Source: InsideHousing

The clock is ticking for the public and private sectors to prepare for a new era once the Procurement Act 2023 comes into effect, says Shamayne Harris, head of procurement at consultancy Pagabo.

The Procurement Act 2023 consolidates four sets of existing regulations into one, maximising a huge opportunity to embrace flexibility and innovation.

“Another key change in the act is the streamlining of procedures under the current regime, reducing them from seven to just two: the open procedure and the new competitive flexible procedure”

Procurement performance is a core focus of the act; it formalises and strengthens some of the existing requirements. This includes the issuing of at least three mandated performance measures prior to entering into contracts with an estimated value above £5m, the publishing of payment compliance information, and the social value tender commitments which will form a contractual commitment and key performance indicator.

“Greater access to information may increase scrutiny and the volume of challenges, but this can be looked at both ways. It could potentially increase opportunity or damage chances, depending on what performance data shows”