What Suppliers Think About a Digitized Procurement Process
The data we gathered…
- During the first quarter of 2023, we asked suppliers their thoughts on digitized procurement and the benefits they experienced when working with buyers that utilize online procurement.
- 53% of suppliers saw an increase in public sector buyer efforts to digitize their procurement processes.
- 23% of these suppliers expect to see an uptick in the digitization of the public procurement processes in 2023 and moving forward.
Bidnet Direct aims to enable a superior procurement experience by connecting public sector buyers and suppliers. We strive to deliver a solution that benefits both buyers and suppliers.
In early 2023, we asked suppliers who are registered with our eProcurement platforms their thoughts about digitized procurement in the public sector and how this affects their outlook in government bidding moving forward.
The data we are presenting in this article is primarily isolated from those who have experienced government bidding and have submitted bids through an eProcurement tool provided by public sector buyers unless otherwise noted.
For those suppliers who have experience with government bidding, 53% of the respondents saw an increase in digitization or improved procurement processes in the public sector. Although it’s not specified in the survey if this is due to a shift during the pandemic, on Bidnet Direct, we saw a 22% increase in the public sector utilizing sourcing and CLM solutions within the platform starting in 2020. That is 500+ public sector buyers who joined the platform within 2020-2023.
Whether or not the shift to remote work during the pandemic influenced the increase of digitized procurement processes in the public sector, it opens more opportunities for suppliers and confidence in better government bidding.
It’s More Than Just Procurement
Public procurement goes beyond just following state initiatives and stimulating the economy. It empowers communities and promotes equal opportunities.
48% of the overall respondents are either part of Minority-Owned, Women-Owned, Disadvantaged Business Enterprise, or Veteran Business Enterprise businesses. 30% of these suppliers believe that more solicitations published focused on M/W/DBE/VBE suppliers.
Digitized procurement can provide visibility to suppliers’ status and help create a supplier diversity database that promotes connection and equal opportunities.
Embracing Digitization to Better Public Procurement
While technology is not always the answer to your organizational pain points, improving existing processes by modernizing legacy systems is the first step in eliminating inefficiencies in the procurement process, including sourcing. Suppliers are ready to adapt to digitization of the procurement process because it creates an easy way to find and respond to the solicitations that are relevant to their business.
According to the suppliers, the top benefits they experienced from interacting with a digitized procurement process are easy access to opportunities and a streamlined bidding process. While some respondents also think it promotes more opportunities for Minority-Owned, Women-Owned, and DBE-Owned businesses.
Bidnet Direct’s solutions can help your organization enable critical initiatives. With our Strategic Sourcing, Vendor Management, and Contract Lifecycle Management solutions, you can digitize your process with ease.
Find out how Bidnet Direct can help your government organization today! 
