04/09/2026
From transactional to relational: rethinking market engagement
Earlier this week, IPS Executive Director Cameron Wood had the privilege of contributing to the 2026 Commonwealth Procurement and Contract Management Conference in Canberra, joining a fireside discussion on How to Use Market Engagement to Build Industry Capability.
The conference commenced with a powerful Welcome to Country from respected Ngunnawal Elder and Traditional Custodian Aunty Serena Williams. Her Welcome grounded the day in Country, culture, and connection, and was a powerful reminder of the value First Nations ways of Knowing, Being and Doing bring to how we work together through listening, reciprocity, responsibility, and relationships.
These principles connected strongly with one of Cameron’s key messages: We need to shift market engagement from transactional to relational.
Sharing the discussion with fellow panelist Phillip Dowsett, Cameron brought a First Nations business perspective to the conversation. A relational approach means building relationships before we need something from the market, understanding capability, providing visibility of future opportunities, and creating the conditions for businesses to prepare, invest, innovate, and form genuine partnerships.
As Cameron reflected: “If our first conversation with the market happens when a tender is released, we may already be too late.”
For First Nations businesses, early and genuine relationships can create greater visibility and opportunity while helping government better understand the capability and innovation already within the sector.
Procurement readiness should not be confused with business capability. Capability building isn't about lowering the bar; it's about removing unnecessary barriers to getting to the bar. Targets and spend matter, but we should also ask: What did that opportunity enable the business to become? Procurement spend is an input. Sustainable, competitive, and growing First Nations businesses are the outcome.
At IPS, we believe relational market engagement can strengthen relationships, capability, and the market we create for the future.
Our thanks to Andrew Danks, Sabrena King and Carol Treneski for the opportunity and support, and to everyone who contributed to such a valuable discussion.
Good procurement doesn't just buy capability. Strong relationships help build it and create lasting value.
