TradingPartners Works with Government to Reduce Costs by 22 Percent on Targeted Spend
By Tradingpartners, PRNEMonday, July 18, 2011
LONDON, July 19, 2011 -
- Savings Achieved Across Central and
Local Government, Defence, Education, Health, Public Services, and
Prisons
TradingPartners™ (
today announced it has saved its government sector customers an
average of 22 percent of targeted spend, through its spend
management technology and services. TradingPartners has worked
closely with many public sector customers since 2003 enabling them
to reduce costs, streamline buying processes, and help negotiate
more effectively and efficiently.
TradingPartners’ spend management activities have saved the
government sector over 170 million pounds across defence,
education, healthcare, prisons, and services sectors. The breadth
of savings categories is highly diverse, and includes carbon
credits, construction materials, utilities, food, furniture, IT
hardware, mobile phones, office supplies, temporary labor,
vehicles, travel services, and uniforms.
Mark Barnekow, CEO of TradingPartners said, “At a time when
governments are under pressure to balance budgets, more aggressive
and transparent spend management programs are needed.
TradingPartners helps public sector customers develop strategies
and best practices so they can identify the right suppliers,
negotiate more effectively and save taxpayer money.”
Many of TradingPartners’ spend management activities with
government customers transcend the typical spend negotiation
activity. TradingPartners actively works with government and public
sector customers to execute their initiatives and, where
appropriate, helps to aggregate spend across multiple entities.
TradingPartners works with incumbent suppliers and identifies new
suppliers who meet the specific regulatory requirements in areas
such as diversity and sustainability.
The UK government currently estimates a 2012 annual spend of 703
billion pounds (1) of which TradingPartners estimates approximately
three to five percent (21-35 billion pounds) is negotiable. Based
on the company’s government savings statistics, TradingPartners
estimates the government could save between 4.6 billion pounds to
7.7 billion pounds if strategic spend management and negotiation
practices were to be applied.
About TradingPartners
Based in Chicago, with European headquarters in London, and
operations in Asia and South America, TradingPartners provides the
most comprehensive and effective spend management technology and
managed services to governments, retailers and other corporations
to reduce the cost of their direct and indirect purchases with
tangible results often in the 10-25% range. TradingPartners’
unparalleled domain expertise, comprehensive supplier database, and
robust technology platform has helped hundreds of public sector
entities, manufacturers, retailers, and service firms achieve
dramatic, tangible cost savings. For more information, visit
(1) Source: www.ukpublicspending.co.uk
Sharon Barclay, +1-617-571-1233, sharon at bluetrumpetgroup.com, for TradingPartners
