Commentary

The value of confidence outweighs a focus on price

Commentary - 22 Jan 2020

The value of confidence outweighs a focus on price

 
By Bill Main, Financial Director
Commentary author

By Bill Main

Financial Director

No matter what stage of the boom and bust cycle the offshore energy is going through, the subject of cost, price and value remains a priority when it comes to deciding upon supplier suitability for projects.

If we take the well known definition of these terms – sometimes erroneously interchanged – it is useful to remember that price is what you pay for products or services, cost is the amount of input incurred in producing those goods or services, while value is what those products or services provide in return, ie, their worth.

Balmoral is recognised for its philosophy of continuous investment. We invest in our expert and specialist engineering capabilities and people; our extensive production capacity and our custom-built research and development laboratory and testing facilities – known collectively as the Balmoral Discovery Unit.

What is of real significance however, is the value of confidence this investment brings to our clients. Ranging from total control of quality and delivery, through to our vertical integration of design, manufacturing and product development, the value of client confidence that we offer far outweighs the return and focus on lowest price.

Our 40 years of experience in the global industry means that we absolutely understand the importance of cost of ownership and, indeed, the pressure on achieving a return on project investment.

However, we also believe that prudence and a duty of care is essential around supplier selection and, when it comes to price, the value of confidence and risk mitigation is irrefutable.

CONTACT US TO FIND OUT HOW WE CAN HELP SOLVE YOUR CURRENT TECHNICAL CHALLENGE
Please complete this field
Please complete this field
Please complete this field
Please complete this field
Please complete this field
Please complete this field
Please complete this field
YOU MAY BE INTERESTED IN...

Balmoral Comtec Ltd
Balmoral Park, Loirston, Aberdeen AB12 3GY | +44 (0)1224 859000 | surety@balmoral.co.uk
Registered number SC301819

© Balmoral Comtec Ltd Legal

Search