DOCUMENT

POL - Savings & Revenue Generation Tracking 2009

  • YEAR CREATED: 2009
  • ENTITY TYPE: County
  • TYPE OF DOCUMENT: POL - Policies/Procedures
The document describes the development and implementation of a Cost Savings and Revenue Generation Tracking Database by Rockland County. The database is accessible through the County network and allows buyers to record cost savings and revenue generation information as they award contracts or issue purchase orders. The database also provides detailed reports to management that identify cost savings and revenue generation results by category and buyer. The County researched cost savings tracking in public procurement and defined eleven cost containment activities and two revenue generation activities to be measured. The Finance function's agreement on the definitions of the categories to be tracked was critical to the success of the program. The database contributes to the profession by providing a tool to capture the value the procurement function brings to an organization through purchasing activities. It increases procurement's value to the organization by quantifying the value in monetary terms and has opened the eyes of elected officials to the positive effect procurement can have on reducing expenses. The project demonstrated collaboration with stakeholders, particularly the Finance function, and has redefined the way the organization operates by placing a greater emphasis on bottom line financial results.
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