ICAEW Accredited E-Procurement Processes
The first ever e-procurement process to be accredited by the Institute of Chartered Accountants in England and Wales
‘Best Practice Best Value’
With the public and private sectors under pressure to deliver more efficient methods of purchasing more-for-less, buyers are often taking entrepreneurial approaches to meet the demands placed upon them. However, it is a common story that buyers then wrestle to rationalise the value of their purchasing processes to the board or senior financial members of the organisation.
E-procurement is broadly recognised as offering structured and efficient approaches to the buying challenge and there is only one accreditation that is officially recognised by the government from The Institute of Chartered Accountants (ICAEW).
This dynamic organisation has launched a ‘Best Practice Best Value’ accreditation scheme that exclusively acknowledges products or services that do just that, offer a Best Practice approach and deliver Best Value consistently.
www.theitindex.co.uk is the first eprocurement solution to be accredited under this scheme and senior analysts at the ICAEW had to absorb reports like Gershon’s Efficiency Review, alongside the eGov dictat and the DWP’s Transformational Government report, to enable them to define what is Best Practice and Best Value.
The result has been a revolutionary mantra that the ICAEW team can reflect upon when scrutinising any product for accreditation. The accreditation process is highly rigorous and takes up to two years to complete.
In the eprocurement field, this considers points like intuitive 3 quote capability that automatically exceeds all EU Procurement Directive requirements - a policy that the Office of Government Commerce is responsible for implementing in the UK, collaborative working capabilities, data and information sharing, transparent costs and reporting functionality.
Best Practice procurement is a purchasing process that considers and returns more than just best price and cash savings, it is a process that takes account of the whole ‘life cost’ of buying a product ie. the non-cashable elements of time, administration, sourcing and manual benchmarking.
In a nutshell, any eprocurement process that meets all the Best Practice requirements will consistently deliver Best Value. That is to say it will deliver both cashable and non-cashable savings.
John Oates
IT Advisory Partner for Baker Tilly
“Adopters of accredited solutions, for the first time ever, now have a seal of approval that can be used to qualify the solution's credibility to decision makers.”
The ICAEW has recognised www.theITindex.co.uk and related buyer tools as a European benchmark for delivering consistent time and fiscal savings through an efficient online IT procurement process.
Accredited e-procurement solutions:
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