Business is booming for digital and tech companies in Leeds – but the wider city region has its fair share of success stories from the sector as well.
One of the firms in the vanguard of that regional digital revolution is The Car Buying Group, which has offices in Wakefield and Bradford.
The car purchasing website has been named as the fastest-growing technology company in the North.
And its founder Tom Marley says being part of the White Rose county’s thriving tech scene has been a key factor in his firm’s progress to date.
Tom told Digital City: “Being based in Yorkshire is a huge advantage for the business.
“I believe that there is a wealth of talented Yorkshire people that don’t want to move to London to find work in the tech sector, they want to make a difference at home.
“The Car Buying Group taps into this pool of aspirational young people, providing great opportunities with fantastic growth potential.”
Tom’s company has developed advanced algorithms which give customers a hassle-free way of selling their cars, delivering valuations in less than 0.2 seconds.
The entrepreneur said: “I wanted to create a digital solution which offered the highest level of customer service, in a sector typically renowned for its bad reputation.
“With more than one million people selling their car online every year and the average user changing their car every two to three years, it was clear that the market place had immense potential.
“In a sector largely dominated by big brands with gigantic marketing budgets, I aimed to position The Car Buying Group as a preferred alternative.
“With cutting-edge technological processes, we offer a slick service with less haggling and more convenience.”
The Car Buying Group has experienced rapid growth since it was founded in 2014, with its turnover rising from £3m in year one to £24m in year three.
It has also been boosted by a multi-million pound investment from the Greenhous Group motor trade giant, in a situation far removed from that faced by Tom as he set out on his entrepreneurial journey.
He said: “After finding that traditional methods of funding were not interested in taking a chance on The Car Buying Group in its initial phases, I realised that we would have to be solely self-funded.
“My parents re-mortgaged their house to enable me to set up my business.”
Giving an insight into the tech wizardry used by his company, Tom said: “To stay on top of our technological game, we review vehicle prices hourly to manage the depreciation risk in stock management.
“Plotting price fluctuations and curves over periods of time also helps us to manage future pricing and purchasing strategies.
“Using technology to review disposal routes and low and high-performance cars, enables us to understand future buying habits and manage risk.
“This is achieved through internal systems which take the pressure off employees and allow them to focus on the role they do best, which is interacting with customers.
“The systems, which have all been built in-house, remove much of the decision-making processes away from staff.
“This reduces human error and increases productivity and service efficiencies.”
The Yorkshire Evening Post runs a regular Digital City column in partnership with Sky Betting & Gaming.
The platform aims to highlight the giant strides being made by a sector that boasts around 3,000 organisations in Leeds.