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And How the Code Grows

Last week, we read that Pittsburgh Mayor Bill Peduto issued an Executive Order to improve the budget controls and transparency of city funds by employing strategies provided by the National Institute of Governmental Purchasing (NIGP).  It’s a great testimony to the caliber of the NIGP Consulting Program as well as other NIGP offerings.  One key strategic product offering by NIGP is the NIGP Commodity/Services Code (Code), which consistently grows and provides real value.

In 2014, the NIGP Code grew in both new subscribers and in the creation of new master items.  This trend has continued throughout 2015.  In February, NIGP members and current NIGP Code License Holders embarked upon a comprehensive review and update of the NIGP Code.  The project consisted of 52 public procurement professionals who analyzed all 9,138 active 5-digit codes.  Their efforts realized the development of over 1100 comments for potential language/description adjustments, removal of outdated codes, movement of codes into different Classes or potential code consolidations.

And, let’s not forget that the NIGP code is updated monthly for the 3- and 5-digit versions, and daily for the 7- and 11-digit versions.  Standard updates like this and comprehensive reviews like the one above are a few of the many reasons the Code continues to grow, fueling public procurement excellence.


Introducing NIGP Code News

We are excited to introduce NIGP Code News, our new quarterly email newsletter for NIGP Code users! We created NIGP Code News for YOU, our loyal Code users! This quarterly newsletter will include important information about the Code, a tip for getting the most from the Code, and a message from the President of NIGP Code & Consulting, Matt Walker.

Please let us know how we can make NIGP Code News valuable for you! Share your ideas in the comments section or email us. We are committed to meeting your needs and providing information that well help you to maximize your use of the NIGP Code.


Periscope Holdings Ranked #12 in Austin Business Journal’s Fast 50

Austin, TX, October 23, 2014 – Periscope Holdings, the leader in purpose-based procurement, announced today that it has received the Austin Business Journal’s (ABJ) Fast 50 Award, which recognizes the fastest-growing private companies in Central Texas. Periscope ranked 12th in the $10 million and above revenue category with a 56.3% annual compounded growth rate between 2011-2013.

“Periscope is honored to be recognized by the Austin Business Journal for our revenue growth,” said Brian Utley, President and CEO of Periscope Holdings. “I attribute our rapid growth over the last three years to our steadfast focus on our purpose, which is to eradicate waste and maximize the value of every dollar spent by our public sector and higher education clients. The other unequivocal key to our growth is that we hire the best of the best. Periscope’s team is committed and smart, and they embrace our purpose and values. This recognition is a direct result of the hard work and commitment of each and every member of the Periscope team.”

In order to qualify for the ABJ Fast 50, companies must show dramatic revenue growth over the past three years. Revenue numbers are verified by local accounting firm, Maxwell Locke and Ritter. The rankings were announced by the Austin Business Journal at the ABJ Fast 50 Reception and Awards Presentation on October 16, 2014, at the AT&T Conference Center.

ABOUT PERISCOPE HOLDINGS, INC.
Periscope Holdings, Inc. (http://www.periscopeholdings.com), headquartered in Austin, Texas, is the leader in purpose-based procurement. Periscope eradicates waste and maximizes the value of every dollar spent by our public sector and higher education clients with procurement transformation solutions and services.

Periscope offers an eProcurement software suite, BuySpeed™, holds the exclusive license to maintain, enhance, and market the NIGP Commodity/Services Code, and manages the NIGP Consulting Program, which provides a wide range of procurement transformation services, including procurement strategy development, organizational assessments, relevant benchmarking, process reviews, and strategic sourcing services. Our solutions streamline processes, increase efficiency, decrease expenditures, and create transparency, allowing our clients to focus on achieving their purpose.

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Announcing the New NIGP Code Nsite Community

Attention NIGP Code Users and others who are interested in learning more about the NIGP Code…an Nsite community has been created just for you! Nsite is the NIGP online community developed exclusively for NIGP members.

Here’s your opportunity to connect with other Code users, share best practices, get ideas on how to leverage the Code, or just learn more about the NIGP Code and how it can work for you.

Join the NIGP Code Nsite Community Today
!


New NIGP Codes Added for Higher Ed

The NIGP Commodity/Services Code, the standard classification taxonomy for public purchasing, continues to evolve.  Periscope manages the Code and is deeply committed to making useful additions to the Code to meet the growing needs of Code users.

The latest additions to the NIGP Code were created specifically for our Higher Education Code users. We are excited to share with you that the NIGP Commodity/Services Code has 8 new 3-digit Class Codes for specific purchase categories.

The new Codes cover the following spend categories:
•    Construction and Utilities Services
•    Communications and Technical Services
•    Contracted Services and Rentals
•    Financial Service
•    Grants
•    Professional Services
•    Miscellaneous Expenditures for Higher Education

Each of the new 3-digit Class Codes contains a number of 5-digit Class-Item Codes that are intended to assist college and university Code users with better spend analysis for these categories.

We are grateful to the Texas A&M University System for helping to identify these Code additions; their input was valuable in making the Code an even more useful tool for institutions of higher learning. We welcome and encourage user input to keep the NIGP Code an up-to-date “Living Code.”

These Codes are now available for viewing and downloading from www.nigp.com. For more information, contact NIGP Code Support at 1-800-757-6064 or support<at>nigp.com.


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