When should schools review their spending and procurement?

The start of a new academic year is always a time of fresh opportunities and renewed focus for schools. While budgets for the year ahead are typically set in advance, that doesn’t mean bursars and school budget holders need to wait until next year to make the most of their resources.

Even with budgets in place, spending patterns and supplier performance can change. Schools may find that certain contracts are no longer delivering the value they once did, or that alternative suppliers could offer better terms. Waiting until the end of the academic year can mean missed opportunities to optimise budgets and reinvest savings into areas that directly impact students’ experiences.

In fact, there are key moments throughout the year when reviewing spending and procurement can deliver significant benefits – and partnering with experts like us can make the process much simpler and more effective.

The ideal times to review

End of Term One: This is an ideal checkpoint. By assessing your procurement and supplier performance early in the year, you can identify opportunities to negotiate better deals, adjust contracts, or switch suppliers if necessary.

Mid-year reviews: Midway through the academic year, patterns in consumption and expenditure become clearer. A mid-year review can highlight unexpected overspend or areas where efficiency could be improved.

Before renewal periods: Many school contracts run on annual cycles. Reviewing them well before renewal deadlines ensures you have time to renegotiate or explore alternatives.

How can we help?

Schools often aren’t sure if they are receiving the best possible value from their suppliers. They don’t have sight of prices similar to those schools receive, and so it’s impossible to know where they sit within the wider marketplace. Our detailed procurement reports highlight opportunities for savings, streamline supplier management, and help budget holders make data-driven decisions. They give bursars, who are looking to strengthen their financial position and ensure every pound is well spent, the knowledge, data and insights to negotiate with suppliers.

Budgets are only the beginning. By proactively reviewing procurement and spending throughout the academic year, schools can ensure resources are optimised, suppliers are delivering value, and funds are maximised.

To find out more about Quenelles reports and how we can support your school, get in touch here.

The Quenelles Team