Why Utility Infrastructure Firms Need a Digital Focus on Procurement

Written by utility sector experts, this e-book considers 8 reasons why utility infrastructure firms should streamline their procurement operations, and offer solutions that will not only enhance capacity and capability, but also future-proof the industry from the challenges ahead.

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Utility firms are under pressure to act more sustainably, enhance customer service and improve processes and procedures. And with the commencement of AMP8 in less than 18 months and the 2023 Procurement Bill expected to modernise procurement rules and procedures, there is increasing pressure for the utility sector and the infrastructure firms supporting it, to work more efficiently and effectively.

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8 reasons why you should streamline your procurement operation

Get this comprehensive guide with insights from our utilities experts at Coupa and Barkers Procurement highlighting why utility infrastructure firms need a digital focus on procurement.

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Why are 8 reasons why utilities should streamline their procurement operation?

1. It is essential that public infrastructure organizations track spending accurately in order to censuring compliance with reporting standards whilst being able to identify potential cost savings.
2. For public utilities, managing contracts effectively, efficiently, and transparently is especially important because the lifetime of contracts in public infrastructure projects is typically lengthy due to their size, complexity and the fact that they relate to CAPEX.
3. It is crucial for utilities to identify and minimise the risk to which they are exposed, which is often exacerbated by manual processes and the complexity of the supplier system.
4. Public utilities have been slow to implement digital processes for greater efficiency in their procurement processes, even though they have been digitizing processes in many other areas of their business.
5. It is important that utility infrastructure firms quickly and easily demonstrate compliance to their sector specific regulators, such as Ofwat or Ofgem.
6. Public utilities are facing increased demand for services and thus would benefit by easier ways to anticipate demand and prevent shortages or delays.
7. Streamlined and efficient payment processes ensure that your suppliers are paid on time, thus minimising risk, inefficiencies, and delays.
8. By improving the integrity of financial data, utilities can more easily comply with regulations such as the UK SOX controls.

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What are 7 reasons Coupa can help utilities to be more streamlined, profitable and sustainable?

1. Optimize supplier relationships.
2. Drive efficiencies across the contract lifecycle.
3. Gain visibility of supplier performance to minimise risk.
4. Deliver on ESG goals.
5. Streamline project management.
6. Get better sourcing results.
7. Increase agility in your maintenance, repairs and operations (MRO).

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Who created this E-book?

This E-book is provided by Coupa and Barkers.

Coupa is the cloud-based Business Spend Management (BSM) platform that unifies processes across supply chain, procurement, and finance functions. Coupa empowers organisations around the world to maximize value and operationalise purpose through their business spend. Coupa’s community of 3,000+ customers use the platform to maximize the value of nearly $5T of direct and indirect spend to date. To learn more about Coupa, visit coupa.com and follow us on LinkedIn and X (Twitter). Leading utility companies choose Coupa: Engie.

Barkers is a multi-award-winning, carbon neutral, procurement consultancy offering specialist procurement and supply services across a variety of industries including the utility sector, public sector and beyond. Barkers’ client-focused procurement services range from cost transformation projects to complex procurement transformations. With a focus on strong relationships, Barkers is committed to delivering sustainable and long-term value to its clients, securing savings in excess of £350 million for its utility sector clients. As digital procurement specialists, Barkers is an approved Coupa implementation partner within the UK and Ireland, winning a Spartan award at Coupa Inspire 2023. To learn more about how Barkers empower utility companies to spend efficiently and effectively, visit Barkers Procurement. Read our case studies from Southern Water and Jersey Electricity.