BU partnership increases profitability

23 July 2008

A local business has reported a significant increase in turnover and savings thanks to a successful partnership with BU.

Isle of Wight-based company Strainstall Group Ltd has reported a significant increase in turnover and savings following the successful completion of a Knowledge Transfer Partnership (KTP) with BU.

Academic support from our business development expert Keith Hayman, and skills from graduate placement Kelly Potter, have helped the company, a world leader in load measurement, strain and stress determination, to develop and implement effective systems and procedures which support procurement and contracts.

One of the most successful outcomes from the KTP, an effective contract review mechanism, has helped to reduce Strainstall’s financial risk considerably by significantly cutting tendering response time. This has increased the company’s turnover and profitability and also improved their reputation.

With the help of government funding, Knowledge Transfer Partnerships place a graduate into a company to undertake a project of strategic importance for between 18 to 36 months, to provide academic support from an appropriate University with the required specialist skills.

Karen Lucas is the finance director of Strainstall Group Ltd. She said: “This KTP proved to be very useful for Strainstall Group Ltd. BU was able to supply valuable knowledge and insight that helped us to shape our thoughts regarding risk management. As a result we now have systems in place which we can use to move our business forward with improved efficiency when tendering for work.”

BU graduate Kelly Potter said: “For me, this KTP was excellent as it combined theoretical support from the University, with practical applications from the company. My knowledge and understanding of this area of work has greatly developed as a direct result, and I feel confident about my ability to offer real value to Strainstall Group Ltd.”

BU has over 20 years experience of running KTP programmes with over 70 local businesses. For further information please contact BU’s KTP Centre on 01202 965926 or visit our Knowledge Transfer Partnerships page.