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Government Value for Money often an Integration Problem

 

March 14, 2016

The final session at the FreeBalance International Steering Committee (FISC) conference in Managua, Nicaragua focused on “value for money”. Procurement, e-procurement, contract and asset management were important topics discussed.

Why is this critically important?

Public investment planning is a requirement for country growth. Social investments are needed to reduce inequality and improve health and capacity. There is a huge public investment gap – estimated at $1T annually.

5 Gap

The majority of citizens in developing countries lack effective infrastructure and citizen services.

6 Gap

Yet governments spend $9.5T annually. Studies show lower spending and improved “value for money” could be leveraged to close this gap.

3 V4M

 

Statistics indicate a modest improvement in value for money and spend management can overcome the annual infrastructure gap.

7 Percent

Lessons Learned from FreeBalance Government Customers

Government attendees shared lessons from e-procurement initiatives. For example, the Government of Timor-Leste reported improved prices and decreased corruption thanks to e-procurement, one of four online transparency initiatives.

We also tried an interesting exercise that combined value for money and change management concepts. Well, it was the last day of FISC. Some levity was necessary after so many days of hard work. Hard work? Yes, FISC is an exercise in adapting the FreeBalance roadmap, so there are workshops and homework.

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Doug Hadden

Doug Hadden

Executive Vice President, Innovation at FreeBalance
Doug is responsible for identifying new global markets, new technologies and trends, and new and enhanced internal processes. Doug leads a cross-functional international team that is responsible for developing product prototypes and innovative go-to-market strategies.

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