A new legislative era for public procurement is close at hand with the commencement of the Procurement Act 2023 set for 24 February, following a delay to the original go-live date in October last year.
The act was initially set to go live with a new National Procurement Policy Statement (NPPS) laid out by the previous political administration. However, the Labour government subsequently deemed that the existing NPPS did not align with its strategic objectives for public procurement. This resulted in the delayed go-live date, allowing time to develop a new NPPS – one more focused on “applying the full potential of public procurement to deliver value for money, economic growth, and social value.”
While the timeline changed, one thing remains – the Procurement Act 2023 marks a significant step change in the UK’s procurement landscape. The new legislative era places a key emphasis on increasing transparency within public sector procurement, building a simpler and more flexible system, opening up procurement processes to new entrants – particularly SMEs.
As the government and organisations strive to maintain the integrity of public spending, the Act introduces regulations that require real-time visibility and stringent management of contracts, which will need transparency, accountability and effective reporting.
One of the key enablers will be the use of effective contract management processes and software like our own.
Software solutions to support the changes
There are lots of changes coming forward under the new act – from terminology and changing procedures, through to a new single digital procurement platform for all e-procurement systems to feed into. There is a lot to become familiar with as we go through the transition period – and like in many other areas, technology and software is there to help improve processes and efficiencies even during times of change.
The good news? Sypro’s features are already perfectly placed to meet the demands and support the forthcoming act.
Automated reporting for compliance. Sypro simplifies the reporting process through automatically generating reports on progress, expenditure, and performance. Customisation is available to make sure that such reports cover the necessary information to enhance the transparency across the board, making sure all key stakeholders have the information needed. Plus, automated notifications and reminders are there to make sure reporting deadlines are met and protect against non-compliance.
Real-time data and dashboards. Sypro’s dashboards provide instant visibility of key information across all of your contracts in real-time and track performance – no matter what contract type is being used. It also shows clear alerts to any potential issues that may arise in the near future, allowing teams to address problems before they escalate, with the transparent approach to information sharing serving more protective measures.
Centralised document management and communication. Similarly, having all documentation and communication housed within Sypro’s software removes room for errors or discrepancies. Transparency is enhanced and risk is reduced with version control and all information available to key parties for progressing, or for audits and reviews. Discussion tabs within the system allow teams to communicate directly in-platform – meaning no conversation goes undocumented or gets lost in boxes ensuring everyone has full visibility, remaining aligned and informed.
Performance monitoring and KPIs. An element already important to most projects in the construction industry, the tracking of KPIs is going to be even more important for ensuring value for money and holding organisations accountable under the new Procurement Act. Sypro makes this seamless, making it easier to view, monitor, and record performance and deliverables against agreed metrics – all of which serve to add more protection, particularly with the new act introducing a debarment list for suppliers that pose undue risk.
An eye to the future
As the Procurement Act 2023 comes into force, time will be the key indicator on how successful the new legislative measures will be. One thing is for certain – increased transparency, a shift towards ‘best value’ over lowest costs, and additional measures to make sure public funds are protected and invested responsibly are all serving to create even better outcomes from the work carried out by organisations across the built environment.
While the Procurement Act focuses on public procurement, it is likely that these focuses and values will disperse through the wider industry too. Sypro is on hand to help all organisations meet their requirements, while protecting them from unnecessary risks and working towards successful project delivery reporting in line with the new legislation. And with the delay to the go-live of the new regime, there is more time to develop an understanding of the changes and put in place the processes and software to help hit the ground running.
See more about Sypro’s features here, and get in touch with us today to set up a demo or introductory call to find out more about how we can help you effectively manage your contracts into the future.
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