Two procurement executives have teamed up to create a new company aimed at helping businesses in Bermuda improve their bottom lines.Sonia Pearman has more than 20 years experience working in a procurement capacity in Bermuda and Canada for international companies and also with government entities, while Vic Ball has nearly 18 years experience in the procurement industry working with the Government, in the Office of Project Management and Procurement, as well as with private firms. Together they have created Strategic Procurement Solutions Bermuda (SPS).From international companies buying paper, office furniture, computers and phones, to small retail shops bringing in tourist wares, SPS can help businesses with the supply chain process.“We assist in the management of the whole supply chain — from ordering to inventory to receipt of goods, payment, delivery and sales,” explained Mr Ball.Many companies don’t have a dedicated procurement executive, which means purchasing responsibilities might fall to an accountant, owner, office manager or even a receptionist.“The responsibilities sometimes fall to anyone that has time,” the pair said, which can hurt a company’s bottom line if buying can be done less expensively or more efficiently.Companies need to look “at the total cost of buying something because a lot of people will just look at the immediate cost but haven’t thought about the transportation to get it here, the duty, the labour — even from the perspective of an internal staff member. That’s where we try to assist,” said Ms Pearman.“I don’t think a lot of businesses are really strategic about their supply management and procurement,” she added. “They could really improve their bottom lines if they paid more attention to that area. We try to train people in purchasing practices as well as assisting them in improving their business by getting the best value out of the process.”SPS Bermuda also offers consortium buying where a small client can be grouped with other small clients to bring in goods at a better price.“It’s where one small supplier doesn’t get the best price because he doesn’t have a lot of volume but if we get groups of small suppliers and put them together we can get better pricing for them on their behalf,” said Mr Ball.“That’s why we think prices are so high in Bermuda, there isn’t that strategic buying,” added Ms Pearman. “Companies are picking up the phone and paying the quoted price from the vendor. There’s little negotiation involved and that’s what we do.”SPS Bermuda is also used to dealing with different countries, their currencies and their business practices.“There is so much involved in procurement,” said Ms Pearman. “You have to know the culture of the country that you are purchasing from, how they do business and the dos and don’ts.”To help educate clients and to celebrate the launch of their company, SPS Bermuda is bringing in supply chain expert Norbert Ore on April 9 and 10, who is globally known for his expertise in the industry. For the past 15 years he has served as the chair for the Manufacturing Business Survey Committee which produces a monthly economic report that is recognised as a leading health indicator of the US economy.Going forward, the company hopes to offer quarterly seminars.“We just hope at the end of the day that Bermudian businesses see the value in what we’re doing and what we can offer them,” explained Ms Pearman. “We’re here to educate at the same time while assisting clients to improve their bottom lines.”For more information on SPS Bermuda and the seminar, visit the website www.spsbermuda.bm, or e-mail vball@spsbermuda.bm or spearman@spsbermuda.bm.