Go Ahead and Spend...Wisely!
Leading purchasing experts believe the UK should spend its way wisely out of economic trouble rather than making austere savings - with big infrastructure projects at the top of the public shopping list, according to a recent poll of senior procurement professionals.
For 57 percent of those polled, "measures to get the UK spending more" is the most important priority, indicating that more economic activity is favored by procurement people tasked with squeezing best value out of corporate budgets.
Moreover, 48 percent said that public sector spending regulations restricted best value, suggesting that public money is not spent as wisely as it could be.
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When asked what the Chancellor’s top two budget pledges to UK businesses should be, 70 percent cited increasing spending on UK infrastructure projects, which would help to create many opportunities for businesses as well as making all parts of the UK a more attractive destination for industry.
The second most popular option, for 52 percent, was boosting job creation measures which could help to accelerate consumer spending.
“As the people who are responsible for making every penny of an organization’s money deliver best value, the views of the procurement profession should be right up there as a source of Government spending intelligence,” says Daniel Ball, Director of Wax Digital, which conducted the poll. “What’s really clear from these findings is the need for wiser spending than exists today, where maximum possible benefit for the UK economy is squeezed from every transaction.”
The poll was conducted by Wax Digital in March 2012 amongst senior procurement professionals at eWorld Purchasing and Supply, London, and subsequently online.
SAP Ariba to digitise procurement for Expo 2020 suppliers
The global trade event, this year hosted in Dubai, was rescheduled from last year and will now take place between 1 October 2021 and 31 March 2022.
As the event’s Innovative Enterprise Software Partner, SAP Ariba solutions will fully digitise and automate the procure-to-pay lifecycle, providing a streamlined experience for thousands of market leading, global suppliers and strengthening the global supply chain with enhanced transparency and efficiency. The cloud-based platforms operate through on SAP Ariba’s UAE public cloud data centre and connects to the Ariba Network.
Expo 2020 "a long-term investment"
Mohammed AlHashmi, Chief Technology Officer, Expo 2020 Dubai, said the world trade event is “a long-term investment in the future that aims to enhance opportunities for sustainable business connectivity and growth”, which stretches beyond Expo 2020’s six-month window.
“Our partnership with SAP is an example of what can be achieved with the invaluable support of our technology partners to host one of the most digitally advanced World Expos ever,” he added. “The implementation of SAP Ariba solutions has transformed our end-to-end procure-to-pay cycle and helped set new standards of procurement automation for projects of this scale.”
To date, more than AED 1bn has already been transacted by Expo 2020 suppliers through SAP Ariba. The platform promotes collaborative partnerships and allows registered users to participate in sourcing events, negotiate and initiate contracts, and centralise their invoicing and payments in real time.
Claudio Muruzabal, President of EMEA South, SAP, said: “Expo 2020 Dubai is demonstrating global best practices in digitising its procurement process with SAP Ariba solutions to help gain visibility into its spend, tighten collaboration with its suppliers, and achieve process automation, including completely paperless invoicing.”
About Expo 2020 Dubai
Expo 2020 will take place in Dubai and is the first of the long-running World Expos to be hosted in the Middle East, Africa and South Asia territory. The original World Expo, called the Great Exhibiton, was hosted in 1851 at the Crystal Palace in London, designed as a showcase for the innovations of the Industrial Revolution.
Expo 2020 was originally due to run 20 October 2020 to 10 April 2021, but was last year postponed in light of COVID-19 restrictions - though some business has already taken place virtually. The event will place greater emphasis on innovation in sustainable solutions through the Sustainability District, blending technology and culture. It is expected that around 70 per cent of the 25 million attendees will be international visitors.