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The public sector is set to benefit from a new framework agreement that will provide cloud-based analysis tools to better check and monitor the financials of their suppliers.

The public sector is set to benefit from a new framework agreement that will provide cloud-based analysis tools to better check and monitor the financials of their suppliers. 

Two suppliers have been signed to the framework, Dunn & Bradstreet and Equifax, which is said to be worth an estimated £1.5 million and last for at least two years. 

Services will be available for use by central government departments, NHS bodies, local authorities and organisations that include the BBC, Royal Mail and the Met Office. 

An award notice reads: “Public sector bodies require web based financial analysis services that allow them to assess the financial viability of suppliers.

“Financial monitoring services [will] allow public sector bodies to obtain financial analysis information regarding their suppliers on an on-going basis,” it continues. 

“It will provide for consistent monitoring of the financial status of an entity or group of entities and allowing for regular updates based on predetermined criteria agreed with the customer.”

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There will also be a report sharing service, which will allow public sector bodies to share pre-purchased financial reports through the use of a central online repository. 

In other news, the government has also said in a procurement policy notice that all departments and agencies must cap their future IT projects at £100 million. This forms part of its wider ICT Strategy, where the government is attempting to move away from its traditional approach to procurement where large vendors are given expensive, lengthy IT contracts, and deliver projects that use multiple SMEs over a shorter period.