White paper
There is an increasing focus across both the public and private sectors on procurement.
In the public sector the focus has been on money being wasted, and the need to make spend more visible, and so, more accountable. In the private sector it is primarily driven by the recession, and the need for businesses to save costs, streamline business processes, and improve their competitive position. Most recently in the public sector the MOD has come under attack for delays and in particular wastage caused in their procurement processes. The recent study by Bernard Gray which investigated this area found that that on average defence programmes are five years late into service and as a result cost an extra £300m. Further, the Conservatives recently announced that if they were to gain power at the next election, they will publish all central government deals worth more than £10,000.
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White paper
In most organisations corporate spending is decentralised. Individual departments are responsible for managing budgets, and invariably it falls to the administrative staff within these departments to make purchases. The result is a fragmented purchasing process, managed reactively, with no control, no visibility, and no accountability. The recession has brought a renewed focus on the need to reduce costs, and a key component of this is the ability to control the spend of a business. However, existing procurement practices are often fragmented making it very difficult to assess where the key problems lie and where the solutions can begin.
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As the year draws to a close and we reflect on the economic events of 2009, it seems inevitable that 2010 will be greeted with a mixture of anxiety and optimism. What is essential right now is that organisations have the liquidity levels that they need. A lack of liquidity can act like a muzzle on the expansion plans of any company – compelling it to either stagnate or go under completely.
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The latest UK figures show that SME businesses make up almost 60% of the private sector workforce, and account of 52% of business turnover. And yet, with the economy in a state of turmoil, many are struggling with sluggish cash flows and a general lack of liquidity. In fact - SMEs across the country now face a staggering £18.6bn late payment problem – representing an increase of almost £3bn from 2007.
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Driving efficiency, in both processing and reporting on orders and payments, is an ongoing crusade for nearly all organisations. In the public sector this drive was championed by the Gershon review, which set efficiency improvement targets for every government department.
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