TheyBuyForYou explore how procurement and public spending data, paired with data management, analytics, and interaction design, can be used to innovate four main areas:
- Economic development: Delivering better economic outcomes from public spending, in particular for SMEs. SMEs should be able to get better access to public tenders, competing with more established players.
- Demand management: Spotting trends in spending and supplier management to achieve long term goals such as cost savings and efficiency gains.
- Competitive markets: Identifying areas for cost cuts through healthier competition.
- Procurement intelligence: Producing advanced analytics to inform decision support, risk monitoring and supply market analysis for procurement and purchasing managers.
To achieve this we are building a new technology platform using public spending and corporate data from a wide range of sources in Europe. Our platform comprises Web-based services and APIs that will publish, curate, integrate, analyse, and visualise a comprehensive, cross-border and cross-lingual procurement knowledge graph.
We are also supporting our four innovation scenarios through the building of an online toolkit and a public portal. This will enable everyone – suppliers, buyers, data journalists, data analysts, public authorities and all citizens – to explore and understand how public procurement decisions affect economic development, efficiencies, competitiveness and supply chains.
For private buyers looking to overhaul their procurement and purchasing decisions, we will deliver vendor intelligence solutions with advanced analytics capabilities. These will provide the ability to monitor risk, support decision making, and identify potential collusive tendering.
Our technical vision will be realised in three business cases, aimed at the main customers for procurement services. Two business cases will be with public administrations at the national and local levels in Spain and Slovenia. These will demonstrate how new data value chains can make processes more efficient, while in the same time fostering economic development and restoring fairness and true competition in the supply market. The third business case will result in a new commercial product, developed by TBFY partner Cerved, for decision makers in procurement and supplier management.