Increased Transparency in Below Threshold Spend

Purchases made below the national thresholds are usually the "blind spots" of most public procurement teams. These purchases tend to fall "under the radar", leading to a lack of transparency and accountability to potential inefficiencies and risks. Since they are not subject to detailed procurement procedures, there can be minimal tracking, making it difficult for public buyers to understand how funds are being allocated. This gap can foster issues such as sub-par suppliers continuing to win contracts, ultimately resulting in less value for money spent.

By bringing these purchases into the spotlight, procurement teams can gain valuable insights into their overall spending patterns, identify opportunities to save money, and ensure that contracts are awarded more fairly. As we move into 2025, digital tools will make it easier for buyers to review purchases, create better contracts using dynamic templates, and manage documents efficiently. Additionally, integrating approval workflows will ensure timely sign-offs from relevant stakeholders, improving the overall procurement process.