The government of the Isle of Man has saved £4.3 million since 2011, it has announced.
Procurement in the crown dependency was centralised in 2011, and the function spends around £200 million a year on third party goods and services.
The Manx government said the saving was £1 million higher than the initial target set four years ago.
Treasury minister Eddie Teare said: “We have a responsibility to achieve the best value for the taxpayer with this spending, while continuing to support the local economy. I would like to thank the procurement unit for exceeding expectations in its work to protect the public purse.”
There are 184 competitive tenders scheduled for this financial year, compared with just 24 carried out in 2010/11.
Teare added: “This is not just an exercise in saving money. It's also about being open and transparent in the conduct of public finances and giving all businesses a fair chance to compete for government contracts.”