Hoffmann Group UK, a leading system partner for quality tools, workstations and personal protective equipment (PPE), is introducing the Guaranteed Savings Plan (GSP), a new industry-first offering to existing and prospective customers.

It 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%.

If Hoffmann Group UK is unable to save the customer 10%, they will hand them a cheque at the end of the 12-month period for the amount agreed, hence the proposal being called the Guaranteed Savings Plan. Operational savings can be generated from discounted piece price, improved vending systems and more.

Though the GSP will officially be launched next week at Subcon - one of the UK’s leading sub-contract manufacturing supply chain shows – businesses are already signing up to the groundbreaking scheme.

Tim Paddison, Hoffmann Group UK managing director (pictured), said: “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% saving for any customer that can meet the threshold, thereby guaranteeing that the customer acquires that spending. The fact that the first 10% of savings is guaranteed means the GSP comes at no risk whatsoever for the customer.”

Mr Paddison added: “Although the 10% saving is underwritten and thus guaranteed, we don’t stop there. The savings potential is uncapped and our target is to achieve 20% cost reduction for every customer.

“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 concluded: “Once a customer has hit the 10% saving target, even if that is in the first month, the customer continues to benefit from further savings as it is not capped. With a simple set-up 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.”