As part of the ongoing programme for growth, Aspin is introducing supplier frameworks, preferred supplier status and industry-standard payment terms.
The planned move follows significant new investment and changes to the business structure announced earlier this year that will provide a more integrated service delivery for the rail, highways and infrastructure sectors.
Supplier meetings have been held to explain the move which is designed to help Aspin achieve its growth programme and share the success with its core, trusted suppliers.
It’s part of a wider programme of investment and change that includes an operational restructure, new appointments to the senior executive team, project management and sales teams and the opening of a new office in Scotland.
Supplier payment terms are being standardised at 60 days net to match the industry credit terms for equality across the operations, explained Iain Sale, Aspin’s Chief Financial Officer.
“We have ambitious growth plans but have worked with differing forms of contract in the past so this is part of our strategy to align our operations for greater equality. Aligning our supplier payment terms with that of our customer base which is predominantly the Tier One contractor sector makes sound business sense. Ultimately it means that all our stakeholders can share in the future growth and success,” he said.
Aspin CEO, Russell Ward added:
“In March of this year we secured the support of Sandton Capital Partners and have a secure financial base that’s critical in future-proofing our ambitious plans for the business. Our planned programme of change so Aspin works as one to deliver more of what our clients want is ongoing and more developments will be announced in due course,” he said.
Aspin operates across the UK, employing some 240 people and has its head office in Hemel Hempstead, Hertfordshire supported by other centres in the Midlands, the north and Scotland. Its work for organisations such as Network Rail and Highways England and major infrastructure contractors includes four key areas which have been classified as the ‘four pillars’. These are engineered solutions, consulting and design, foundations and piling and inspections and investigations.