Endorsements are a win-win for export agencies.
Exporters face new challenges, both in terms of increased barriers to trade following the pandemic, but they also struggle to meet the increasing demands of purchasing teams. It is no longer enough to have a brilliant product, companies must excel in a multitude of ways to win overseas contracts.
This creates a challenge for export promotion agencies, can they use their limited resources to match the correct company to the correct opportunities? Can they get real intelligence about buyers and real information about the companies they wish to promote?
Public contracting accounts for $13tn globally and not only provides significant opportunities for companies to win overseas contracts but also provides a rich data source on upcoming contracts in overseas markets. This data is more than a series of flags about purchasing opportunities though, it can also be used to find the right suppliers.
A government’s own contracting data is useful for finding data on the best local suppliers. How do we know this? The UK government has promoted Spend Network’s abilities on the basis of our existing contracts with them. Our government can say “Spend Network provides our services, we can endorse their work for your government”.
Promoting exports is complex and demanding, it would be short sighted not to use the power of endorsement to help your companies win more business overseas.
Spend Network holds government procurement data for more than 150 countries globally. We take the hard work out of collecting, organising and analysing procurement data at scale. Our analysis can predict poor performance, bad tendering and new savings opportunities. We can monitor market efficiency and look for new suppliers to increase competition. Get in touch to find out how our data can help you.