August 17, 2022
September 7, 2022
In June we kicked off our brand new GovStart programme - taking on a cohort of 34 startups across a number of different sectors. In this blog post we delve into the solutions of our 7 Procurement and Business Systems startups spanning areas such as Public Procurement, financial management, Property Data and Payments.
In the UK, one in every three pounds of public money, some £300 Billion a year, is spent on public procurement. For government today, few priorities are as important as how it spends its budget - and critically - the technology it relies upon to do so. Yet, as digital transformation has come to penetrate every area of government services, procurement functions have been amongst the slowest to adapt to new approaches. Most purchasing teams rely on a small number of large incumbents to manage their procurement pipelines, while other legacy technologies dominate government’s core content and document-management systems.
Simply put, procurement tools used by the government are out-of-date and in need of modernisation. However, there has never been so much innovation in public procurement, and, in far too many cases, public authorities are failing to benefit from the new wave of tools available for their commercial teams. Now a new generation of startups are providing services and solutions to every stage of the public sector buying process, as well as the business-critical processes that accompany it.
At PUBLIC, we’re delighted that many of the companies driving this change have joined us on our GovStart accelerator. Working across the full spectrum of government commercial functions - from tendering to payments and data management - we are excited to partner with the innovators bringing a new generation of tools to the public sector.
Ignite Procurement - Ignite Procurement is an advanced yet simple spend management solution that gives users the power of correct and holistic data, transparency, and actionable analytics to empower data-driven decision-making. This way, users not only save money and avoid risk but also make smarter choices and drive value across their organisation. Ignite's intelligent transformation and processing algorithms map, cleanse and enrich your data.
Tendium - Tendium believes that everyone should feel empowered to participate in public procurement. Tendiums platform centralises tender data and uses digitalisation and automation to modernise the entire tendering process from end to end. This means more efficient, transparent, and accessible procurement – for the benefit of governments, businesses and people alike.
DeepStream - DeepStream is the leading cloud-based procurement software that revolutionizes communication and negotiation between buyers and suppliers. Deepstream empowers businesses to save time, reduce spend and transact compliantly by bringing your RFx processes, into a single cloud-based platform.
Yordex - Yordex is designed for organisations where many employees, beneficiaries or customers regularly spend money. Yordex allows organisations to own their payments which gives them more control, a better user experience, deeper integration into their systems and processes and the ability to earn revenue from interchange.
Two - Two allows Merchants to offer instant trade credit terms directly in the checkout. Buyers can choose to pay in 14-90 days, Merchants get paid out immediately, and with no credit risk.
Eamli - Eamli is an AI-powered decision-intelligence platform that powers data-driven decision making using real-time insights to analyse millions of possibilities in ways humans can’t. With a holistic view of data instantly accessible, organisations have all the information they need to make projects and programmes move much faster – freeing up more time to direct focus where it’s needed.
Silex - Silex offers technological solutions for augmented supplier sourcing and supplier data management. By improving performance in the most strategic stages of procurement, Silex helps buyers become the new agents of change!