This month sees the launch of our all-new Tracker GovSpend Report, the only report in the UK that provides in-depth analysis of public sector spend, trends and insights on the public sector marketplace.
The inaugural GovSpend report provides a barometer for private sector businesses that are looking to identify opportunities and understand the nuances of the procurement landscape.
The report will be issued quarterly, allowing suppliers to keep up to speed with government spending and gain actionable insights to help businesses capitalise on public sector procurement opportunities.
Seize the opportunity
Opportunities exist for suppliers of all types and sizes.
The Public Sector has always been one of the biggest spenders across the UK, creating vast opportunities for suppliers; an annual spend of some £290bn every year with the range of goods, works and services required varying wildly, from pencils to buildings.
Procurement has a role to play in Government aims such as opening up public contracts to more small businesses and social enterprises, innovating in public service delivery, and meeting the net zero carbon target by 2050.
The market – your key takeaways
Among the highlights, the market – and businesses in general – are feeling the impact of external factors, such as Brexit, inflation, and the war in Ukraine.
For example, the public sector is one of the biggest consumers of fuel in the UK, and not just for vehicles, the energy crisis is also having its own influence on the current landscape.
External factors which impact procurement can, however, also create an opportunity for suppliers to demonstrate the additional value they can add – especially through innovations that can enable services to be delivered more efficiently or at less cost.
Buyers need solutions – so this is a good time show how your business can help. Certainly, understanding the wider market impacts and how this is affecting procurement decision-making can only help.
We’re seeing strong contracting activity across each part of the public sector – with Central Government, Local Government and Education performing particularly well.
Opportunities within the Health Sector remain strong, as the focus shifts from response to the COVID-19 pandemic to recovery and reduction of waiting lists.
So, which parts of the public sector have been the most active in Q1 of 2022?
All sectors have experienced growth in published contract notice volume versus the same period in 2021 and several have also shown positive growth versus Q4 of 2021.
Particular stars of purchasing include:
- Education – up 6% on the same period 2021 and 11% versus last quarter
- Transport – 12% growth versus Q1 2021 and 18% growth on quarter
- Utilities – 12% up on the same period and 6% up on last quarter
What’s being bought
Data from our Tracker reports show us that the marketplace is very active with thousands of notices published every week, by a wide variety of public bodies, with just under half of these opportunities valued at less than £100,000 and ideally suited to SMEs.
The way that Tracker is collated means that data can be dissected by CPV codes, giving our customers better insight into sector behaviour.
This latest report sees the most commonly used individual CPV codes relate to:
- Health and Social Work services
- Construction Work
- Education Services
Outside of the top three individual CPV codes, demand for IT and related services remains strong – driven by increasing digitalisation.
How Tracker can help
Our Tracker tool has over 20 years of contract notice history and the details of thousands of current and prior framework notices, buyer spend, market leads and sector-specific news, creating actionable insights for you to engage at the earliest opportunity.
If you are seeking to improve your tenders and find these new opportunities, business intelligence is key. Tracker can not only help provide you with tender opportunities and knowledge of future pipelines, but also help you engage with the buyers and position your company as a solution provider.
To find out how Tracker can help your business book a complimentary demonstration with our expert team today.