Connecting Cultures in the Higher Education Sector

14th March 2018

On 25th – 27th March, Science Warehouse will be a sponsor delegate at the British Universities Finance Directors Group (BUFDG) 2018 Annual Conference taking place at the University of Hull. The theme for the conference is Connected Cultures and taps into Hull’s ‘UK City of Culture‘ status.

As custodians of substantial spend, Higher Education Institutions have significant influence in the economy. Universities’ spend ripples through the supply chain – locally, nationally and globally. University procurement is therefore a powerful force and has a big responsibility to ensure transparent, controlled and ethical allocation of spend.

Our research conducted over the last six years shows that procurement is increasingly strategic. This is reflected in initiatives such as the Responsible Procurement Group and the stance that institutions are taking in areas such as sustainability, modern slavery, diversity and other CSR initiatives.

eMarketplaces are an essential platform for procurement and support connected cultures in a number of ways: firstly by connecting Buyers with trading partners throughout the world; secondly, by ensuring that spend is only directed to those providers that meet a university’s standards and thirdly, by providing an increasingly rich and transparent view of Suppliers’ credentials. Our research has also shown a surge in interest in Supplier networks in 2017 – another indicator of the importance of interconnectedness in the modern economy.

eMarketplaces not only free up valuable staff time from frustrating, non-value-adding tasks but provide an important mechanism for managing spend flows towards those areas of the economy that align with a university’s strategic objectives.

At Science Warehouse, we work with both Buyers of items (procurement departments) as well as Suppliers, who sell their items through our eMarketplace. Through the Science Warehouse network, we look to connect Buyers and Sellers, make their lives a little easier as well strengthening business relationships.

As well as working with procurement departments, we also work with finance departments as we provide eInvoicing solutions, so when it comes to payment, our technology solutions help both Buyers and Suppliers save time and improve invoice matching to purchase orders. We also offer Spend Science, our spend analytics solution, which enables finance and procurement departments to gain real insight into their spend data so they can look to negotiate better contract with Suppliers.

Our solutions deliver benefits to both Buyers and Suppliers:

  • We enable Buyers to achieve their strategic goals through greater operating efficiency and cost management
  • Whilst also giving Suppliers the opportunity to gain competitive advantage, build revenue and strengthen business relationships

Our entire business works around the theme of Connecting Cultures between Buyers and Suppliers so this is where we can add value to Higher Education organisations.

Download our Higher Education Overview Handbook.

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