Distinguished members of Parliament, thank you, and BDC, for allowing me to be here today.
It is an honour to have the opportunity to speak to you about my business experience with BDC as a woman entrepreneur.
I will begin by telling you about my businesses. I will then explain how BDC has made a difference in the way it has supported the growth of my businesses, and will finish by making a personal suggestion as to how the government could consider helping entrepreneurs going forward.
HCMWorks, established in 2005, specializes in the provision of consulting services primarily around the supply and ongoing management of contingent and third party labour costs, which also include organizations and IT services, for example CGI, and consulting services, for example, Accenture.
The clients that HCM supports spend millions of dollars in contingent and third party labour, from $100 million to as high as $3 billion. These include companies like Bell, National Bank, and Banque Laurentienne. Our teams help our customers reduce their supply base, which leads to fewer vendors, lower prices, and significantly reduces third party costs. The average percentages saved per year working with HCM ranges from 10% to 18% across as many as 1,000 suppliers per client supported.
HCM is a 2014 finalist as the top procurement global provider and service provider through procurement leaders, and is a member of WEConnect, an organization that delivers certification and support to connect women business owners with the growing global demand for diverse and innovative suppliers.
Payment Services Corporation is a company established in 2007 that specializes in the ongoing management of independent contractors and 1099 supply in Canada and the U.S. The companies that PSC supports spend in some instances more than $50 million a year on independent contractors that provide as little as 10 hours to as many as 200 per year in services to our clients.
The management of the availability of those resources, as well as contracts, contract management, and rate card management cost companies many millions above the should-be costs. That motivates our clients to outsource the management of these transactions and resources. PSC is the largest provider of IC billing and employer of record services in Canada, with over $100 million in annual revenue.