Private sector suppliers to government have long understood the market intelligence benefits of using data analysis specialists to drag meaningful insight from public sector procurement data in order to help build competitive advantage.
But there is also a huge opportunity for government buyers to better understand agency-wide procurement trends – or even whole-of-government procurement trends – through better intelligence derived from their own procurement data.
When InnovationAus.com launched its partnership with data intelligence company Tendertrace in June, our article generated a huge amount of interest from public sector readers.
The insights for government procurement executives that can be derived from raw procurement data can have immense value, particularly in relation to tracking government policy commitments through programs like Indigenous procurement policies, sustainable procurement practices or local SME participation rates.
With the Buy Australia Plan and the Future Made in Australia Office shaping new ways for the Australian government to build domestic industry capability, tracking procurement programs has become more important.
The Tendertrace demo ‘Making sense of procurement data for Government’ will be held 9.30am to 11am on Friday August 4th at the Canberra Museum and Gallery at 176 London Circuit, Canberra. Hosted by InnovationAus.com and Tendertrace this special demonstration has been tailored specifically for government users.
The Tendertrace platform is an AI-driven data intelligence platform, extracting insights for procurement teams. In this short morning event, attendees will have the opportunity to see Tendertrace in action, as co-founder Abu Odigie walks through some of the key data insights that can be generated by users at the push of a button.
Mr Odigie will take part in a moderated discussion with InnovationAus.com publisher Corrie McLeod and present a data visualisation of successful contract patterns over the past 24 months. He will also demonstrate key indicators of successful SME participation in procurement activity. He will also take questions from the audience and use the Tendertrace platform to provide real time answers to specific questions about contract data.
“The Tendertrace platform is incredibly powerful, both providing macro-level procurement trend visualisations and delving deep into the data to measure performance in highly-specific procurement use cases,” InnovationAus.com’s Ms McLeod said.
“There is a common misconception that because governments’ generate the procurement data that they are best placed to understand its nature. It is not until you have seen that insights drawn out of raw contract data that you start to understand the real potential of this AI platform.
“Government spending is a tremendously powerful economic and social lever. Best practice and purposeful procurement by governments can produce enormously positive outcomes. Tendertrace provides the data intelligence that can help maximise that positive impact.”
In addition to the subscription-based tenders and contracts data intelligence platform, Tendertrace also provides market reports and bespoke research services.
Join InnovationAus.com and Tendertrace for this Canberra-based ‘Making sense of procurement data for Government’ demonstration, tailored specifically for government procurement teams. You can reserve you seat here.
