Krispy Kreme Doughnuts Inc is a global doughnut company and coffee house that originated in America in 1937.
In October 2003, Krispy Kreme expanded into the UK and opened their first outlet in prestigious department store Harrods. Since then, the company has seen progressive growth across the country with sites in Edinburgh, Bristol, Birmingham and Leeds.
In 2014, Krispy Kreme chose Utilitywise to help them achieve a better deal on their electricity and gas contracts. With a sizeable consumption across 51 sites, it was advised that Krispy Kreme take advantage of the Utilitywise group purchasing solution, Portfolio. Portfolio is a fully Risk Managed procurement option that gives access to a flexible contract providing greater protection from market volatility and improved long-term prices.
The Utilitywise Portfolio is unique as it provides each client with an individual strategy based on their own specific requirements. As a client in a flexible contract, Krispy Kreme worked with the Utilitywise team to agree a Risk Management Policy before trading began. This allowed the Risk Management team to trade in-line with expectations and a pre-agreed strategy. The Portfolio also allows you to change strategy throughout the duration of the contract, adapting your approach based on changing business requirements or market conditions.
Each Portfolio is sought and negotiated by a team of experts to ensure our clients receive the most competitive contract around. Our team of Risk Management Consultants then monitor the market closely to identify the right time to buy energy so that savings can be made and locked in.
All our clients receive a dedicated Account team on hand throughout the process to offer support. The Utilitywise team is experienced in all procurement scenarios and are able to assist in a variety of areas from supplier terms and conditions to Take or Pay advice and credit support.
Portfolio – the right ingredient
Utilitywise Account Director Rowan Sandford works with Robert Ledger, Finance Director at Krispy Kreme to create and maintain the right strategy for the company.
The price paid for energy within the Portfolio will differ depending on the chosen strategy and performance achieved. Throughout the Portfolio Krispy Kreme receive budget updates to help with forward planning.
Baked to perfection
To date, Utilitywise has achieved savings against budget of £77,987 for Krispy Kreme on electricity alone. This equates to an 11% saving. Reductions have been achieved for the company’s gas contract too, where Utilitywise has cut costs by 8%, saving £6,288.
Speaking of the service received, Robert Ledger commented, “We have been delighted by the effectiveness of the Portfolio procurement contract and the results achieved in such a short space of time. The innovation of the product along with the expertise of the team managing it makes for a winning combination. The support of the Account Managers has also been superb. They have saved us the hassle and time associated with our energy procurement and with impressive results. I feel confident that our procurement is in safe hands and would recommend Utilitywise to others.”
The cherry on top
Along with Portfolio procurement, Utilitywise also provides a Bill Validation service to Krispy Kreme, checking each bill to the last penny and liaising with suppliers for a rebate should any variances be found.
Our Water team has also carried out a Water Audit identifying potential savings of £1,750 per year at selected sites, whilst our Carbon team is helping the business fulfil their ESOS obligations.
For further information on Utilitywise and our services, please call 01527 511 757 or email us.