Estimated reading time: 5 minutes
Introduction
Complex procurements undoubtedly represent a significant investment for organisations across various industries. These processes demand substantial time, financial resources and come intertwined with risk. Each and every step taken throughout the procurement journey carries the weight of potentially steering the entire project towards success or failure. Making informed and strategic decisions from the outset can significantly influence the trajectory. Given the constraints often imposed by limited budgets, the initiation of complex procurements takes on significant importance.
Through its analytical prowess, the ROI Calculator presents an opportunity to gain invaluable insights that can potentially redefine the entire approach towards orchestrating complex procurements.
This article explores the new ROI Calculator tool, offering insights into how it can reshape a procurement strategy.
ROI Calculator
In the ever-evolving landscape of procurement, the role of technology cannot be understated, gone are the days of guesswork and uncertainty. The ROI Calculator enables you to effortlessly visualise the potential savings of your complex projects – all with just a few clicks.
This powerful tool takes the inputs and crafts a comprehensive projection, showcasing the financial benefits of implementing AWARD®, the leading complex procurement solution. Whether you are managing a single, handful or multitude of complex procurements, this tool removes the ambiguity and delivers detailed estimates revealing potential gains.
Generate insightful projections simply by entering the number of complex procurements run, the average contract value, number of evaluators involved and the average duration of the evaluations. You’ll get a breakdown of expected savings of different risks, processes and environmental factors including the costs you can avoid. These estimates offer a clear view of the financial gains you’ll make and will support business cases and funding approvals allowing you to adopt the AWARD® Solution and reap the rewards.
Find out how much you can save with the ROI Calculator here. Or continue below to discover more about the AWARD® Solution.
AWARD® Solution
Procurements of complexity require a comprehensive approach that go beyond traditional methods. AWARD® is designed to guide you through every stage of your complex procurement from market engagement to the evaluation, analysis and your reporting.
Traditional methods, such as spreadsheets and sourcing tools lack the specificity required for high value, high-risk projects. Organisations recognise the value of ceasing offline functions from their complex procurements entirely. The NHS moved away from spreadsheets to “minimise errors and ensure a robust audit trail”. Their use of the audit trail provided by AWARD® resulted in “successfully defending against 7 legal challenges saving hundreds of thousands of pounds in legal fees, compensation and/or re-running competitions.” The AWARD® Solution, with its tailored approach ensures a transparent, auditable and robust process that aligns with procurement regulations, protecting you from legal challenges.
Benefits of the AWARD® Solution
- Mitigate risk: Avoid making the wrong decisions in your complex procurements.
AWARD® is specifically built for procurements of all complexities, it will support you in eliminating risk and allow you to accurately shape the solution’s capabilities to any of your complex projects.- Infrastructure Ontario selected AWARD® to run their $2.5 billion railway project as large projects in this sector typically overspend by significant amounts. AWARD® has been proven to take “15% less time to manage procurements, and significantly reduce the risk of delays, cost overruns and subsequent legal challenges.”
- Maximise efficiency: Streamline your entire procurement process from start to finish.
AWARD® includes automatic recording of all actions, automated bidder debriefing, access to real-time team member progress reporting, task delegation capability and dedicated communication channels.- The DVLA selected AWARD® to “help improve the evaluation process and introduce a level of flexibility by providing customisable real-time reporting, covering key elements such as results, user progress and issues, and providing valuable insight into the bid evaluation and debrief processes giving assurance that projects can be completed on time.” AWARD® also integrates with your sourcing tool and tendering systems for maximum efficiency to deliver a seamless experience.
- The DVLA selected AWARD® to “help improve the evaluation process and introduce a level of flexibility by providing customisable real-time reporting, covering key elements such as results, user progress and issues, and providing valuable insight into the bid evaluation and debrief processes giving assurance that projects can be completed on time.” AWARD® also integrates with your sourcing tool and tendering systems for maximum efficiency to deliver a seamless experience.
- Achieve value for money: Select the best value for money outcome in your evaluation.
Apply a robust and transparent supplier selection mechanism containing accurately weighted criteria to ensure the scoring methodology is fair and unbiased.- The MOD’s use of AWARD® enabled their complex procurement project to quickly ascertain that there were several viable bids that could deliver the capability required. “AWARD® was invaluable in ascertaining which of these represented the best value for money option for the MOD.”
- A procurement team in the NHS “is constantly seeking new and innovative ways of delivering healthcare procurement services across the region. The NHS selected AWARD® “as an agile and highly configurable solution to support our business requirements, and also in delivering value for money and robust procurements to our customers. AWARD® is key to the CSU meeting the challenges associated with the delivery of transformational improvements in healthcare services”.
The AWARD® Solution effectively takes all the precautions and steps necessary to deliver the best possible outcomes for every complex procurement project.
Conclusion
In complex procurements, precision and decision-making are pivotal. With AWARD® and the ROI Calculator, it empowers you to take charge of your procurement landscape, uncovering potential that might otherwise remain hidden, a gateway to transformative outcomes. By harnessing these tools, you can explore your potential and help position your organisation for procurement success by undertaking the AWARD® Solution for your future complex procurement projects. Click the pink “ROI Calculator” button below to get started.
