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By leveraging blockchain’s capabilities, these entities can significantly mitigate corruption risks, streamline operations, and foster a more transparent procurement environment. Integrity Provides an immutable record, reducing fraud and corruption.
Anti-corruption policies further reinforce integrity in procurement, safeguarding public funds and fostering trust in government processes. Working with SMEs and local businesses enhances their ability to seek tenders, thus fostering inclusiveness and innovation. How Does Tracker Intelligence Help In All This?
For example, with our support, the Dominican Republic’s procurement agency monitors all transactions in the country’s electronic procurement system in real-time using 21 automated corruption red flag risk indicators.
A number of webinars we have held at GW Law School, including a July 2024 series on emerging international best practices, confirmed that there are many parallels between these “green procurement” strategies. Strategies In “Green Procurement,” 66 Gov. Planning The first strategy looks to procurement planning.
For instance, a lack of clear, coherent tendering procedures or regulatory violations in the tender advertisement may affect the execution of government projects. By addressing these challenges, procurement teams can enhance transparency, ensure compliance, and deliver value for money. These include: Wastage of taxpayer money.
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