BOOMpower actively manage a pre-qualified panel of clean energy and energy efficiency suppliers, who have all met strict quality standards. This includes an ongoing analysis of the company's financial position, references from former clients, experience and capability, and ratings from our clients. Our process for pre-qualifying suppliers has been created in partnership with our probity advisors and global procurement experts, ArcBlue.
We are paid standardised referral fees by suppliers when they are successfully pre-qualified. These fees fund ongoing development of the platform, on-call consulting, and technical support. You can read more about our pricing model here.
With support from probity and procurement specialists ArcBlue, we have established Procurement and Contract Management Guidelines to ensure compliance with better practice procurement and contract management.
In undertaking supplier pre-qualification/screening and procurement, either directly or on behalf of clients, we adhere to the following principles.
Ethics are the moral principles or values that guide practitioners in all aspects of procurement and management of suppliers. They form the basis on which most of the nine principles are based.
Ethical behaviour refers to acting honourably and with integrity. Ethics are about:
not taking advantage of the system or others,
complying with legislation and documented processes, and
avoiding conflicts of interest.
BOOMPower practitioners are required to act in an ethical manner when undertaking all procurement, pre-qualification or screening processes.
2. Conflict of interest
A conflict of interest exists where someone’s loyalties are divided between the organisation and their own personal interests or activities. There is the potential for that person not to act impartially in their decision making because of this clash.
Procurement, pre-qualification and screening decisions need to be free from the influence of any actual, potential, or even perceived benefit to those involved in these decisions.
Any party with a conflict of interest at any stage of any procurement process must immediately declare that interest. If an appropriate mitigation strategy cannot be determined, that person is excluded from further participation in the procurement process.
3. Value for Money
Value for money is about finding the optimal balance between cost, quality, time, quantity and place. Value for money does not always mean accepting the cheapest price, or the highest quality, or the fastest delivery – it is about achieving the right solution to meet specified requirements.
Determining value for money involves a comparative analysis of the benefits of the procurement versus the relevant costs over the whole procurement cycle.
This principle refers to the importance of ensuring that a competitive marketplace is promoted by using the correct process for the particular procurement activity and ensuring that prospective suppliers are given an equal opportunity to participate in our processes.
Additionally, confidentiality of information provided by suppliers must be maintained at all times – particularly commercially sensitive material such as prices, discounts, rebates, profit, manufacturing and product information – as these factors help drive healthy competition.
5. Fairness to Suppliers
Fairness means providing all prospective suppliers with an equal opportunity – providing them with the same information, the same time to respond, the same answers to questions, and an equivalent opportunity to ask questions. No potential suppliers should be provided with any more or any less information than the others.
Accountability refers to taking responsibility for our own actions and decisions. All decisions and actions must be accountable, defensible and withstand scrutiny.
BOOMPower practitioners must be able to account for all procurement decisions made over the whole of life of all goods, services and works purchased with supporting, auditable, documentation.
7. Risk Management
BOOMPower practitioners have a responsibility for ensuring that risk is managed through the procurement process, as well as any subsequent relationships with suppliers.
A risk profile should be done for each procurement process. Higher risk procurement activities require more involved processes and monitoring. Low risk procurement processes should be designed to minimise effort and maximise efficiency.
The BOOMPower team undertake and document a risk analysis process for all key procurement processes.
Transparency refers to taking steps to enable scrutiny of our actions and decision making processes – this is achieved by maintaining clear documentation. It reduces the likelihood of unethical behaviour and instill confidence in all stakeholders concerning the integrity of decisions.
Specifically, key documentation to be retained for a major procurement process would include:
Pre-qualification, screening, tender or quote documentation;
Notes regarding any communications between tenderers and BOOMPower during the process;
Enquiry and response documentation; and
Notification and award documentation.
The records should tell the story of the procurement activity from beginning to end – enabling audit and review functions to obtain a clear and accurate picture of the process followed and the decisions made.
9. Sustainable Procurement
Sustainable procurement involves meeting a need for goods, services or works in a way that achieves value for money and generates benefits not only to the organisation, but also to society and the economy, while minimising damage to the environment.
At a high level, BOOMPower endeavour to meet the needs of current and future generations considering environmental, social and economic development.
10. Social Procurement
Social procurement is a strategic approach to meeting social and economic objectives through procurement. Social procurement involves using procurement processes and purchasing power to generate positive social and economic outcomes in addition to the delivery of efficient goods, services and works.
BOOMPower are committed to social and sustainable procurement and embed its principles into its procurement activities.
Procurement practitioners are in a privileged position in relation to information obtained during a procurement process. This information is provided by potential suppliers on a confidential basis and must be treated properly.
BOOMPower practitioners will not:
Share pricing information with other suppliers,
Refer to the details of other suppliers bids,
Share information about key company details or margins,
Incorporate ideas from suppliers bids (if marked confidential), or
Share intellectual property (unless expressly agreed).