As an exporter of customised noise control solutions to international markets across key EU regions, UK and the USA we take every step necessary to ensure we meet our customers requirements in both the quality of our products and the delivery and installation process. The announcement of Brexit highlighted key issues for us in sourcing materials and possible disruptions to our UK customers, but we acted quickly and started the process of preparing for Brexit.
The UK market is one of Ventac’s key export markets as it is for many small businesses in Ireland. We have been in regular communications with our key customers in the UK to let them know that we are preparing for, and ready for Brexit. In addition, we have been diversifying our export markets by focusing more on other markets such as Czech Republic, Benelux, Turkey, The Netherlands and US. We work closely with our partners on all market opportunities, to establish what Ventac has to do, to be successful in the international markets. Key areas we focus on when exploring new markets are market segments, value chains, potential customers, potential partners, and a detailed competitive analysis. We believe it is imperative for small Irish firms to research opportunities outside of the UK, and not be over reliant on the UK market.
- How has Ventac prepared for Brexit?
Brexit highlighted some issues for us in sourcing materials and possible disruptions to our UK customers, but the team here at Ventac have been very busy over the last twelve months preparing for Brexit. We have a Brexit Team in place, and a Brexit Action Plan in working progress. We have regular virtual meetings, to ensure our action plan is on target.
Some members of the The Brexit Team
We have a physical presence in the UK to manage our existing UK based customers, and have a key account management team in place to maintain strong working relationships with our UK based customers. Our UK competitors are analysed on a regular basis, to help Ventac understand better how they are positioned in the market.
We have foreign forward exchange lines in place to help reduce Sterling exchange risk. A detailed costing exercise was carried out to understand the margins currently being obtained across our product range with action to be taken to increase margin as required and where possible.
We have an EORI number for exporting and we have Commodity Codes (CN) for our products which will be required in a no deal scenario. Research has shown us that exports customs clearance is not seen as an issue for us in the event of a hard Brexit if we have all the structures in place.
We worked with a Professional Consultant to review all our UK Suppliers and Customers to ensure they are ready for Brexit. As a client of Enterprise Ireland, we have accessed some Grant Support to have an Approved Consultant on site to do a complete audit of our progress with our Brexit Action Plan. As part of this Audit process our Consultant reviewed our Supply Chain to categories our existing supplier partners and their readiness for Brexit and helped us source new suppliers as appropriate.
- Ventac understands the needs of our customers
At Ventac, we are committed to delivering exceptional service and technical expertise to all of our international clients. Reliability, expertise and exceptional customer service is at the core of Ventac and our expertise and knowledge of the Vehicle and Industrial Noise Control markets ensures we can provide high performance acoustic solutions for every application.
Innovation is at the heart of everything we do at Ventac. In light of Brexit we have adopted a strategic approach to innovation to improve our competitive advantage. Innovation isn’t something that’s confined within the four walls of our R&D laboratory, it extends to the core of our company and our people – from simple daily procedures and practices to lean methodologies in our manufacturing facilities. At Ventac, innovation is all about the customer which, along with future trends drives innovation forward in our business.
We are now very confident that we are ready for Brexit, and have all the necessary structures in place.
If you would like to get in touch with Ventac to find out more about our services, we would be delighted to talk to you.