About this article

Read time:

4 minutes

Category:

Client success

Procurement battling the deficit

(Originally published on Wax Digital’s blog)

Alongside Durham University, Wax Digital recently undertook a research programme to investigate the opinions and outlooks of public sector procurement and finance professionals towards deficit repair. Somewhat surprisingly the findings revealed a positive and pragmatic viewpoint from those leading the charge into battle with the deficit.

Although it was acknowledged that times ahead are going to be difficult with 78% of respondents anticipating budget cuts of more than 5% this year and 69% expecting these cuts to increase the following year; the individuals at the frontline are still keen to forge ahead with cost-saving initiatives and processes. It was evident that public sector procurement and finance teams want to simply get on with the challenge and recognise that they need the freedom and the tools to do so although this is not always possible. Bureaucracy and lack of automation were highlighted as obstacles that they face.

Process automation and technology was highlighted as key enablers to drive efficiencies, cost savings and help achieve the targets set by the new coalition government; findings also revealed that where eProcurement solutions have been introduced savings have been realised. 53% of the sample saved between 10% and 50% from new IT solutions.

From working with both public and private organisations we have seen the difference that these types of solutions can bring and how those forward thinking organisations that drive change and purchasing initiatives reap the benefits. This is in stark contrast to only 6% of the public sector survey respondents who felt that their spend management processes were “highly efficient”.

With the challenge clearly set by the new government it is time for public sector procurement and finance professionals to lead the charge into the battle with the deficit, but do they have the armouries to fight a good fight?

Download your copy of the research report and post your comments, sharing your thoughts about the emergency budget and the challenge of deficit repair for the public sector.

About this article

Read time:

4 minutes

Category:

Client success

Are you in your measurement era?

Driving strategic storytelling with market trends reports

Browse more blog posts

Posted on
byClaire James
Have you ever been asked to demonstrate the value of your marketing budget to leaders within your business? You’re not alone. According to LinkedIn’s B2B Benchmark report, 76% of B2B marketers feel under pressure to prove return-on-investment in the short term while nearly half cite ROI as the most important metric when reporting to the CEO, CFO and other board...
Posted on
byHonor Williamson
Staying ahead of trends and understanding which stories are resonating with target audiences is integral to great PR. Given the volume of noise in today’s media, making use of tools can help reveal patterns, highlight relevant topics, and guide your content strategy. This is where the market trends report can be a real game-changer. Market trends reports provide insights into...
Posted on
byClaire Lamb
The Guardian announced last week that it will stop posting on X. According to the newspaper, the “benefits of being on X are now outweighed by the negatives.” It went onto say that “this is something we have been considering for a while given the often-disturbing content promoted or found on the platform.”  It’s clear that X has become a...
Posted on
byJack Snell
In today’s fast-paced business environment, every penny counts, especially whilst businesses are under immense pressure to justify every line of their balance sheets. This is where the important of measuring your PR activities comes into play. At Skout, we believe that effective measurement is the key to demonstrating a tangible return on investment in your PR efforts. We recently launched...
Posted on
byRebecca Brown
There are many brands out there that are typically associated with their consumer products, but their heritage actually lies within the B2B market. In most scenarios, the consumer side of the business has grown so big, that it can easily be forgotten that they also sell to a business audience too! GPS specialist and smart watch developer, Garmin, is a...
Posted on
byJack Snell
It’s evident that AI is becoming increasingly beneficial in the daily responsibilities of marketing and PR professionals. Whether it’s streamlining processes or eliminating mundane tasks, there seems to be an AI software tool for everything. But with advancements in AI seemingly happening every day when we log on to work, sometimes it can be hard to keep up, or even...
Posted on
byJack Snell
With summer in full swing, we thought this was the perfect opportunity to have a little fun! Take our quiz and test your knowledge – a perfect excuse to take a well-earned break (we know you marketers are very busy 😉). All answers are at the bottom (no cheating!) And please do let us know your score. PR & marketing...
Posted on
byClaire James
I recently attended a leadership training course where we were asked to define our leadership style and our core values. We were guided through this exercise during the course but it got me thinking about my core values – the things that, when challenged, can prompt a physical reaction and an emotional response. It didn’t take me long to work...
Posted on
byClaire James
The construction sector has long struggled with issues around insolvency. This could, in part, be due to the fact that there are so many sole traders and small firms out there sub-contracting that have struggled financially with the Covid-19 situation and then with the supply chain price increases. But the industry has been sitting at a rate of between 750...
Posted on
byJames Weaver
The fintech industry is renowned for its innovation. In a highly competitive and fiercely contested landscape, connecting with your target audience is crucial, especially when aiming to penetrate a market as dynamic as the UK’s. Therefore, leveraging the power of PR can be a game-changer for your fintech business. Here, we detail how B2B PR can help your fintech brand...

Get in touch

Skout
11 Market Place
Macclesfield
Cheshire
SK10 1EB
Send us a message
Name(Required)

Send us a message