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But beyond the financial rewards, what does your business stand to gain from getting involved in public procurement with the government? And how can you stand apart from the competition to win government procurementcontracts in the first place? The popularity of government procurementcontracts has persisted ever since.
This would result in large monetary and transactional savings for governments because, for example, approximately 25% of public contracts in the region require time extensions averaging nearly double their original terms, while around 13% experience budget increases of up to 50%. of GDP, according to FISLAC calculations.
Predictive Analytics: Uses advanced data analytics, such as machine learning, to predict future demand, analyze potential supply chain risks, and facilitate informed procurement decisions. Analytics can help organisations to identify opportunities for cost savings, improved contract compliance and better procurementstrategies.
Early development work on the re-let has commenced and a Prior Information Note (PIN) will be issued shortly which will include a Request for Information (RFI) to gain views from the market and stakeholders, to inform our ProcurementStrategy.
Enhanced Security AI helps to make procurement more secure by assisting teams in choosing the best suppliers and, therefore, reducing the risk of late payments and fraud. It can also ensure greater legal protection when utilised to manage procurementcontracts.
By integrating such advanced solutions and procurement software, the teams can address inefficiencies, boost sales, and achieve compliance effortlessly, ensuring streamlined and effective procurementcontracts.
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