Blur Group launches its online marketplace

Blur Group, the market-leading indirect spend platform and marketplace, has successfully integrated its services online.

The online marketplace allows organisations to source goods alongside business services for the first time.

"This expansion is the next step in Blur's evolution and a key pillar of the Blur 6.0 development roadmap. It reflects our increased perception of market readiness to adopt blur's online marketplace as a strategic platform for all categories of indirect spend, not only business services,” said chief executive Philip Letts.

A new pilot was also initiated with a global electronics/technology company during the quarter.

According to the board the group’s enterprise focused strategy continues to drive improvements to earnings before interest, tax, depreciation and amortisation (EBITDA), costs and cash burn.

It was the fourth consecutive quarter of improved underlying cash burn, down by 11% to $1m in the third quarter from $1.1m in the second quarter. In addition $0.4m relating to R&D tax credit was received in the period yielding net cash burn of $0.6m.

EBITDA continued to be in line with management expectations and operating costs were down by 23% compared to the second quarter of 2016. Cash at the end of the third quarter was $3.6m.

Project numbers, however, fell due to summer seasonality exaggerated by delayed decision making following the outcome of the EU referendum.

The company has also appointed new chief commercial officer Laurence Cook.

Chief executive Philip Letts said: “Laurence's deep understanding of the Enterprise software market combined with the opportunity presented by blur's innovative indirect spend solution will enable the Group to press ahead with its plans to achieve multi-million dollar roll outs of our platform in larger organisations.”