Bonfire Interactive Ltd. (“Bonfire”), a subsidiary of GTY Technology Holdings Inc. (“GTY”) and a leader in strategic sourcing and eProcurement software, today announced the release of its annual State of Public Sourcing Report. The benchmarking study sheds light on new and emerging trends in public sector procurement in 2022.

Based on an analysis of anonymized data from the Bonfire eProcurement platform, consisting of tens of thousands of projects from more than 400 North American public sector organizations, the report found a 28% jump in public sector solicitation volumes, ahead of where it was before the start of the pandemic in 2020, reflecting an influx of federal funding for new infrastructure projects.

Additional Highlights from the 2022 Report:

● Agencies prioritized vendor diversity more than ever before. Among agencies, 33% of transportation agencies, 20% of higher education institutions, and 11% of K-12 institutions are tracking vendor diversity status and creating more opportunities for small and disadvantaged business enterprises to participate in government projects.

● eProcurement logins and users are on the rise. More procurement teams are adopting digital solutions to centralize all sourcing processes and information.

● eProcurement saved agencies an average of $269K (or 9.5%) per RFP. Agencies that use eProcurement are driving more value for the communities they serve than ever before.

This year’s report, titled “Procurement Saves the Day Again,” highlights the key “superpowers” procurement teams are honing to confront new challenges and leverage opportunities to better serve their constituents. danistock.com With project volumes increasing significantly over 2021, the data reveals how public procurement teams are setting new priorities, strategies, and goals in the context of current events, including COVID-19 recovery efforts, a recent influx of federal infrastructure funding, and challenges related to the mass labor market disruption known as the Great Resignation.

“The insights from our new report show project volumes continuing on the upward trend we observed in 2021 and, in fact, surpassing pre-pandemic numbers,” said Bonfire CEO Omar Salaymeh. “We’ve seen firsthand how procurement teams are driving these impressive gains through the power of procurement technology, better collaboration, project cost savings, and a heightened focus on social procurement practices. It’s clear that procurement will continue to prove its value as a strategic partner well into the future, regardless of what comes next.”

Download the full 2022 State of Public Sourcing Report for free on the Bonfire website.