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Government Innovation Highlight of the Day: Open Contracting


May 20, 2014

Doug Hadden, VP Products<p>

Government procurement transparency, for a government vendor like FreeBalance, is a godsend. It cuts down on costs and increasing revenue opportunities. This ultimately helps our government customers achieve better value for money. The realities of our B2G business is that so many government procurement cycles remain opaque. That’s why I’m looking forward to updates on the Open Contracting initiative today at the 28th. Annual International Consortium on Governmental Financial Management (ICGFM) conference in Miami. Marcela Rozo from the World Bank will be giving us an update.

The focus of the standard has been on anti-corruption. There is no question that graft can prosper when government procurement is opaque. Businesses are often the best auditors of suspicious procurement when the data is open, accessible and available.

It would be short-sighted to engineer an open contracting standard based solely on the anti-corruption mandate. Open contracting could provide significant improvement in value for money.

A single standard for procurement open data promises to cuts costs further. To help businesses better prepare on a global basis for government opportunities.

Wish List

As you can imagine, the process of developing an international open data standard requires compromises. Broad and deep technology standards often favour large incumbent vendors. The value of information domains often differs among sectors. My wish list includes: