The National Association of State Procurement Officials (NASPO) recently issued a statement on the “Top 10 Focus Areas for State Procurement,” which caused us to think about the unique set of challenges the public sector faces when it comes to procurement.
The public sector is under a constant mandate to reduce costs, optimize contracts, and spend intelligently and transparently. So technology solutions that enable best practices in spend management must deliver rapid time-to-value.
The public sector also faces the obstacles of dealing with multiple agencies, districts and departments, an abundance of data from multiple sources and the need to choose suppliers carefully. While these challenges are not necessarily unique to the public sector, the private sector doesn’t also have to maintain a high level of transparency and reporting on what is being spent across state and local governments.
The NASPO statement reinforces this idea of data transparency. In fact, NASPO named “Spend Analytics and Greater Procurement Oversight and Efficiency” as its second priority for state governments in 2015.
Keep reading this article at: http://publicspendforum.net/brush-up-on-your-spend-analytics/