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Procurement analytics is quickly becoming a core practice for efficient operations and effective sourcing in today’s rapidly changing business environment. Data-driven decision-making enables procurement teams to improve performance and align with wider organisational goals including corporate social responsibility and risk management.
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.
Five suppliers have been appointed, three of which are Scottish Small and Medium-Sized Enterprises (SMEs). Framework Public Bodies are encouraged to complete the RFI and confirm their interest in participating in a User Intelligence Group (UIG) for the new procurement exercise. to £281.31 for both Education and Non-Education customers.
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.
By utilising AI, companies can streamline the entire procurement and supply process while allowing procurement teams to focus on higher value-added tasks. Cost Savings Through spend and supplier panel analysis, AI can deliver cost savings of up to 40%.
Apart from this, many organisations find it challenging to digitise their procurement processes, which acts as another barrier to efficiency. Tracker Intelligence uses sophisticated procurement tools and integrates centralised systems, which decreases the time and effort needed for buyers and suppliers.
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