We entered the CIPFA Public Finance Outstanding Procurement Initiative category and have been selected as finalists with our client Oldham Council.
CIPFA Public Finance Awards
The CIPFA Awards highlight and recognise innovative work carried out in public finance and governance. They award people, products and services that demonstrate excellence and originality within public finance.
Oldham were our first public sector client and we are delighted to be finalists, highlighting Oldham’s achievements since delivering the Early Payment Scheme. Through the implementation of the Early Payment Scheme, Oldham Council has been taking the lead in building important relationships with local businesses and their suppliers.
Working closely with Oxygen to embed an early payment culture coupled with an efficient, sustainable approach to Procure-to-Pay (P2P) practices across multiple functions and directorates within the Council. Oldham Council is embracing the use of innovative technology to deliver significant value for its local businesses, supply chain and residents.
The National GO Procurement Awards
The GO Procurement Awards celebrate excellence in Procurement, we entered these awards with our client South Tyneside Council. We chose to enter two categories, one that is buyer focused and from South Tyneside’s viewpoint, and one that is more supplier focused from Oxygen Finance. We have been notified that we are finalists for the ‘GO Procurement Innovation/Initiative of the Year- Buyer’ and the ‘GO Best Innovative Solution – Supplier’ categories, which is fantastic news.
South Tyneside Council have been working with Oxygen since 2013 to implement their Supplier Incentive Programme (SIP) that has been a great success to date for the Council and their suppliers. In the context of ongoing financial challenges, the specific objective of the SIP is to streamline the council’s P2P process and leverage this efficiency via an innovative rebate management platform to generate rebates from suppliers in return for payment of invoices before due date.
With a forecast to save the council £800K over 5 years, the rebates generated provide a valuable income stream to contribute towards the vital services, jobs and education that residents of South Tyneside really need.