As an Australian SME driving innovation in regulatory automation and digital compliance, Imminently confronts a government procurement landscape that too often prioritises cost over broader national benefits. A recent report commissioned by TechnologyOne highlights systemic issues that disproportionately disadvantage local businesses like ours, despite the transformative potential of the ICT sector.
The Cost of the Status Quo
Australia’s ICT sector generates 8.5% of GDP, employs over 830,000 highly skilled workers, and leads in research and development. Yet, procurement policies fail to account for the long-term economic, social, and environmental impacts of public spending. This bias toward multinational vendors has dire consequences:
- Economic dependence: Overreliance on foreign suppliers risks national resilience, leaving Australia vulnerable to global disruptions.
- Stifled innovation: SMEs struggle to compete due to opaque processes, risk-averse practices, and lack of recognition for local contributions like tax payments and job creation.
- Missed opportunities: Billions in public spending bypass the chance to foster local growth, retain intellectual property, and build sustainable industries.
Industry leaders are urging immediate reforms to Australia’s ICT procurement practices to better prioritise local businesses. When a multinational is chosen over a domestic company, the impact goes beyond losing a contract – Australia forfeits opportunities to create jobs, drive innovation, and shape the future of its technology sector. These leaders advocate for smarter, more strategic procurement policies that reflect Australia’s long-term economic and social priorities, drawing on international best practices to promote fairness, foster innovation, and ensure sustainable growth.
A Vision for Change
Reforming ICT procurement is not just about fairness – it’s about securing a prosperous, resilient future for Australia. By implementing reforms such as weighted scorecards, transparent impact assessments, and a commitment to local sourcing, we can:
- Create high-paying, skilled jobs that sustain Australian communities.
- Invest in sovereign capabilities to protect critical infrastructure.
- Empower Australian SMEs to innovate, compete globally, and lead on the world stage.
International examples from Canada and the UK demonstrate how mission-led procurement policies can level the playing field and drive local innovation, providing actionable models for fostering domestic industries and aligning public spending with national priorities.
What We’re Asking For
Imminently calls on policymakers, industry leaders, and citizens to champion reforms that prioritise Australia’s economic future:
- For Policymakers: Implement a procurement framework that values long-term economic impacts, including tax contributions, local job creation, and R&D investment.
- For Industry Leaders: Unite in advocating for a fairer playing field that fosters innovation and growth.
- For Citizens: Demand that government spending supports Australian businesses, creating shared prosperity.
Together, We Can Build a Resilient Future
The time for change is now. If we act decisively, Australia can lead with a thriving ICT sector that fuels our economy, secures national resilience, and creates lasting benefits for all. Let’s ensure every taxpayer dollar strengthens our communities, empowers our innovators, and safeguards our nation’s future.
Join us in this mission – because a stronger ICT sector means a stronger Australia.
