.
Last year saw theitindex.co.uk smash all records, continuing its exponential growth rate of 144% year-on-year. The solution has more than doubled in size since 2004 and now contributes over 10M to the Groups annual turnover.
These results demonstrate Probrands insatiable march on the IT sector. Theitindex.co.uk continues to grow and now daily lists over 100,000 product lines from 1200 manufacturers by best price and availability. It is helping customers like Cheltenham Borough Council save over a day week in procurement time and 15% on its IT budget. The solution is the first of its type to be accredited by the Institute of Chartered Accountants in England & Wales.
But it is the innovative Mercato software that powers theitindex.co.uk that looks set to be Probrands ongoing strategic growth model.
As Probrand continues to develop new online tools that apply Mercato web technology to a host of commerce areas from e-CRM through to price policing, this has seen further value added to its growth. The new technologies also take Probrands offer into sectors outside of IT.
Stephen Bushell, Probrand Group Head of new business, said: "In business you have to innovate and this is what we have been doing since we introduced theitindex.co.uk some years ago. The Mercato technology that powers theitindex.co.uk continues to help us and the vendors grow against a sector that still remains flat.
Organisations are looking for best priced IT within the shortest possible time and we continue to deliver just that. It is our innovation that has seen the public sector switch on to the bottom line savings theitindex.co.uk can offer with approval to the OGCbuying.solutions Catalist framework.
Additionally, the ongoing development of our suite of online Mercato solutions that touch almost every aspect of commerce functionality, from sales to purchasing, continue to work hard for us as both private and public sector organisations look for efficiency savings to add value to the bottom line.
Financial Directors, IT Managers and procurement professionals alike are reaching for the time and money savings alongside a clear audit trail delivered by our proven solutions. This includes a record of all transactions and RFQ communication with suppliers.
Functionality that is now required after the DTI took a lead from US Sarbanes-Oxley legislation and expanded its demands for reporting compliance in the Operating and Financial Review (OFR) of 2005.
We are looking to focus on our cross-sector in-direct procurement, e-crm and price comparison modules well into the future with a view to hitting 20M by the end of 2006."