well7 Mar 2017 23:17
Investers have a second chance to get in cheap first thing tomorrow before this really takes off, BLUR's sentiment is certainly going to change now for the good, looking forward to the next few weeks here.
blur soars as it closes in on landmark customer win
Share
15:05 07 Mar 2017
The shares rocketed on news that more than a year's worth of work looks like paying off in the form of a big customer signing up
Circuit board
The customer was not named ... but it sounds like it's a biggie
Shares in blur Group PLC (LON:BLUR) were the best performers in London Tuesday as the group moved a step closer to adding a big name to the user base.
Shares were up 150% at 17.14p in afternoon trading, having risen as high as 26.5p at one point, after the e-commerce enabler said it had entered into final negotiations with a global electronics group for a multiple six figure on-boarding programme across three territories.
It has been a prolonged courtship. Blur revealed it has worked with this prospective customer for more than a year, defining and tailoring a programme that seeks to embed the benefits of blur's indirect spend platform into the electronic group’s current business processes.
All being well, the negotiations should conclude in the coming weeks.
"Our solution is easy and quick to implement, delivering improved efficiency and transparency to procurement processes,” said Philip Letts, chief executive officer of blur.
"We are committed to delivering a successful programme for this client and to deepening our partnership with them in the long term," he added.
Proactive Investors called Tim Allen, chief financial officer, expecting to hear party poppers and clinking glasses in the background, but Allen said he was keeping his feet on the ground.
“It’s best not to get too down when things don’t go well and too excited when things do,” was the gist of the message from Allen, who possibly had a copy of Rudyard Kipling’s poem “If” by his side as he spoke.
More seriously, Allen said the unnamed electronics group was just one of a number of big companies – “household names in some circumstances” – that the group was speaking to about helping them reduce their indirect spend.
Allen was even kind enough to explain the difference between direct spend – things such as raw materials and marketing expenditure – and indirect spend – largely those support functions, such as information technology.
“The established players in the market are focused on direct spend, but we offer enterprises something not readily available in the market, which is the chance to substantially reduce indirect spend,” Allen said.
Blur’s proposition appeals because in many cases, especially in large corporations, it is difficult to get a handle on just how