CHICAGO--(BUSINESS WIRE)--While rising costs and budget pressures continue to dominate headlines, Government Procurement Service (an executive agency of the Cabinet Office) and BravoSolution, the spend analysis company, have achieved visibility of spend under management across the entire UK central government. The initiative is being developed to also track metrics such as proportion of spend with SMEs, and investigate other areas where goods and services could be collaboratively sourced.
“For the first time, we have achieved a detailed, accurate, and up-to-date reporting capability enabling visibility and control over spending across the whole of central government. This has enabled us to document savings of £2.5 billion ($3.98 billion) of combined price and demand savings in 2011-2012 and identify further opportunities for 2012-2013,” said David Shields, Managing Director of GPS.
The joint initiative between BravoSolution and Government Procurement Service is one of the largest and most high profile spend analysis projects ever implemented, covering approximately £60 billion ($95.69 billion) in annual spend, more than 500,000 suppliers and tens of millions of invoices and contracts. The program was rolled out across all 17 central departments, including the Ministry of Defense, Department of Transport, and the Department of Work and Pensions.
The program is not yet complete though. “Now that we have achieved a frequent refresh across all organizations the focus will shift to standardizing data quality, improving SME analysis, and integrating data flows from other parts of the sourcing process, such as contract compliance,” said Mike Roberts, Account Director for BravoSolution.
BravoSolution will also continue to advise public procurement teams on best practices for spend analysis to maximize the effectiveness and efficiency of the program, and also help Government Procurement Service meet its wider goals of supporting best practice procurement in the wider public sector.
BravoSolution offers leading software and services to fit the needs of today’s sophisticated supply management organizations. Our services organization, one of the world’s largest teams of professionals dedicated exclusively to sourcing and procurement consulting, delivers lean, targeted services to support strategic sourcing and procurement initiatives. Our industry leading software toolkit supports the full supply management lifecycle across myriad industries, geographies and business models.
Over 50,000 procurement professionals in 60 different countries are benefiting from BravoSolution’s technology and services – unlocking tangible benefits such as increased process efficiency, decision support, cost reduction, improved process governance, greater quality relationships with vendors and the ability to share, understand and act upon the wealth of sourcing-related data held within their organization.