One of the major residential property development companies, Barratt Developments, selected Wax Digital’s web3 eSourcing solution in order to revolutionise its tendering and supplier risk management.
web3 eSourcing will allow Barratt Developments to unify the creation of tender packs for suppliers and subcontractors as well as enable them to receive all responses in a standardised format, which will be electronically analysed. This process will be supported by web3 Connect due to the complex nature of integration and together will provide an intuitive, cloud based tendering platform which is seamlessly linked with a significant number of legacy systems that are needed to automate the data flow.
Barratt’s will be able utilise web3 to improve their supplier risk management and support their health and safety requirements. All of the suppliers and contracts that want to work with Barratt Developments will need to submit their Occupational Health & Safety certificates and Public Liability insurance as part of the on boarding process.
web3 automates this process and will only allow Barratt to work with companies which provided all of the required certificates. The system will also remind the suppliers/contractors when their documents are due to expire, allowing them to update their credentials in time and continue to trade with Barratt.
“Electronic trading is not widely used in our sector and we believe we will be one of the first organisations in housebuilding to realise the many benefits an eSourcing solution can offer us. We work with over 4,000 suppliers and contractors and web3 eSourcing will significantly enhance our supplier risk management processes ensuring only those with the appropriate certification can work with us” .
Matthew Paul, Group Commercial Manager at Barratt Developments
One of the critical parts of the implementation process is the integration between web3 and Barratt’s drawing portal – Conject, which will be used to share the latest versions of the architectural drawings with external parties allowing them to be fully aware of the work involved when bidding for the project.
web3 will also enable authorised users to search and qualify suppliers on a geographical location, which means only contractors within a set radius from where the project will be taking place will be invited to tender, making the process more time and cost effective.
“We are delighted to be working with Barratt Developments as it takes its first steps to the implementation of eSourcing. Organisations in a variety of sectors are already reaping the benefits of web3 eSourcing and Barratt’s vision as to how it will revolutionise its own tendering processes means that the construction sector can now too realise its potential”.
Paul Ellis, Managing Director at Wax Digital.