At the end of December 2019, the 19/20 Financial Year was looking set to signal a fairly large increase in spend by local authorities in England with the private sector, with the £44.4Bn spent representing a 12.7% increase on the same time in the previous year. The events that have occurred since need little introduction, but it’s safe to say that both councils and their suppliers now find themselves in unchartered territory.
Porge’s Illuminator system adds up and categorises the invoice data disclosed by over 1100 public sector organisations and will soon be able to reveal not only the extent of the Coronavirus pandemic’s effect on the wider public sector spend picture, but also how individual markets have been affected.
One of the main concerns of local authorities is likely to be around the resilience of their suppliers. Illuminator has long been helping councils to manage the risk associated with their external service providers, with its evidence-based data helping local authorities to manage existing suppliers better, spot failing suppliers before it’s too late and make better commissioning decisions. As well as this, Porge’s parent company Oxygen Finance is helping councils to secure their supply chains by accelerating cash to businesses in response to the crisis.
Councils all over the country are going to great lengths to support businesses in these uncertain times and Porge is proud to be able to support local authorities with the increasingly important need for effective and informed supplier management.