Wax News Archive
Durham University Awards Wax Digital Purchasing Honours
Durham University has awarded a contract to Wax Digital for the implementation of a comprehensive source-to-pay system, at the heart of a plan to cut several million pounds from its purchasing costs over the next five years.
Wax Digital's web3 system will automate many of the purchasing processes for University employees, enabling them to electronically search and select goods and services, tender and place orders online, and conduct electronic auctions between competing suppliers.
The University spends £90 million annually to maintain the infrastructure and services demanded of its 3,000 staff and 15,000 students and the implementation of web3 eProcurement will deliver significant process efficiencies, ensure employees buy approved goods at the right prices, and dispense with many labour intensive paper-based activities.
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Wax Digital web3 will make life so much easier for all staff, giving access to a comprehensive online point of purchase for all the goods and services they need, and in so doing offer the purchasing and finance teams complete visibility and control over our spend across the organisation Durham University
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Wax Digital web3 is the final step on a journey that was started a couple of years ago to transform the procurement practices in the University.
Whilst the primary aim is to cut costs, the system will also help meet environmental commitments and improve supplier relationships through reduction in order and processing costs, improved cash flow and reduced cost of credit control.
"Following the consultation document produced by HEFCE in 2006, 'Procurement in Higher Education – A time for change', the Government set key targets for the education sector in terms of eProcurement," said Daniel Ball, director, Wax Digital.
We're delighted to be able to help one of the UK's leading Universities meet those targets and deliver significant cost reductions in an environment where public sector spending is increasingly under pressure."
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