Commentary

The value of innovation, trust and confidence over cost

Commentary - 22 April 2020

The value of innovation, trust and confidence over cost

 
By Gary Yeoman, Sales Director
Commentary author

By Gary Yeoman

Sales Director

At these testing times, I would like to share my views regarding the issue of value over cost, embracing new technology, being open to new ideas and fresh thinking.

In every market we operate in, from oil and gas to renewable energy and defence, the issue of cost, price and value is a top priority. As a reminder, price is what you pay for products or services; cost is the input incurred in producing goods or services, while value is what those products or services provide in return.

We know that Balmoral’s strategy of continuous investment in people, facilities and plant provides our clients with confidence in our capabilities – our customer feedback confirms this repeatedly.

Balmoral also works hard to build trust with clients, something that is equally acknowledged in our customer surveys. Clients know that we do everything we can to help make their projects viable. We are renowned for our problem solving abilities and this is best achieved through early engagement.

We have repeatedly managed to shave costs off project budgets through our collaborative and innovative approach. As you trust your doctor or dentist, similarly you can rely on Balmoral to offer the optimum solution for your buoyancy, protection and insulation challenges.

It may not be what you had in mind but, with us on board, we believe we can offer the best cost reducing through-life solutions. This of course requires a new approach, an openness to new ideas.

In challenging market conditions, new thinking must be embraced – we cannot do things as they have always been done and expect a different outcome – new solutions and technology must be considered, all ideas laid on the table.

Yes, this takes a certain amount of courage but our record of research, development and innovation, most recently witnessed through the Balmoral Discovery Unit, has paid dividends for our clients through the application of new and innovative thinking.

Talk to us; ‘help us to help you’, is really the message here. We are continually developing new ideas across our full portfolio of product solutions.

As an independent company, our continuous investment philosophy provides several distinct advantages including total control of quality and scheduling, full vertical integration spanning product development, engineering design, manufacturing and testing.

We firmly believe the joint values of trust, confidence and revolutionary thinking far outweigh a focus on price. With 40 years of industry experience we fully understand the importance of cost of ownership and, indeed, the pressure on achieving a return on project investment.

However, we also believe that shrewd judgment and a duty of care is essential around supplier selection. In all our years of operation, there has never been a more critical time for early engagement and smart specification. If you would like to discuss further, please feel free to contact me on this platform or at This email address is being protected from spambots. You need JavaScript enabled to view it..

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