TENDERING AND PROCUREMENT ANALYSIS
Most companies have an established procedure for awarding contracts to their suppliers. Even with well-designed systems, however, the force of corruption can have a negative impact on the tender and procurement procedures, resulting in increased costs for the company and poor goods and services delivered by suppliers. Savings can be substantial: one of our clients estimates RM375 million has been saved over four years by upgrading their tendering procedure.
The tendering and procurement processes have continuously been identified as high-risk areas in many businesses as they necessitate interactions between company personnel and external parties such as suppliers. The nature of these processes open a business up to risks of collusion between staff and suppliers, conflicts of interest, and the manipulation of the overall processes to distort outcomes.
Trident provides an analysis service specially for tendering and procurement divisions in order to help companies identify key leakage points in a system vulnerable to exploitation. Our analysis service will take advantage of our experience with managing corruption risks in tendering and procurement as well as the latest research and international best practice standards.
Trident’s analysis service will provide you with an objective and impartial review of your tender and procurement processes as well as actionable recommendations on how to improve your processes and mitigate corruption risks.