Prince George’s County updates its electronic procurement system, enhancing and streamlining procurement and bid processes for local businesses.
The Prince George’s County Office of Central Services is changing the County’s electronic procurement system known as SPEED. The County will expand the SPEED system, becoming SPEED Procure-To-Pay or SPEED P2P. The updated SPEED system will establish an efficient mechanism for doing business with Prince George’s County from the point of order right through to ready-to-pay.
According to a County press release: SPEED P2P will integrate purchasing and accounts payable, thus allowing for a wider procurement management process within a single system consisting of:
- Purchase Order Management
- Direct Catalogue Ordering from Selected Suppliers
- Creation/Submission and Tracking of Invoices from Suppliers
- Receipt/Validation of Invoices
- Invoice Payment Processing
Prince George’s SPEED System
SPEED is an SAP Ariba product that offers online strategic sourcing and contracting capabilities to enhance the procurement process. This cloud-based platform offers a digitized and simplified end-to-end procurement workflow in an integrated solution to drive consistency and efficiency. SPEED identifies qualified suppliers through the integrated Ariba platform to improve bid competitiveness.
Electronic procurement, commonly known as eProcurement, is the automation and management of the procurement process. It involves creating a shopping environment that is intuitive and enhances the overall procurement experience.
According to the County’s website, it implemented eProcurement because:
Transforming our business process to is an important part of an overall strategy for automating business services, which will reduce costs and result in more efficiency. The SPEED platform will result in faster procurement processing times and make it easier to navigate the procurement process. Access will be available to all sourcing and contracting opportunities which will reduce procurement lead times.
SPEED P2P is scheduled for roll-out in early Fall 2023. In the meantime, the County will create a SPEED P2P FAQ website specifically tailored to County suppliers. FAQs will be located both on the website and distributed via email. Additionally, Prince George’s will roll out a series of complementary training sessions on the new SPEED P2P system and how to use it.