Introduction to Nationwide's Sourcing Process

At this stage of the process we will scope the business requirements, its objectives and the parameters against which the goods/services need to be supplied. This helps to ensure that we are clear on what we need to be delivered and by when.

As a responsible organisation, it is important for Nationwide to manage its reputational and financial risk across the business, including appropriate oversight of Third Parties.

You may also be aware that the Bribery Act 2010 came into force on 1 July 2011 and as a regulated organisation Nationwide is dedicated to complying with this legislation. Nationwide is also committed to operating with honesty and integrity in all of its business activities and to promoting an Anti-Bribery and Corruption culture amongst its employees, agents and Third Parties.

We must ensure that an appropriate Confidentiality Agreement is in place before any discussions including Nationwide’s specific data can take place with Third Parties. We expect our Third Parties to adhere to Nationwide’s generic confidentiality agreement which will be sent for review through the iSource tool.

All of Nationwide’s tendering is done electronically via the iSource tool and will consist of business requirements and specific questions.

Any clarification questions relating to the tender must be asked using the discussions functionality in the iSource tool.

Nationwide’s evaluation model consists of online scoring of the tender responses, site visits and presentations. The format of evaluation will differ between engagements but will contain as a minimum online scoring.

At this stage Nationwide will also start to negotiate commercial/legal terms and Service Level Agreements if applicable. Please note that Nationwide is under no obligation to award any contract to a Third Party with whom negotiations have begun.

At this stage Nationwide will formally appoint the successful Third Party and inform those that have been unsuccessful. It is at Nationwide’s sole discretion to provide formal feedback to unsuccessful Third Parties. Formal feedback, where provided, is generally conducted over the telephone.

We will put a formal contract in place with the successful Third Party and ensure they are set up on our purchasing system to receive electronic purchase orders and payment. Please note, dependent on the nature and value of the contract, various internal approvals need to be received and therefore this could potentially add short delays to project timescales.

Once a relationship is established, we will use our Third Party management framework to ensure performance is monitored as well as compliance to policies and standards (see the policies page for more information).