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Launch of ProcurementExchange.com Establishes One-Stop Source for Public Procurement
The launch of The Procurement Exchange (www.procurementexchange.com) marks the creation of the public sector’s first web-based resource for public procurement, helping the public sector to save money, save time and reduce risk.
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March 3, 2008 (FPRC) -- The launch of The Procurement Exchange (www.procurementexchange.com) marks the creation of the public sector’s first web-based resource for public procurement. The Procurement Exchange sources products and services from across the globe for the benefit of Provinces, municipalities, universities and hospitals.
In their report on restoring the municipal fiscal balance, the Federation for Canadian Municipalities observes that “Canada’s municipalities are in a fiscal squeeze, caught between a growing range of responsibilities and a lack of fiscal tools to meet those responsibilities…Between 1988 and 2004, annual per capita growth in municipal expenditures was 0.9 per cent, while revenue grew by 0.7 per cent.” Of course, this challenge is not unique to municipalities - it also affects hospitals, universities, school boards and social service agencies.
The Procurement Exchange addresses this challenge by making public procurement more effective and efficient. The Procurement Exchange helps the public sector to save money, save time and reduce risk.
Save Money
Opportunities exist to make great savings from public procurement. With The Procurement Exchange, the public sector can lower costs through improved comparison shopping with web-based catalogues, reduce prices for commodity goods by using reverse auctions and achieve more favourable payment terms by accelerating the invoice-to-pay cycles.
Save Time
Reduced productivity is preventing valuable resources from contributing. With The Procurement Exchange, the public sector can automate workflows for sourcing to pay cycles, reduce processing time for low value goods and services through the use of purchasing cards and make communications with suppliers more efficient.
Reduce Risk
Public procurement is at the intersection of a variety of risks. With The Procurement Exchange, the public sector can increase collaboration on capital projects for superior project outcomes, and improve the ability to manage project scope changes and contract renewals with information-based tools.
“Many public sector organizations are demanding new and creative ways for making procurement more effective and efficient,” says Ben Sorensen, President of The Procurement Exchange. “We are constantly seeking new solutions to meet this need.”
About The Procurement Exchange
The Procurement Exchange is the public sector’s first web-based, one-stop shop for public procurement solutions. The Procurement Exchange is constantly looking for new ideas, product and services to make public procurement more effective and efficient. The Procurement Exchange can be found on the web at www.procurementexchange.com.
For more information, contact:
Ben Sorensen
President
The Procurement Exchange
Ben.Sorensen@ProcurementExchange.com
Send an email to Ben Sorensen of The Procurement Exchange
Keywords:
procurement, eauctions, management
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