To effectively manage public projects, government bodies need access to reliable and official information on Singapore companies as well as from across the globe. This is especially so in vendor assessment before awarding contract and in monitoring changes in the vendor’s business throughout the performance of the tender, to mitigate the risk of project failure due to the vendor’s business changes.
When entities bid for critical government projects, you need to understand the bidders’ relationships across various department in your own organisation. This helps you to optimise procurement process and enhance your negotiating power that can result in significant savings.
Uncovering risks and dependencies on vendors is a vital factor especially in sensitive areas such as defence, energy, health etc. While there are existing policies and processes in place, it is critical to be vigilant as company changes may have happened during long tender evaluation and post contract awarding. Do the following before and after awarding tender:
Besides our capabilities in all the above areas for Singapore companies, you can access global information to better manage procurement risk locally and globally.In Regulating Programs for Businesses and Compliance to Policies
Government grants, subsidies and business assistance program users need to be bonafide and adhere to the rules of engagement. Information, customise data and corporate linkage capabilities from BizInsights can help you to maintain a vigilant oversight by verifying information about beneficiaries of the government agencies’ services. Relationships amongst applicants and company information changes can be monitored to alert various agencies on potential fraud. These insights can facilitate agencies to identify and take action on errant applicants.