Government Tightens Prompt Payment Requirements for Suppliers

Published on: 14 November 2024

Government Tightens Prompt Payment Requirements for Suppliers
In a significant move announced at the Autumn Statement 2024, the UK Government is taking steps to address a longstanding issue impacting small and medium-sized enterprises (SMEs): late payments. Starting from 1 October 2025, the average invoice payment days threshold for Government suppliers will be reduced from 55 days to 45 days. This policy adjustment aims to unlock £20 billion tied up in unpaid invoices and support improved cash flow for SMEs across the UK.
Role of Digitalisation in Driving Sustainable Supply Chains

Published on: 11 November 2024

The Role of Digitalisation in Driving Sustainable Supply Chains
As global supply chains become increasingly complex, the demand for transparency and sustainability is greater than ever, particularly in the least developed countries (LDCs). Digitalisation is emerging as a powerful tool to address these demands, enabling businesses to enhance efficiency, reduce waste, and contribute to economic, social, and environmental sustainability.
Unlocking Public Procurement Opportunities for SMEs: How Transparency Reporting Can Help

Published on: 4 November 2024

Unlocking Public Procurement Opportunities for SMEs: How Transparency Reporting Can Help
As the UK government works to increase public sector procurement from small and medium-sized enterprises (SMEs), recent figures show that progress has been slow. In 2023, only 20% of total direct public sector procurement spending went to SMEs, despite government pledges to prioritise smaller businesses. Barriers such as complex processes, high bid costs, and procurement frameworks have made it challenging for SMEs to compete effectively with larger suppliers.
TISCreport Awarded G-Cloud 14 Framework Contract for Cloud Software

Published on: 31 October 2024

TISCreport Awarded G-Cloud 14 Framework Contract for Cloud Software
Semantrica Ltd, trading as TISCreport, is proud to announce that it has been awarded a prestigious RM1557.14 G-Cloud 14 framework contract for Cloud Software by the UK Government.
The Case for Transparency Reports in the Financial Sector: Strengthening ESG Strategies

Published on: 28 October 2024

The Case for Transparency Reports in the Financial Sector
In an era where financial institutions are increasingly driven by Environmental, Social, and Governance (ESG) considerations, focusing solely on financial reports leaves a critical gap in understanding the full scope of risk and opportunity. According to a recent CDP report, 85% of financial institutions now rely on ESG ratings to shape their strategies and manage assets, but without robust non-financial data, they’re still missing a key piece of the puzzle. For financial institutions transparency reporting is that piece.

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