Finance, Procurement, and Supply Chain leaders in Manila are invited to join this roundtable dinner on ‘Efficient government procurement: A key to enabling digitization and the growth of the local economy’.
An expert moderator will guide the knowledge-sharing event, stimulating discussion between participants in a closed, confidential environment. Attendance is complimentary and by invitation only.
Efficient Government Procurement – Key to Digitizing & Boosting Local Economy
Government procurement, representing 12-15% of a country’s GDP, totals an approximate $10.8T global spend. A significant 90% of this expenditure is channeled to lower-value items, traditionally managed with methods causing supplier payment delays of up to 90 days. Existing challenges include manual oversight, susceptibility to fraud, and prolonged transaction processing. Adopting a digitized “purchase to pay” system can overcome these hurdles, expediting digital payments and aiding domestic suppliers. This ensures worthwhile returns, from investments in digital procurement systems.
Government Procurement Cards (GPC) emerge as a solution, especially for T&E expenses. It streamlines the procurement process & related costs, supports higher efficiency and amplifies transparency through data insights. By embracing digitization and centralization in procurement, governments can potentially pare down costs by 35%. As examples: a U.S. department anticipates $780M savings over five years, while the UK govt projects a £5 savings per PO by shifting procurement to cards. Effective procurement strategies, backed by positive IRR and empowered by GPC, can address existing challenges, reform governmental operations, and invigorate the local economy. To truly harness these benefits and drive our local economy forward, it’s imperative for organizational leaders to spearhead the evolution towards digitized procurement.
Sala Restaurant
LV Locsin Building, Podium Level, 6752 Ayala Ave, Makati, 1223 Metro Manila | Google Maps
The Ortus Club hosts knowledge-sharing discussions in the best private dining rooms in the world. These venues provide an elegant high-end atmosphere and impeccable table service.
Join leaders interested in pioneering the next wave of digital transformation in government procurement and financial management.
Job titles may include Undersecretary, CFO, Head/VP/Director of Finance/Procurement/Supply Chain, and other senior decision-makers.
6:30 PM: Arrival of guests and reception
7:00 PM: Welcome by The Ortus Club
7:05 PM: Short address by Mastercard
7:15 PM: Discussion instigated by the moderator and continued by the group over dinner
8:15 PM: Discussion brought to a close
9:00 PM: Coffee, tea, and continued networking
Hosted by Mastercard
Mastercard is a payment processing corporation that aims to create a world beyond cash. We work with businesses and governments around the world to improve the lives of the billions of people we serve through powering an inclusive digital economy. For more than 50 years, Mastercard has pioneered technology to make payments simpler, smarter and safe. Our decency quotient, drives our culture and everything we do inside and outside of our company.
The public sector team in Mastercard helps governments to drive growth, create efficiencies and improve transparency, while advancing social progress. We create smarter ways to pay and get paid, provide the underserved with vital services, and empower aid agencies & beneficiaries with digital solutions to improve lives. By blending private sector insights with social initiatives, Mastercard and its partners can create a more inclusive economy for all.
info@ortusclub.com
+1 323 615 2018