B2B Payments

Wales Procurement Strategy To Save £5.7 Million Per Year

The Welsh government announced last week that it had a new strategy that will save the nation’s procurement of construction and facilities management (FM) sector £5.7 million per year.

According to a recent Supply Management article, the plan is part of the National Procurement Service (NPS) and ensures consistent pricing across the public sector and encourages suppliers to create efficiency proposals and measures that promote social benefits.

Finance Minister Jane Hutt explained to the news source that the construction and FM industry has a vital part to play in supporting the Welsh economy.

"We want to work with businesses across Wales to get the best value for the public sector,” she said. “As well as helping the public sector save money we also want to make tendering for Welsh government contracts more accessible than ever before, particularly for SMEs and third sector organizations."

Launched in 2013, the NPS is expected to save the public sector £25 million per year when it becomes fully operational. The NPS will focus on six main categories of common and repetitive spending, which according to the news source, account for £1.8 billion worth of annual public expenditure.

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