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8.5 trillion reasons to celebrate Public Procurement Month

February 28, 2019 | Bonfire Interactive

Bonfire celebrates public procurement month

Global public procurement spend is estimated at around $8.5 trillion USD annually.

While that number sinks in, consider that public procurement represents an average of 13% of GDP and makes up about one third of total government expenditures in OECD countries.

It is hard to truly fathom the impact of this spend on individuals and businesses around the world. It is equally mind-boggling to think that behind these massive numbers are procurement professionals working diligently to ensure transparency, fairness, competition, and best value for public funds.

Public procurement month, designated by NIGP, presents an opportunity to recognize the importance of this work and the impact it has on our society. 

The impact of public procurement

At Bonfire, we are proud to work hand-in-hand with public procurement teams to modernize their sourcing process, a partnership which gives us a front row seat into the crucial role that procurement teams play in delivering the services and infrastructure that make up our public lives.

Procurement remains behind the scenes for the most part (and let’s face it — for most public officials, ending up in the headlines is something to be avoided at all costs). That’s why it’s important to take this time to promote the ‘good news stories’ of procurement! 

Learn from peers and advance your profession

We’re celebrating this month by bringing you an educational webinar presented in partnership with leading practitioners in the field. 

Invest in your procurement function for better outcomes organization-wide

Special guest: Paul Brennan, founder of ProcurePath and Director of Purchasing for County of Rockland
Procurement is gaining recognition as a strategic value driver in the organization, but many procurement teams still struggle to get funding for tools and resources to improve their own process. Paul Brennan will bring his expertise from 25 years as an educator, practitioner, and champion of the public procurement professional to provide advice to procurement teams on advocating for the support they need to thrive— whether training resources, technology, or other key investments. Watch the webinar on-demand now.

Happy procurement month! Whether it’s taking in a webinar, hosting an open house, enjoying cake with colleagues, or one of these creative ideas, we hope you take the time to celebrate your impact.   

About the author

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Bonfire Interactive

Bonfire helps public procurement teams reach better sourcing outcomes through an experience that’s blazingly fast, powered by peer insights, and so easy to use—vendors love it just as much as buyers do.