Hoffmann Group UK introduces guaranteed customer savings scheme in industry first
The Guaranteed Savings Plan (GSP) will see the tool specialist offer existing and prospective customers generating £30,000 additional revenue an underwritten 10 percent saving
Hoffmann Group UK, a leading system partner for quality tools, workstations and Personal Protective Equipment (PPE), is introducing a new, industry-first offering to existing and prospective customers labelled the Guaranteed Savings Plan (GSP).
The GSP will be made available for customers that can generate £30,000 additional revenue with Hoffmann Group UK over a 12-month period and, in return, the industrial tooling and equipment specialist will guarantee savings of 10 percent.
In what is a ground-breaking move, if Hoffmann Group UK is unable to save the customer 10 percent, they will hand them a cheque at the end of the 12-month period for the amount agreed, hence the proposal being dubbed the Guaranteed Savings Plan. Operational savings can be generated from discounted piece price, improved vending systems and more. Businesses are already signing up to the game-changing scheme.
Tim Paddison, MD of Hoffmann Group UK, says: “The concept of offering savings for high-volume contracts is not a new one. However, where we believe GSP is unique is underwriting the minimum 10 percent saving for any customer that can meet the threshold, thereby guaranteeing that the customer acquires that spending. The fact that the first 10 percent of savings is guaranteed means the GSP comes at no risk whatsoever for the customer.”
Although it is the promise of a 10 percent saving that makes the GSP a unique, attractive proposition, Hoffmann Group UK is keen to emphasise that this is a minimum target.
Tim Paddison adds: “Although the 10 percent saving is underwritten and thus guaranteed, we don’t stop there. The savings potential is uncapped and our target is to achieve 20 percent cost reduction for every customer.”
News of the GSP is set to cause a stir across an industry that is looking for ways to boost productivity against a backdrop of a sector-wide skills gap and labour shortage.
Tim Paddison says: “The GSP is part of Hoffmann Group UK’s broader growth strategy but it is also an attempt to stimulate growth across the industry. We are breaking the mould by putting our money where our mouth is. No other company is offering to underwrite potential savings on this scale.
“We also want to use the GSP as a way of forging long-term and trusted relationships with our customers. Through the plan, we can help them reap all different kinds of benefits, from reduced acquisition costs to slashing labour costs by consolidating the supply chain.’’
He concludes: “And, once a customer has hit the 10 percent saving target, even if that’s in the first month, the customer continues to benefit from further savings as it’s not capped. With a simple setup process to complement the guarantee, our message to customers is quite simple; why wouldn’t you take advantage? You have nothing at all to lose and everything to gain.”