WETHERBY, England--(BUSINESS WIRE)--PROACTIS, a global Spend Control and eProcurement solution provider, has signed an agreement with The Government of Barbados to deliver its full range of Spend Control and eProcurement software solutions as part of a modernisation project of the Barbados National Procurement System.
The government is moving swiftly to overhaul its procurement processes - a move that will rationalise procurement activities across departments; provide greater clarity and transparency in procedures; ensure greater uniformity through the use of strategic sourcing and contract management processes, and introduce more control over daily purchase activity.
Through the partnership with PROACTIS, The Government of Barbados benefits from access to the latest cloud-based software in which critical procurement and purchase-to-pay systems and processes are integrated seamlessly.
Among the key benefits noted by The Government of Barbados are:
- The ability to reduce the overall cost of purchased goods and services by: gaining the best possible value for everything they buy; eliminating unnecessary and improper purchases; ensuring only accurate invoices are paid; and improving the efficiency of Procurement, Accounts Payable, and everyone involved in the purchasing process.
- The ability to improve financial control by: ensuring compliance with government policies, and maintaining clear visibility of the cost pipeline and its impact on budgets.
- The ability to mitigate risk by: maintaining transparency of the sourcing process, properly qualifying new suppliers, and effectively monitoring supplier performance and compliance.
With the implementation of PROACTIS, the government's processes will become more transparent and accountable. It will lead to the removal of inefficient and time-consuming activities; the promotion of greater competition among bidding companies; greater compliance; and the promotion of international best practices in procurement activities.
"The decisive factor in the choice of PROACTIS, apart from a comprehensive track record, was their approach of the team," explains Ms. Margaret Sivers, Permanent Secretary, Acting, Special Projects Unit, Ministry of Finance of The Government of Barbados. "They share our vision and we attach great importance to the relationship with PROACTIS. They offer much more than a typical software product. It is a combination of innovative software solutions and well-structured services delivered by experienced professionals. This is a complex project with a complex implementation programme so we rely on advanced software functionality and a close and productive working relationship with the team if we are to make this project the success we want it to be."
The Government of Barbados, through the Special Projects Unit (SPU) of the Ministry of Finance and Economic Affairs selected PROACTIS in accordance with the procedures set out in the Policies for the Selection and Contracting of Suppliers Financed by the Inter-American Development Bank.
PROACTIS is a leading provider of Spend Control and eProcurement solutions. Hundreds of organisations around the world use PROACTIS software and services to streamline their purchase-to-pay process and obtain best value and control in procurement.
Source-to-Contract Solutions: to help organisations to automate the full buying cycle from improving the way they find, evaluate and engage suppliers to increasing "on-contract" spending and enabling more effective collaboration with their trading network.
Purchase-to-Pay Solutions: to enable organisations to streamline the purchase-to-pay process, eliminate labour-intensive manual registration of invoices, speed up invoice matching and approvals and gain control of "after-the-event" purchase claims.
Widely used in mid-to-large sized organisations across private, public and not-for-profit sectors, PROACTIS is routinely integrated with ERP and financial systems.
For more information, visit www.proactis.com.