Source- to- pay solutions in public sector can help small businesses grow

Dec 2, 2022

Source- to- pay solutions in public sector can help small businesses grow

Increasing supplier diversity is one of the key priorities for the governments across North America, including focus on generating economic growth opportunities for Minority and Women owned business enterprises (M/WBE). Public procurement is one such avenue through which governments can directly influence the growth of these business owners. Expanding the involvement of diverse businesses and M/WBEs not only supports jobs creation, innovation, and diversity, but is also a step towards building a more equitable future.

However, small businesses don’t always have the capacity to source and bid for various contracts, particularly when it involves a lot of paperwork and traditionally complex public procurement bidding processes. That said, mdf commerce, a leader in public procurement in North America, is enabling diverse businesses to bid and win these government contracts at a level playing field created by its source-to-pay technology.

In an interview with Amsterdam News, Mark Eigenbauer, president of e-procurement at mdf commerce, explained that mdf commerce’s source-to-pay solutions can help M/WBEs in New York gain access to government contracts. He said, “We help state and local governments streamline their procurement processes in a fair, transparent way so that all suppliers that are registered can be notified of those opportunities. We really help reduce the participation barriers.” The article further outlines that mdf commerce has over 10,000 active suppliers in New York alone and more than 20% of them are minority and women-owned businesses. So, it puts them on an equal playing field where they get notified of the same opportunities that all of the larger suppliers get.

Solutions provided by Periscope, powered by mdf commerce are designed to help state and local governments  manage spend and federal funds effectively, boost competition, improve supplier diversity, increase efficiency and achieve transparency and compliance. To know more, visit https://www.periscopeholdings.com/