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The Indirect Spend Management platform February 2017 blurgroup.com © 2017 blur Group PLC

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blurgroup.com   ©  2017  blur  Group  PLC  

The  Indirect  Spend  Management  platform

February  2017

blurgroup.com   ©  2017  blur  Group  PLC  

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Agenda

1. Why  blur?

2. The  Indirect  Spend  Market  Opportunity

3. blur’s  Solution  -­‐ blur  6.0  &  7.0

4. Customer  Economics

5. H2  2016  Highlights  &  Key  Financials

6. Growth  Strategy  &  Investment  Summary

7. Appendices

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Why  blur?

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Corporate  Snapshot

● AIM-­‐listed  blur  operates  the  market-­‐leading  Indirect  Spend  Platform  &  Marketplace

● Works  closely  with  large  Enterprise  customers

● Up  to  20%  cost  savings  per  transaction;  access  to  65,000+  world-­‐class  vetted  suppliers

● Estimated  global  cost  of  Indirect  Procurement  waste  up  to  $2.28T

● Management  team  with  extensive  experience  in  Enterprise-­‐grade  Cloud  software  solutions

● Growth  will  be  driven  by  wide  adoption  of  blur’s  Cloud  software  platform  in  large  Enterprises

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1.  Why  blur?

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blurgroup.com             ©  2017  blur  Group  PLC  

The  Indirect  Spend  Problem

● Sourcing  and  Procurement  under  constant,  increasing  pressure  to  reduce  costs

● Corporations  focusing  on  high  value  procurement  at  strategic  (usually  direct)  spend  

● Organisations  make  large  volumes  of  smaller  purchases,  unmanaged  by  Procurement

● Small,  unmanaged  purchases  carry  a  higher  risk  of  procurement  waste  or  fraud

Focussing  on  improving  Indirect  spend  management  can  save  companies  around  20%  in  costs  and  15%  in  management  time

5

1.  Why  blur?

Unmanaged  indirect  spend  has  a  highlevel  of  procurement  waste

Fraud

Excessivemanagementcosts

Unmanagedcontracts

Maverickspending

blur  analysis  of  proportion  of  waste  in  Indirect  Spend

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blurgroup.com             ©  2017  blur  Group  PLC  

Customised  Managed  ServicesCustomers  able  to  choose  from  a  range  of  service  options

blur’s  Unique  Business  Model 1.  Why  blur?

6

Marketplace>65,000  vetted  suppliers  compete  for  business

Software  PlatformEnterprise-­‐grade  functionality  in  easy  to  implement  Cloud  solution

Enterprise  customer

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Proven  and  established    global  supplier  vetting  processes

Transparency  and  control  across  all  uncontracted  spend  

Compliant  sourcing  and  delivery  for  goods  and  services    

Low  cost,  scalable  setup  with  simple  user  interfaces

blur’s  Marketplace:  specifically  designed  to  meet  the  needs  of  Indirect  Procurement    

● One  end-­‐to-­‐end  software platform  spanning  procurement  across  all  indirect  spend  ● Cloud  software  and  managed  service  allows  full  outsourcing  of  indirect  spend● Advanced  enterprise  software  including  sourcing,  bid  management,  projectmanagement,  payment  and  reporting

The  Cloud-­‐Based  Solution  for  Indirect  Procurement

7

● Cloud-­‐based  software  platform● No  system  integration  required  in  early  roll  outs● Easy-­‐to-­‐use,  multi-­‐tiered  user  interface● Accessible  from  anywhere:  desktop,  laptop,  mobile  or  tablet

● Spend  analysis  of  historical  transactions● Benchmarking  against  existing  spend● Real-­‐time  reporting  on  budget  approvals  and  spend  activity

● Consolidated  management  of  >65,000  suppliers  on  blur’s  marketplace  ● Supplier  selection  driven  by  blur  Sense™,  a  proprietary  algorithm  using  machine  intelligence● Continuous  vetting  through  customer  feedback  and  blur’s  Customer  success  team  review

1.  Why  blur?

blurgroup.com   ©  2017  blur  Group  PLC  

The  Indirect  Spend  Market  Opportunity

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Estimated  Global  Cost  of  Indirect  Procurement  Waste  – up  to  $2.28T

● Enterprises  that  do  not  employ  spend  analytics  regularly  miss  10-­‐15%  in  savings(AMR  RESEARCH)

● Better  procurement  could  save  32.3m  hours  and  $1.5B  per  year  in  North  America  alone(TOPLINE STRATEGY GROUP)

● An  effective  procurement  strategy  provides  savings  year  after  year

● Cost  reduction  is  the  No.  1  strategic  imperative  for  CEOs  in  2016  and  beyond(KPMG)

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2.  The  Market  Opportunity

Procurement  Waste  Reduction  -­‐ Best  Practice

● Smart  Spend  Management● Rightsourcing● Sharing  Economies/Online  Platforms

Immediate  actions:

● Implement  a  competitive  bidding  structure● Go  digital● Educate  staff  about  fraudulent  activities● Create  strong  supplier  relationships● Implement  a  business  services  catalogue

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transformational Application PaaS(aPaaS)

Multidomain MDMSolutions

Multienterprise GridFunctionality

high Contingent WorkforceVendor Management Systems

Electronic Signatures

Procurement Networks

Contract Life Cycle Management

E-invoicing

Procure-to-Pay for Indirect Spending

Sourcing Optimization

SOW Services P2P Solutions

All-in-One Supply Collaborations Platforms

Solution-to-Pay BPO

Gartner  2015  – Priority  Matrix  for  Procurement  and  Sourcing  Solutions

10

benefit years  to  mainstream  adoption

Less  than  2  years 2  to  5  years 5  to  10  years More  than  10  years

2.  The  Market  Opportunity

as  at  August  2015

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blurgroup.com             ©  2017  blur  Group  PLC  

transformational Application PaaS(aPaaS)

Multidomain MDMSolutions

Multienterprise GridFunctionality

high Contingent WorkforceVendor Management Systems

Electronic Signatures

Procurement Networks

Contract Life Cycle Management

E-invoicing

Procedure-to-Pay for Indirect Spending

Sourcing Optimization

SOW Services P2P Solutions

All-in-One Supply Collaborations Platforms

Solution-to-Pay BPO

Gartner  2015  – Priority  Matrix  for  Procurement  and  Sourcing  Solutions

11

benefit years  to  mainstream  adoption

Less  than  2  years 2  to  5  years 5  to  10  years More  than  10  years

2.  The  Market  Opportunity

as  at  August  2015

Moderate Strategic Sourcing Suites

Suppier Portals

Data Quality for Purchased Parts

Dynamic Discounting

Enterprise Legal Management

Indirect Sourcing & Procurement BPO

Information Exchanges

IT Vendor Risk Management

Mobile Procurement Applications

MRO Procurement Solutions

Commodity Trading and Risk Management

Freelance Management Systems

Project P2P Solutions

Source-to-Settle Solutions

Supply Event Monitoring

Sustainable Sourcing and Procurement

low

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Only  good  for  catalogue  based  goods  and  services

Gartner  Indirect  procurement

12

2.  The  Market  Opportunity

COUPA

ARIBA (SAP)

BASWARE

VERIAN

JCATALOG

B-­‐PACK

SCI-­‐QUESTI-­‐VALUA

PURIDOMCAPGEMINI IPX

ELCOM

ORACLEE-­‐BUSINESS SUITE

PERFECT COMMERCE

GEPWAXDIGITAL

ORACLE PEOPLESOFT

PROACTIS

MERCADO ELECTRÔNICOSAP SRM

BIRCHSTREETSYSTEMS

Challengers Leaders

Niche  Players Visionaries

blur

COMPLETENESS OF VISION

ABILITYTO

EXEC

UTE

Source: Gartner  (March  2015)

blurgroup.com   ©  2017  blur  Group  PLC  

blur’s  Solution  blur  6.0  &  7.0

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blur  6.0  Software  Platform  Architecture

Core  Platform  Services

www.blurgroup.com

Application  Services Goods  &  Service  Processing

SupplierCustomerblur  Servicesblur  Sense  ™Dashboards

3.  blur  6.0  &  7.0

14

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blur  6.0  – Enhancing  the  Enterprise  Feature  Set

15

3.  blur  6.0  &  7.0

Goods  and  ServicesGoods  added  to  the  Marketplace  for  the  first  time.  blur  now  provides  complete  

Indirect  Spend  platform

Multi-­‐user  Account  ManagementIntroduce  company  accounts,  manage  users  within  an  account,  set  user  groups  and  roles,  account  budgets,  user  permissions  for  submitting  and  managing  projects,  and  workflow  approvals

Management  ReportingSpend  and  project  progress  reporting  including  total  project  spend  on  an  account,  group  and  individual  user  basis,  and  drawdown  reports  of  

spend  against  proposed  budgets

Universal  Dashboard  1.0Single  dashboard  for  users  to  buy  and  sell  

goods  and  services,  as  well  as  managing  their  account  and  all  of  their  projects

blur  Sense  3.0Improved  automation  of  service  provider  shortlist  and  pitch  ratings  as  well  as  automated  selection.  Search  improvements  with  tagging  in  user  profiles  

and  briefs

Turning  suppliers  into  buyersAdding  simple  one  click  customer  account  creation  for  suppliers  and  simple  switching  between  buyers  

or  sellers  dashboards

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blurgroup.com             ©  2017  blur  Group  PLC  

3.  blur  6.0  &  7.0

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blur  7.0  

NetSuiteIntegration

Mobile  App  2.0

Advanced  Reporting

blur  Sense  4.0

Platform  API2.0

Unified  Supplier  sign  up

Advanced  Messaging

Advanced  Roles  &  Permissions

Enhanced  PlatformPerformance

Detailed  Company  Functionality

Catalogues

UniversalDashboard  2.0

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Customer  Economics

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www.blurgroup.com

Multiple  Routes  to  Market 4.  Customer  Economics

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Customers  visit  blur  website

Inbound Partnership

Resell  /  white  labelRe-­‐sell  /

white  label

Partnership

Spotblur’s  inside  sales  desk  targets  

mid-­‐sized/  verticals

SpotPlatform

blur’s  Enterprise  sales  team  targets  large  corporates

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Optimising  Mid-­‐market  buyer  base  while  developing  Enterprise  Platform  opportunities

blur  Customer  Profile

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Customers’  Annual  Revenue

Number  of  projects  per  account  per  annum

$1bn $2bn

300

500

1,000

5,000

100

$500m$100m

Mid-­‐market  buyers

Large  Enterprise  customers  

Telemarketing/Inside  Sales   Enterprise  Sales

$5bn+

4.  Customer  Economics

Source:  blur  research

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blurgroup.com             ©  2017  blur  Group  PLC  

Multiple  Revenue  StreamsRevenue  stream Nature  of  revenue GM  %

Access  -­‐ Single  User  Access  Fee Charged  at  commencement  of  project  -­‐ 10%  of  project  value 100%

Access  -­‐ Buyer  Subscription Group/Enterprise/Ultimate 100%

Access  -­‐ Seller  Subscription Standard/Professional/Enterprise 100%

Project  revenue  (Services)-­‐ blur  acts  as  principal

Supplier  cost  plus  transaction  fee  =  project  revenue 20%

Project  revenue  (Goods)-­‐ blur  acts  as  agent Transaction  fee  =  revenue 100%

Premium  Services blur  Manage  Ultra,  Express,  Protect  Advanced,  Engage  ~  10%  of  project  value 100%

GM  %  is  quoted  before  the  deduction  of  delivery  staff  costs

4.  Customer  Economics

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Onboarding

Time

Users

Transactions

Spend

3  months

Up  to  10

30-­‐50+

Up  to  $1M

Trial  Supplier  Management

Structure

Enterprise  Customer  Roll  Out

21

Roll  Out  1 Roll  Out  2

12  months

5-­‐15  

Single  Function/Single-­‐Country/Spend-­‐Category

$1M-­‐$3M

Shared  Supplier  Management

Multi-­‐year

15+  

Multi-­‐Function/Multi-­‐Country/Multi-­‐Category

$3M+

OutsourceSupplier  Management

4.  Customer  Economics

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blurgroup.com             ©  2017  blur  Group  PLC  

Potential  Savings  in  Indirect  Spend  

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Sector Revenue Indirect  SpendPotential  Savings

Alcoholic  Beverages $7,110m $2,407m $116m

Broadcasting,  Media  &  Cable  TV $5,660m $2,270m $109m

Apparel,  Footwear  &  Accessories $3,301m $1,260m $60m

Oil  &  Gas  – Integrated  Operations $3,400m $1,030m $48m

Biotechnology  &  Drugs $1,417m $660m $31m

Internet  Services  &  Social  Media $1,400m $542m $26m

Consumer  Financial  Services $1,353m $420m $20m

Print  Media  &  Newspaper  Publishing $221m $73m $4m

Educational  Services $210m $62m $3m

4.  Customer  Economics

Key  early  Enterprise  verticals  include:● Consumer  Goods/FMCG● TMT● Public  Sector● Professional  Services

Source:  blur  research

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0

10

20

30

40

50

$  Millions

Annual  Revenue GM

blur  Scales  on  Platform  Roll  Outs

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4.  Customer  Economics

#  Mid  -­‐market  

customers

#  Platform  customers  

(MED)

#  Platform  customers  

(LGE)

Annual  revenue

($M)

Annual  GM($M) GM  %

10 1 1 8.3 2.1 25.0

15 3 1 13.4 3.3 24.7

20 5 2 22.3 5.5 24.5

30 10 5 45.7 11.1 24.3

GM%  is  quoted  before  the  deduction  of  delivery  staff  costs

10 15 20 30

1 3 5 10

1 1 2 5

# Mid  -­‐ market  customers

#  Platformcustomers  (MED)

#  Platformcustomers  (LGE)

Example  customer  profilesMid  -­‐

marketPlatform

(MED)Platform

(LGE)

Average  no.  of  projects  per  month 4 15 30

Average  value  of  project  (USD) 5,000 10,000 10,000

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Q1  2017  Customer  Engagements

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4.  Customer  Economics

Mid-­‐market Large  Enterprise

Group  annual  buyer  plan  subscription taken  by  Ashfords,  a  Top  100  UK-­‐based  law  firm. Working  on  significant  multiple  six-­‐figure  order.

Working  on  onboarding  arrangements with  global  electronics/technology  Enterprise.

Europe’s  leading  manufacturer  of  powered garden  equipment,  Global  Garden  Products,  currently  ordering  through  platform.  Aiming  to  establish  blur  as  strategic  marketing  procurement  partner.

blur  continuing  to  work  with  global  sportswear retailer  on  initial  pilot  due  to  launch  in  2017.

De’Longhi,  a  leading  brand  in  home  appliances, is  currently  working  with  blur  on  a  strategic  new  product  launch.  Discussing  wider  rollout.

blur engaged  with  Head  of  Procurement  of  UK train  operating  group.  Discussing  6  month  pilot.

Discussing  extension  of  existing  projects  with  FTSE  250-­‐listed  multi-­‐channel retail  group.

Initial  discussions  with  procurement  team  at  FTSE 100-­‐listed  Energy  and  Services  company

Initial  order placed  by  Devon  County  Council.  Discussing  wider  rollout  of  blur’s  platform  across  all  marketing  activity.

Initial  discussions  with  procurement  team  at  global  Life  Science company

blurgroup.com   ©  2017  blur  Group  PLC  blurgroup.com   ©  2017  blur  Group  PLC  

H2  2016  Highlights  &  Key  Financials

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H2  2016  Operational  Highlights

● First  annual  subscription  to  Group  buyer  plan  by  Ashfords,  a  Top  100  UK  law  firm

● Goods  added  to  blur’s  Marketplace

● blur  engaged  with  several  large  corporates  working  to  successfully  conclude  pilots

● blur  6.0  development  completed  delivering  further  Enterprise-­‐class  functionality

● Fifth  consecutive  quarter  of  cash  burn  reduction

● FY2016  EBITDA  expected  to  be  ahead  of  expectations

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5.  H2  2016  Highlights

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0.0  

1.0  

2.0  

3.0  

4.0  

5.0  

H1  2015  (actual)

H2  2015  (actual)

H1  2016  (actual)

H2  2016  (analyst  forecast)

$  Millions

2015-­‐16  LBITDA

0.0  

1.0  

2.0  

3.0  

4.0  

5.0  

H1  2015

Q3  2015

Q4  2015

Q1  2016

Q2  2016

2015-­‐16  LBITDA  (quarterly  breakout)  

2016  Financial  Update● Four  consecutive  quarters  of  reported  LBITDA  improvement● Costs  reduce  as  efficiency  improves  – platform,  operational● FY2016  LBITDA  slightly  ahead  of  management  expectations

27

5.  Key  Financials

$  Millions

(H1,  H2  2015  audited,  H1  2016  unaudited)

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0.0  

1.0  

2.0  

3.0  

4.0  

Q1  2015

Q2  2015

Q3  2015

Q4  2015

Q1  2016

Q2  2016

$  Millions

2015-­‐16  Quarterly  Cash  Burn

2016  Cash  Flow

● Five  consecutive  quarters  of  reported  underlying  cash  burn  reduction

● Cash  at  end  of  Q4  2016  was  $2.5m  ($3.1M  at  constant  currency)

● R&D  tax  credits  2014  received  Q1  2016:  $0.5M2015  received  Q3  2016:  $0.4M

● Quarterly  burn  figures  exclude  FX

blur  has  zero  bank  debt

28

5.  Key  Financials

0.0  

1.0  

2.0  

3.0  

4.0  

5.0  

6.0  

H1  2015  (actual)

H2  2015  (actual)

H1  2016  (actual)

H2  2016  (analyst  forecast)

$  Millions

2015-­‐16  Cash  Burn

(H1,  H2  2015  audited,  H1  2016  unaudited)

blurgroup.com   ©  2017  blur  Group  PLC  blurgroup.com   ©  2017  blur  Group  PLC  

Growth  Strategy&  Investment  Summary

29

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Growth  Strategy

● Focus  on  large  Enterprises  who  prioritise  Indirect  Spend  

● Continue  to  expand  customer  base  via  multiple  channels

● Continue  to  build  quality  and  breadth  of  suppliers

● Attract  and  develop  top  technical  and  sales  talent

● Drive  profitable  growth  while  maintaining  efficiency

● Retain  first  mover  advantage  and  become  the  Indirect  Spend  platform  of  choice  for  large  Enterprises

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6.  Growth  Strategy

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blurgroup.com             ©  2017  blur  Group  PLC  

Investment  Summary● Large  market  opportunity  -­‐ Enterprises  increasingly  

recognise  the  need  for  systematic  control  of  Indirect  Spend● blur’s  technological  advantage  and  expertise  specifically  

honed  to  the  Enterprise  market● 8  years’  R&D  investment  in  a  unique  solution  to  the  Indirect  

Spend  market;  Goods  and  Services  plus  Managed  Services● blur  is  poised  for  growth  driven  by  Enterprise  customers  

widely  adopting  its  Indirect  Spend  platform● blur  will  scale  efficiently  as  platform  rollouts  progress

Management  are  confident  that  with  clear  growth  potential,  and  rigorous  focus  on  cash  and  cost  control,  the  business  will  move  to  sustainable  profitability.

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6.  Investment  Summary

blurgroup.com   ©  2017  blur  Group  PLC  

Questions?

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blurgroup.com   ©  2017  blur  Group  PLC  

Appendices

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blurgroup.com             ©  2017  blur  Group  PLC  

Plc  boardDavid  Sherriff  – Chairman  and  Lead  Independent  Director  David  started  his  working  life  as  an  Officer  in  the  British  Army.  During  his  early  business  career  David  worked  in  sales  roles  for  RR  Donnelly  and  then  Hoskynswhich  got  acquired  by  CapGemini where  he  started  the  development  of  the  Telecoms  sector  in  the  UK.  In  1993  David  joined  ECsoft Group,  which  he  grew  to  500  staff  in  three  years.  The  ECsoft Group  undertook  an  IPO  in  1995  on  NASDAQ  and  then  a  full  listing  on  the  LSE  in  1997.  David  was  the  UK  Managing  Director  from  1996  until  leaving  in  late  1998.  David  joined  Kaisha  Ltd  a  Business  Intelligence  Company  in  1999  which  was  then acquired  by  Microgen  plc.  He  was  appointed  Chief  Operating  Officer  of  Microgen  plc  in  2005  and  in  2011  was  appointed  Chief  Executive  Officer  of  Microgen  managing  both  the  Group  and  the  Aptitude  Solutions  Division.  In  August  2013  David  announced  that  he  was  retiring  from  full  time  executives  roles  and  would  be  pursuing  a  career  in  agriculture  as  well  as  undertaking  non  executive  directive  roles  with  select  UK  based  technology  companies  such  as  blur  Group.

Philip  Letts  – Chief  Executive  OfficerPhilip  has  run  a  string  of  high  profile  web  ventures  operating  across  the  US  and  Europe  including  an  established  Silicon  Valley  venture.  Philip  co-­‐founded  Beenz.com  in  1998,  an  internet  currency  programme.  By  mid-­‐2000,  the  business  was  valued  at  $300  million  in  a  transaction  led  by  Philip  just  prior  to  him  being  recruited  to  run  Tradaq Inc.  Beenz.com  was  sold  privately  in  2001  to  a  US  corporation.  In  2000,  he  became  CEO  of  Tradaq,  formerly  Internet  Barter  Inc,  which  became  a  part  of  a  public  company  post  merger.  Following  this  he  was  CEO  of  Surfkitchen which  was  later  sold  to  SymphonyTeleca.  Philip  then  decided  to  focus  on  a  new  enterprise,  wanting  to  embrace  the  Open  Source  software  principles  whilst  creating  a  game-­‐changing  business  – this  became  blur  Group.

Kara  Cardinale – Chief  Delivery  OfficerKara  is  a  US  entrepreneur  with  experience  in  the  design  and  media  industry.  She  started  her  career  in  public  relations  and  marketing  at  Bergdorf  Goodman,  New  York  and  Giorgio  Armani.  She  then  moved  to  Italy's  second  largest  press  agency  and  spearheaded  their  growth  into  corporate  video  network  releases  and  developed  several  music  news  programs  for  broadcast  on  Radiotelevisione Italiana S.p.A.  as  well  as  regional  television  networks,  in  conjunction  with  BMG  and  EMI.  She  built  her  own  design  firm  and  managed  artists  and  their  public  studios  before  co-­‐founding  b-­‐uncut.net  in  2007.

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blurgroup.com             ©  2017  blur  Group  PLC  

Plc  boardTim  Allen  – Chief  Financial  OfficerTim  has  over  20  years  experience  leading  Finance  teams,  focussed  on  technology  companies.  His  experience  spans  both  small  and large  corporates.  He  was  the  Finance  lead  on  the  sale  of  Orthogon  Systems  to  Motorola  Inc.  in  2006  and  also  on  the  subsequent  sale  and  divestiture  of  the Cambium  Networks  business  in  2011.  From  2011,  Tim  was  the  CFO  of  Cambium  Networks,  a  Private  Equity  backed  Wireless  Infrastructure  company.  He successfully  led  Finance,  HR  and  IT  teams,  implementing  scalable  efficient  processes,  across  the  globe,  in  a  complex  hi-­‐tech  business.

Roger  de  Peyrecave  – Non-­‐Executive  DirectorRoger  qualified  as  a  Chartered  Accountant  in  1983  and  is  a  member  of  the  Institute  of  Chartered  Accountants  in  England  &  Wales.  In  1992  he  became  an  audit  partner  at  PricewaterhouseCoopers  and  since  then  has  worked  with  many  private  and  public  companies,  particularly  in  the media,  technology  and  travel  sectors.  His  clients  have  ranged  from  entrepreneurial  businesses  to  international  FTSE  100  companies  and  he  has  been  reporting  accountant  on  many  IPOs  and  Class  1  transactions.  Within  PwC  he  has  held  senior  management  positions  at  office  and  regional  level  and  he  was  also  a director  of  the  PwC  company  that  owns  a  shared  service  delivery  centre  in  Poland.

Rob  Wirszycz – Non-­‐Executive  DirectorRob  has  worked  for  the  last  15  years  as  chairman,  advisor  and  mentor  for  start-­‐up,  scale-­‐up,  turnaround,  private  equity  and  public  businesses.  He  has  expertise  in  strategy,  marketing,  sales  and  ‘people’,  in  areas  such  as  e-­‐commerce,  outsourcing,  software  products,  insurance  and consumer  electronics.  Before  being  plural,  Rob  worked  for  EDS  as  European  Marketing  Director;  the  IT  industry  trade  association,  CSSA  as  Director  General;  and  was  CEO  of  a  number  of  fast  growing  companies  in  the  UK  and  overseas.  Rob  has  an  MBA,  is  a  Chartered  Engineer  and  Marketer;  a  fellow  of  the  RSA,  IoD,  ISMM,  and  BCS;  a  Court  Liveryman  of  the  IT  Livery  Company,  where  he  is  Chairman  of  the  Entrepreneurs  Panel;  and  a  Visiting  Senior  Fellow  at  Cass  Business  School.  He  is  on  the  ‘Maserati  100’  list  of  entrepreneur  mentors,  and  won  ‘Mentor  of  the  Year’  for  the  second  time  at  the  2015  Enterprise  Awards.

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b/g  248,  248,  248

blurgroup.com             ©  2017  blur  Group  PLC  

Shareholders @  14  February  2017 % Cumulative  %

Philip  Letts 30.1 30.1

Robert  Keith 14.5 44.6

JO  Hambro 11.7 56.3

River  and  Mercantile  Asset  Management 6.6 62.9

Hargreaves  Lansdown 5.0 67.9

TD  Waterhouse 3.7 71.6

Interactive  Investor 3.5 75.1

Other  directors 0.3 75.4

Others 24.6 100.0

Shareholdings  &  key  data

36

Exchange AIM

Ticker BLUR

Shares  in  issue 47,092,851

NOMAD/Broker N+1  Singer

b/g  248,  248,  248

blurgroup.com             ©  2017  blur  Group  PLC  

Strategically  Managed  Spend vs  Tail  Spend

37

StrategicallyManaged  Spend(usually  Direct) “Tail  Spend”

(usually  Indirect)

High,  in-­‐house  procurement  focus

Low  focus.  Uncontrolled.  Low  compliance

1.  Why  blur?

COST SAVINGS COMPLIANCE EFFICIENCY

b/g  248,  248,  248

blurgroup.com             ©  2017  blur  Group  PLC  

DisclaimerThe  information  contained  in  this  confidential  document  ("Presentation")  has  been  prepared  by  blur  Group  plc  (the  "Company").  This  Presentation  has  not  been  approved  by  an  authorised  person  within  the  meaning  of  the  Financial  Services  and  Markets  Act  2000.  Reliance  on  this  Presentation  for  the  purposes  of  engaging  in  any  investment  activity  may  expose  an  individual  to  a  significant  risk  of  losing  all  the  assets  invested.  This  Presentation  is  not  an  offer  or  invitation  or  solicitation  of  any  offer  to  acquire  securities  of  the  Company  nor  does  it  constitute  or  form  a  prospectus  or  part  of  any  invitation  or  inducement  to  engage  in  investment  activity  (within  the  meaning  of  Section  21  of  the  Financial  Services  Markets  Act  2000).  It  is  being  delivered  for  information  purposes  only  to  a  very  limited  number  of  persons  and  companies  who  are  (a)  persons  who  have  professional  experience  in  matters  relating  to  investments  and  who  fall  within  the  category  of  person  set  out  in  Article  19  of  the  Financial  Services  and  Markets  Act  2000  (Financial  Promotion)  Order  2005  (the  "Order")  or  (b)  high  net  worth  companies  within  the  meaning  set  out  in  Article  49  of  the  Order.  Any  other  person  who  receives  this  Presentation  should  not  rely  or  act  upon  it  and  should  return  it  immediately  to  the  Company.    By  accepting  this  Presentation,  the  recipient  represents  and  warrants  that  they  are  a  person  who  falls  within  the  above  description  of  persons  entitled  to  receive  the  Presentation.  This  Presentation  is  not  to  be  disclosed  to  any  other  person  or  used  for  any  other  purpose.

On  the  basis  that  the  Presentation  is  issued  to  and  directed  solely  at  the  persons  referred  to  above,  this  Presentation  is  exempt  from  the  general  restrictions  on  the  communication  of  invitations  or  inducements  to  enter  into  investment  activity  and  has  therefore  not  been  approved  by  an  authorised  person  as  would  otherwise  be  required  by  Section  21  of  the  Financial  Services  and  Markets  Act  2000.

While  the  information  contained  herein  has  been  prepared  in  good  faith,  neither  the  Company  nor  any  of  its  shareholders,  directors,  officers,  agents,  employees  or  advisers  give,  have  given  or  have  authority  to  give,  any  representations  or  warranties  (express  or  implied)  as  to,  or  in  relation  to,  the  accuracy,  reliability  or  completeness  of  the  information  in  this  Presentation,  or  any  revision  thereof,  or  of  any  other  written  or  oral  information  made  or  to  be  made  available  to  any  interested  party  or  its  advisers  (all  such  information  being  referred  to  as  "Information")  and  liability  therefore  is  expressly  disclaimed.  

38

Accordingly,  neither  the  Company  nor  any  of  its  shareholders,  directors,  officers,  agents,  employees  or  advisers  take  any  responsibility  for,  or  will  accept  any  liability  whether  direct  or  indirect,  express  or  implied,  contractual,  tortuous,    statutory  or  otherwise,  in  respect  of,  the  accuracy  or  completeness  of  the  Information  or  for  any  of  the  opinions  contained  herein  or  for  any  errors,  omissions  or  misstatements  or  for  any  loss,  howsoever  arising,  from  the  use  of  this  Presentation.

Neither  the  issue  of  this  Presentation  nor  any  part  of  its  contents  is  to  be  taken  as  any  form  of  commitment  on  the  part  of  the  Company  to  proceed  with  any  transaction  and  the  right  is  reserved  to  terminate  any  discussions  or  negotiations  with  any  prospective  investors.    In  no  circumstances  will  the  Company  be  responsible  for  any  costs,  losses  or  expenses  incurred  in  connection  with  any  appraisal  or  investigation  of  the  Company.    In  furnishing  this  Presentation,  the  Company  does  not  undertake  or  agree  to  any  obligation  to  provide  the  recipient  with  access  to  any  additional  information  or  to  update  this  Presentation  or  to  correct  any  inaccuracies  in,  or  omissions  from,  this  Presentation  which  may  become  apparent.

Neither  this  Presentation  nor  any  copy  of  it  may  be  (a)  taken  or  transmitted  into  Australia,  Canada,  Japan,  South  Africa,  New  Zealand,  Switzerland  or  the  United  States  of  America,  their  territories  or  possessions;  (b)  distributed  to  any  U.S.  person  (as  defined  in  Regulation  S  under  the  United  States  Securities  Act  of  1933  (as  amended))  or  (c)  distributed  to  any  individual  outside  Australia,  Canada  or  Japan  who  is  a  resident  thereof  in  any  such  case  for  the  purpose  of  offer  for  sale  or  solicitation  or  invitation  to  buy  or  subscribe  any  securities  or  in  the  context  where  its  distribution  may  be  construed  as  such  offer,  solicitation  or  invitation,  in  any  such  case  except  in  compliance  with  any  applicable  exemption.  The  distribution  of  this  document  in  or  to  persons  subject  to  other  jurisdictions  may  be  restricted  by  law  and  persons  into  whose  possession  this  document  comes  should  inform  themselves  about,  and  observe,  any  such  restrictions.    Any  failure  to  comply  with  these  restrictions  may  constitute  a  violation  of  the  securities  laws  of  any  such  jurisdiction.  

If  you  are  in  any  doubt  about  the  investment  to  which  this  Presentation  relates,  you  should  consult  a  person  authorised  by  the  Financial  Services  Authority  who  specialises  in  advising  on  securities  of  the  kind  described  in  this  document.  

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The  Indirect  spend  management  platform

Blur  Group  Plc  – Contacts  

39

February  2017

blur  Group  plcTim  AllenChief  Financial  OfficerTel:  (0)  7818  432437

Blur  Group    plcEagle  House,  1  Babbage  Way,  Exeter  Science  Park,  Exeter,  Devon  EX5  2FN

Yellow  JerseyFelicity  WinklesAlistair  de  Kare-­‐SilverTel:  (0)  7825  916  715

N+1  SingerJamie  Constable  -­‐ SalesShaun  Dobson  – Corporate  FinanceTel:  (0)  20  7496  3000