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Public procurement encourages collaboration between government and private enterprises, in turn allowing public authorities to achieve sustainable and circular practices. The following blog will provide a more detailed exploration of creating sustainable procurement strategy, their benefits and challenges during implementation.
They also want transparency, but in their case, it is visibility into new bids, the state of existing bids, awards, and payment status. Given these needs, let’s think back to the current state of public procurement technology. The same is true of the companies looking to supply the public sector with goods and services.
Procurement transparency exists within the public sector because it is required by law. Suppliers need bidding and contract transparency. It is one thing to make tenders public, and another to offer suppliers visibility into the end-to-endbid management process and final award decisions.
Enormous, complex, global enterprises use procurement technology to manage their spend, suppliers, contracts and bids every day without seeming to run into the same stumbling blocks as the public sector, which operates on a smaller and more localized basis. They can determine and document their general requirements.
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