We've recently delved into the world of movers, shakers and technology makers. Our 'Competitive Advantages with Technology' event, held in conjunction with Vertical Matters, questioned the value of collaboration in the Australian business scene.
The truth is, Australia is ranked last out of 33 countries in the OECD for collaboration.
In 2013, Westpac released a survey of 1000 respondents who were asked to define what makes a typical Australian. The top answer was ‘mateship’. We’re a society that recognises individual achievement rarely occurs without a helping hand from others, whether in the latest Rugby match or the recent floods on the Eastern Coast. So why hasn’t this translated to our business sector?
What is the value of collaboration?
Grant Peden, a Growth Services Adviser and Supply Chain Facilitator currently working in the Entrepreneur’s Infrastructure Programme at the Department of Industry and Science, found that businesses with a collaborative strategy are; twice as likely to outgrow their competitors and more likely to improve their profit.
His findings indicate that when employees collaborate:
- They work 15% faster, on average;
- 73% do better work;
- 60% are innovative; and
- 56% are more satisfied
Still not convinced?
Victoria based earthmoving supplier Starbuck & Son re-signed with PlantMiner for a second year in April 2015, with an up-to-10 items subscription. In less than a month’s time, our procurement platform has helped Starbuck secure hundreds of thousands of dollars worth of plant hire work.
It pays to adopt a collaborative outlook in business.
Starbuck immediately contacted the person who submitted the rate enquiry, a manager from a skip bin company, and truly discussed the parameters of the hire. Through hashing out a cost-benefit analysis, they found it was more economic to use a truck & dog a few days a week as opposed to continually bringing their bins back from job sites. With one conversation, Starbuck offered a solution to the hirer and turned a one off three day dry hire job into an agreement that will see him do two days wet hire per week. With no end in sight, the contract has been worth $15,000 and counting in plant hire work.
Last year, Starbuck & Son picked up work with a recurring PlantMiner searcher and built a promising relationship. So, when the same searcher used PlantMiner to source equipment for a bulk earthworks project in Officer, Victoria, Starbuck was able to act quickly on our information and secure a three month contract worth approximately $200,000.
For plant hire companies, an opportunity to quote on one job should be considered as part of a bigger picture. Starbuck’s ability to collaborate and build relationships with plant and equipment seekers has meant that small leads have turned into large returns.
PlantMiner's service has expanded my client network, leading to strong, relevant relationships and ongoing work for my company - Jimmy Starbuck, Owner, Starbuck and Son
PlantMiner’s driving force is our ability to meet the needs of both the people looking to hire plant & equipment, and plant hire suppliers. Our team heavily collaborates with both parties on the hire spectrum, which helps connect plant and equipment seekers with suppliers that have exactly what they need.
The 'Competitive Advantages with Technology' event, one of many networking opportunities with PlantMiner, raised many interesting concepts as to the evolution of a successful business.
Tap into PlantMiner’s generous resources by registering your interest today. Our experienced team may be the key to securing your next big project.