Unpacking 'The Official Transforming Knowledge Drops'.

The Procurement Act 2023 will overhaul how public organisations purchase goods, works and services. But how will it affect you? In this month's newsletter, we give a quick summary of the intent behind the changes, plus share our breakdown of 'The Official Transforming Procurement Knowledge Drops'.

The promise of the Procurement Act 2023 (arriving later 2024) is to overhaul how public sector organisations purchase goods, works and services. The new regulations will apply to all public bodies as well as some utility sector organisations. It aims to simplify the procurement process, increase competition and ensure better value for taxpayers' money through:

• A single set of rules for all public contracts
• More flexible procurement procedures
• A greater emphasis on value for money, including social value and sustainability
• A new central digital platform for suppliers to register and find opportunities
• Tougher action on suppliers who pose a risk.

A big challenge for any public sector procurement leader, or any supplier wishing to work with these organisations, is getting to grips with these changes and what they really mean in practice.

That's why the Government has produced 'The Official Transforming Procurement Knowledge Drops'.

"Great!" you may think.

But we have found that there is a huge amount of knowledge to digest in this high level overview. And this information is essential for any procurement team that wants to get ready for the impending changes. In the Government's own words...

The Procurement Act is only the start of achieving great commercial outcomes for the public sector. The Procurement Act sets the framework, but it is outstanding commercial leadership and capable suppliers which will deliver those outcomes.  Contracting authorities need to take the necessary steps to ensure they are prepared and ready to utilise the Procurement Act to its full potential.

What does 'getting prepared' really mean for you?

Here are our 5 top tips for actions you should be taking now...

1. Now is the time to train and share knowledge across your team. This could be through the official e-learning modules provided by the Government, or even something as simple as informal lunch-and-learn sessions to develop plans around the changes you need to make.
2. It's time to get your house in order!Review your current contracts to decide which of your existing agreements would be better to undertake through the new regulations.
3. Review, review, review.Put time aside every week to review your internal guidance, policies, procedures and governance to make sure everything is ready.
4. Get your IT up to speed.Make sure your existing procurement and finance systems are adapted for any changes to your procurement operations.
5. Don't be afraid to innovate.Empower your colleagues to think of new ways of working as a result of the incoming changes, embrace innovation and be flexible to different processes.

We know you are busy, so to help you process and understand what these new regulations mean for you, we've put together a handy guide for procurement leaders that explores:

• The key changes between the previous regulations and the Procurement Act
• The benefits of a new approach to public procurement
• Steps you can take now to ready yourself for implementation

We hope you find our summary document helpful. It goes without saying that our experts are always on hand if you need further advice or guidance on the incoming changes and how best to (re)tender for upcoming contracts.

Drop us a message or give us a call on 0330 088 1620 and we'll be happy to help.

📖 Happy reading 😊