Is there any intention to address the UK government's Procurement Act?
Summary: The UK government has created the Procurement Act which comes into for on 28 Oct 2024, with public bodies having 6 months after this date to become compliant with the Law. Is Oracle planning on introducing functionality into Procurement to address these legal requirements?
Content (please ensure you mask any confidential information):
The bill includes a number of requirements including
- Better transparency for potential suppliers - an increase in the number of mandatory notices that procuring companies must publish to suppliers. This has increased from 4 notices currently to 12 notices in future
- The Act will create a digital platform on which suppliers must register and will become, in effect the repository of supplier information for public bodies in the UK.
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