Help is at hand to go circular

Circles are the strongest shape: in geometry, in nature, in engineering. That’s why bubbles and planets are spherical, why gas tanks and silos are cylindrical… and why businesses are stronger when they make the move to a circular model.

Making the leap to a new business model is daunting. But the circular economy presents a compelling opportunity, particularly to those who start the transition early. It just requires a change in mindset and the right partner.

Today’s linear approach – essentially a conveyor belt from raw materials to maker to consumer to landfill – is increasingly unsustainable. It’s volume driven, with profit and shareholder value reliant on sales growth at a time when commodity prices are rising and increasingly volatile.

A circular model, however, is a closed loop that keeps generating margin. Businesses learn to design, maintain and restore their products for reuse. In return, there’s an opportunity to earn not just once, but from each and every cycle in a product’s long life.

This recurring revenue model is the greatest value-creation strategy a business can adopt, because businesses that generate stable, recurring revenues are inherently more valuable than trading companies.

The circular economy presents a compelling opportunity, particularly to those who start the transition early

Innoverne helps businesses transition to the circular economy. Its Hirefox® omnichannel eCommerce software uniquely handles retail, rental and try-before-you-buy. Plus it manages the whole process: customers, subscriptions, product information, orders, payments, stock, fulfilment and returns. So your businesses can continue selling, but also go circular by offering products as services or charging customers per use.

High-profile clients, spanning the automotive, healthcare, white goods and electronics sectors, are already seeing the benefits. For example, two leading vehicle manufacturers have saved more than 80 per cent on specialist tools, equipment and refrigerants for their dealer networks by transitioning to circular models set up and run by Innoverne.

Innoverne also offers end-to-end fulfilment and returns management. So if you don’t have the infrastructure in place, Innoverne can handle the elements that you’re not geared up for, such as tracking, returns, refurbishment and reuse.

“We are the circular economy experts,” says Julian Thomas, founder and chief executive at Innoverne. “Our Hirefox® software, experience and infrastructure let you add circular to your current offering, making the transition easier, and letting you look before you leap. We help your organisation adapt its business model quickly and easily. So you can introduce new, higher value and more sustainable recurring revenue models straight away.”

Innoverne is an Emerging Innovator member of the Ellen MacArthur Foundation’s CE 100 programme of leading sustainability businesses.

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