The university will be able to search electronically for goods and services, invite tender and conduct electronic auctions between competing suppliers.
Durham spends £90m on infrastructure and services demanded for 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.
"Wax Digital's web3 is the final step on a journey we started a couple of years ago to transform procurement practices in the University," said Laura Watson, deputy director of Procurement, Durham University. "It 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 purchasing and finance teams complete visibility and control over our spend across the organisation.”
Daniel Ball, director of Wax Digital, said the government set targets for e-procurement in a Higher Education Funding Council for England paper called "Procurement in Higher Education - A time for change", which was published in 2006.
"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," he added.