The Procurement Software Podcast (James Meads)
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| 01 May 2024 | AI Use Cases and Opportunities in S2P – Ward Karson from Raindrop | 00:32:30 | |||||
On this episode of The Procurement Software Podcast, host James welcomes back Ward Karson, COO of Raindrop. They discuss how AI applications in source-to-pay technology can be confusing, and how organisations can best navigate the vast array of solutions available.
Ward, a veteran procurement professional, shares valuable insights to help listeners stay ahead in the ever-evolving procurement landscape.
Tune in for expert advice on embracing change and ensuring that new, cutting edge developments in procurement and not confused with old technology masquerading as the new.
AI in Source-to-Pay: Use cases and opportunitiesIn the latest episode of The Procurement Software Podcast, Ward Karson, COO of Raindrop, returned to discuss the transformative impact of AI on the source-to-pay space Ward discusses how generative AI is a game-changer versus traditional AI and other types of machine learning and process automation. The conversation highlighted the shift from traditional technologies like RPA (Robotic Process Automation) and OCR (Optical Character Recognition) to advanced AI, including generative AI, exemplified by tools like ChatGPT. Ward clarified that while RPA is process-focused, AI leverages data and generative AI can autonomously create content such as contracts. Ward stressed the necessity of mastering basic procurement operations before advancing to more complex technologies. He showcased how modern Source-to-Pay (S2P) suites like Raindrop enhance efficiency, cut operational costs, and minimise administrative tasks, potentially rendering Business Process Outsourcing (BPO) in transactional services obsolete to some extent. The conversation also explores the business case of choosing BPO vs. technology, and how to present the numbers in order to get the political capital required to be given the budgets. Timestamps: [00:00:48] Greenfield procurement technology investments [00:04:32] Technological advancements in spend analytics [00:05:30] Importance of Spend Analytics [00:08:41] Procurement team efficiency strategies [00:13:12] Niche category specific tools [00:15:10] Focus on Category-Specific Tools and Solutions [00:16:01] Eliminate, automate, delegate for efficiency And that wraps up another episode of The Procurement Software Podcast! Thanks to Ward for sharing his insights with us today, and thank you again for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Ward, Raindrop or Procurement Software, check out the useful links below.Stay in touch!Grab your ticket to ProcureCon EU in Barcelona with 10% off!
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| 10 Apr 2024 | Invoice automation: back to basics – Kevin Kazenmeyer from TradeCentric | 00:32:30 | |||||
In this episode of The Procurement Software Podcast, host James Meads explores invoice automation's efficiency in reducing invoicing time and tackling employee retention issues.
Guest Kevin Kazenmeyer from Tradecentric shares insights on channel development, and transitioning from procurement to a supplier role.
Tune in and discover how technology such as invoice automation enhances procurement efficiency.
Accounts payable automation isn't sexy but it's keyThis episode delved into the transformative impact of invoice automation. With a rich background in procurement and e-commerce solutions, Kevin highlighted how automating the invoicing process can address bottlenecks in accounts payable and improve employee retention. It does this by minimizing mundane tasks. Despite a 65% satisfaction rate among Coupa users with their procurement systems, a survey revealed that a third still experience invoicing challenges, underscoring the need for focused automation efforts. Kevin emphasized the critical role of collaboration between procurement and finance departments in the successful adoption of technology. He shared success stories, including Mars Veterinary Health's operational improvements through automation, illustrating the broader benefits of investing in supplier connections. Concluding the episode, it was evident that invoice automation offers a straightforward yet significant way to enhance procurement processes, providing a quick ROI and helping to retain skilled employees by shifting their focus from repetitive tasks to more strategic activities. Timestamps: [00:01:08] Introducing Kevin Kazenmeyer of TradeCentric [00:05:23] Invoice automation challenges [00:08:06] Siloed Procurement and Finance [00:14:14] Procurement vs. Finance Perspective [00:18:07] Fixing challenges in accounts payable [00:19:52] Employee turnover and engagement incentives [00:24:23] Procurement as profit centre [00:27:03] Investing in spend management [00:31:44] Invoice automation And that wraps up another episode of The Procurement Software Podcast! Thanks to Kevin for sharing his insights with us today, and thank you again for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Kevin, TradeCentric or Procurement Software, check out the useful links below.Stay in touch!Grab your ticket to ProcureCon EU in Barcelona with 10% off!
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| 09 Mar 2022 | Strategic Supplier Innovation – Matt Zaleski from Procurence Meercat | 00:36:25 | |||||
With the backdrop of inflation, supply chain shortages and now as I currently write this, a war being fought on European soil, supplier collaboration and supplier innovation are two topics that I think we can be sure will increase in priority. My guest to deep dive on this topic is Maciej (Matt) Zaleski of Procurence Meercat, a software platform for industrial manufacturing companies who have recently developed a supplier innovation module for their solution. Using software to successfully drive a transparent supplier innovation programAgainst the rather bleak backdrop we're currently up against, the focus right now is to ensure that manufacturing businesses are able to become a customer of choice to their supply base. With a tight market and the need to innovate to stay ahead, avoid material shortages and optimise lead times, this is particularly good timing to be discussing this topic. Procurence grew out of Matt being frustrated at what was already out there. He found himself as a consultant having to leave a client with Excel sheets rather than a nice software dashboard. This is ultimately what drove him to start the business. Starting off with a procurement, quality and vendor master data solution, Procurence has since grown to become a full stack solution on the quality and New Product Introduction (NPI) side in addition to the pure procurement modules. This focus has enabled them to thrive in manufacturing industries, especially the automotive sector. New modules have very much been based on customer feedback, and supplier innovation is no different, growing out of a request from AGCO Corporation, one of Procurence's key customers, to streamline and digitise the process. Define "Supplier Innovation": What does it mean?There are three key pillars that Matt typically sees from Procurence Meercat clients:
Matt explains that it's all about looking at what hides below the waterline. Continuous Improvement often sits below the top of the iceberg but is nonetheless a very important component of supplier relationships. Different stakeholders will drive the process depending on what the end result should be. Ideas generation typically becomes a lot more bottom up process and as such requires a greater amount of participation from a wider number of stakeholders e.g. engineering, marketing, supply base, manufacturing. Early involvement with suppliers is key. Otherwise, the potential is that a company misses out on ongoing feedback during a design process or project ideation if they are only contacting suppliers once the design and features are a done deal. R&D is a more strategic function, but often don't have the manufacturing experience or the technical knowledge of the supplier's production process. A hands off approach will result in the supplier doing as they're told. Whereas in a more collaborative environment, they will volunteer suggestions and improvements during a more consultative process. How can software assist this process?Channel between internal stakeholders and suppliers. There are often multiple stakeholders who need to have access to a two-way conversation between the company and its supply base. "Crowdsourcing" of innovative solutions to specific problems around product design, production process, quality improvements, kanban etc. Software platforms facilitate this through making the conversations visible to multiple stakeholders and removing the silos we see when this task is performed through emails and spreadsheets. Supplier to internal stakeholder: procurement doesn't know everything that's going on in the company. Procurement often expects a clear specification to be able to go to market with an RFP or RFQ. Stakeholders may look to suppliers to assist them with this process and... | |||||||
| 15 Nov 2023 | Generative AI driving better spend analytics – Sam Clive from Rosslyn | 00:30:11 | |||||
In this episode of The Procuretech Podcast, host James Meads discusses the use of Generative AI in spend and data analytics applications with Sam Clive, Head of Product at Rosslyn.
Sam recently delivered a keynote on this topic at ProcureCon EU, and James attended this presentation and thought it would make a great podcast. They dive into the potential of Generative AI and its impact on procurement.
Tune in to learn more about how this technology is shaping the future of procurement.
Generative AI and spend classification: is it accurate?The episode delves into the challenges faced by traditional AI and machine learning approaches in spend analytics, mainly due to overcoming data quality issues in customer data. Rosslyn undertook the challenge to try to understand whether Generative AI could solve this problem. In collaboration with industry giants and universities, they sought an answer and a process to run some experiments. Classification is a subjective task. It has been historically difficult to standardise. To address these challenges, the episode explores the use of Generative AI as a possible solution. This technology could automate data classification, providing insights and making spend analytics more accessible, even for smaller businesses. In their recent trial, Rosslyn found that Generative AI has the potential to revolutionise data classification, improving efficiency and accuracy while democratising its use. Timestamps: [00:01:37] Introducing Sam Clive of Rosslyn. [00:03:54] Challenges in spend analytics. [00:07:19] GPT and its capabilities. [00:11:23] AI's decision-making transparency. [00:16:08] Line item data challenges. [00:19:13] Generative AI and language understanding. [00:23:12] Bringing data together en masse. [00:25:28] Generative AI-driven spend analytics. [00:29:15] Our Digital Procurement 101 Course. And that wraps up another episode of The Procuretech Podcast! Thanks to Sam for sharing his insights with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Sam Clive, Rosslyn or Procurement Software, check out the useful links below.Stay in touch!
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| 20 Oct 2021 | Procurement Summit Live Sessions: Part 2 – AI and Game Theory Startups | 00:33:20 | |||||
We’re back with part 2 of a 3 part series of live episodes recorded at Procurement Summit in Berlin on 29 and 30 September 2021.
Each podcast features a different theme, focusing on some of the newer, less well-known startups who pitched and exhibited during the summit to bring awareness to some of the exciting new players out there who have a bright future.
Hot Digital Procurement Startups which Utilise AI and Game Theory to Deliver their SolutionThis episode is all about startups who heavily feature AI or game theory as part of their experience and solution.PactumMy first guest is Fabio Herle from Pactum. Pactum leverages AI and game theory to automate negotiations. Quite a bold claim to automate something that many procurement professionals have spent their whole careers trying to refine, improve and perfect! Fabio explains how the German-speaking area of Europe offers both challenges and advantages in equal measure. On the one hand, Procurement is a fairly mature function and there are some world class companies, procurement functions and well-managed processes. On the other hand, it’s a more conservative business culture where resistance to change can be quite common. While Pactum was founded in Estonia, they are actually headquartered in the US. Not because of investment but due to ease of customer acquisition in relation to Europe’s largest markets. So, what can it do, and what are its limitations? Fabio goes on to explain that Pactum is not able to replace a human in a complex negotiation which requires preparation, emotional intelligence and the need to maintain a strategic relationship with a critical vendor. Instead, Pactum focuses on automating negotiations for tactical purchases where it may not be the best use of a procurement professional’s time, or where the spend would not have been previously managed by anyone in the procurement team because of the value of the transaction. NDAs and simple payment terms “horsetrading” are two examples which Fabio cites as being prime opportunities where Pactum can add value. The goal is that over time, it will be able to handle more complex negotiations as the AI matures. The example of being able to give counter offers and counter proposals, in a proper trading style negotiation, is an area where Fabio explains is part of Pactum’s plans as the tool matures. Another advantage of using a machine is that it never forgets any of the details! This is definitely one to watch and a rapidly scaling company. Fabio’s’ LinkedIn profile Pactum websiteMySupplyNext up is Andreas Zimmermann, CEO of MySupply. This is an e-sourcing tool, looking at some of the more tactical areas of sourcing. Whereas most e-sourcing tools tend to focus on strategic sourcing for highly complex tenders, MySupply focuses on the more straightforward sourcing requirements. The specific USP of MySupply is the engine behind the tender which guides it towards the right strategy e.g. should it be an auction, 3-bids-and-a-buy, simple RFP etc. Whereas it is primarily aimed at smaller and medium-sized businesses to provide a way to affordably bring more spend under control and negotiate with suppliers that otherwise would have been unmanaged, it also functions for larger businesses too for any sourcing requirements that are not complex. As with Pactum, this focuses on a problem that is coming more and more to the forefront. Namely, that Procurement often does not have the resources to get involved in non-strategic spend, but would like to get the savings or cost avoidance from being able to deal with this in a more automated and hands-off way. We talk about existing tools for e-sourcing and auctions, especially the more established players, not being... | |||||||
| 06 May 2020 | Using Tech in Group Purchasing Orgs – Anthony Clervi from Una | 00:28:41 | |||||
Anthony is the CEO of Una, a US-based group purchasing organisation from Kansas City. He joins me on this episode of the podcast to explain how digital procurement initiatives don't necessarily need to be complex.
It's all about leveraging technology + expertise to hit the sweet spot of saving client organisations both time and money when it comes to managing tail spend with vendors where the buyer would otherwise not have a great deal of buying power.
If you're a "C" customer to some of your low spend, non-strategic suppliers and you wished you could get better prices or service from them, this episode should answer some of your questions and curiosities about how group buying could be one solution.
He also loves the term "Sourcing Hero", as you'll find out when you listen to the podcast!
The Power of Group Buying: Pooling your Non-Strategic Spend to save Costs and Time1:47 How Anthony became involved with the Una setup and who they serve as their client base. 4:06 We dig into how group purchasing is not a new concept per se, and how Una's model has put a unique spin on how to best serve the downtrodden "Sourcing Hero". 8:34 Who Una focuses on with their client acquisition strategy, and what they see as the key strategy areas where a GPO model can add the most value to a small, under-resourced procurement team. 10:00 Some of the challenges encountered when selling the advantages of a GPO to potential clients, and how educating the prospective client is often a major factor in convincing them that there really can be a win-win outcome to combining spend to leverage better pricing from otherwise non-core categories. 12:49 Why a consultative and educational approach can allow clients to concentrate on more strategic categories of spend, while relinquishing control of the long tail of non-core spend can deliver ongoing savings and a well-managed process virtually on auto pilot. 15:07 The 3 ways how a buyer & supplier matching service such as a GPO can potentially make money, and how Una approaches this with their business model. 18:35 The approach Una takes to offering up-sell services in cases where clients may be seeking a more hands-on approach to strategic sourcing support and consulting services. 20:15 How Una plans to expand and grow, utilising technological developments which can be leveraged to better manage client and supplier data. 22:06 That old chestnut...DATA QUALITY...that just keeps coming up!! How to connect with Anthony: Anthony's LinkedIn profile Anthony's personal brand website Una's websiteStay in touch!
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| 05 Aug 2020 | Collaboration with Startups – Dr. Gisela Linge from Strategy Meets Reality | 00:29:23 | |||||
Buying smart, and measuring total value rather than just price, is a popular concept right now. And for good reason, given the supply chain fragilities that the Covid-19 pandemic has laid bare.
Nonetheless, the automotive industry is one that's renowned for being particularly cutthroat in its often combative relationships with suppliers.
My guest on today's show, Dr. Gisela Linge, is a strategy consultant who has over 10 years of experience in the automotive industry. So, it's all the more relevant to talk to someone with her experience about how sourcing smart and collaborating with innovative startups can move the needle.
We discuss how some of the process and regulatory roadblocks can be removed to ensure procurement and R&D are able to work with the most innovative companies in the space without having their hands tied by impossible T&Cs, bureaucracy and book-length contracts.
Sourcing Smart and Successfully Collaborating with Startups - an Interview with Dr. Gisela Linge from Strategy Meets Reality2:09 I ask Gisela for a short intro of how she got into the space of strategy, specifically in procurement 5:18 Buying smart rather than buying cheap - how does it work in an industry that is as cutthroat as the automotive sector? 8:21 Do large organisations such as OEMs and Tier 1s actually have the self-awareness to see the opportunities of how they can benefit from working with startups, or do they require external help from consultancies to understand the lay of the land? 13:07 Will we as time goes on see a more open interface between ERP systems and individual apps offering specific solutions that can integrate with them? 15:27 We look at examples of where companies do have a strategy of working with smaller and more innovative startups, but can often become unstuck with the usual big company compliance and legal bureaucracy. This can prevent startups from getting a foothold into these organisations as vendors, so we look at how this could play out and what needs to change, including an example of how Gisela overcame this in a previous position she held. 19:20 We touch on one of my favourite topics - I promise I didn’t lead the conversation this way(!) - of pragmatism over rigid process and how there must be more flexibility within legal and internal audit departments to make these collaborations a success. 21:58 I ask Gisela her experiences of being able to convince legal colleagues to be more pragmatic, in the quest of being able to work with startups who don’t have the bandwidth to sign up to standard large corporation T&Cs and contractual requirements. 23:46 Exploring the opportunity of using risk management software to assess risk level of working with a specific vendor, and how this can be used to procurement’s advantage in preparing the business case to gain buy-in from Legal or any other sceptical internal business partners. 24:47 I ask Gisela for a tip for buyers who are struggling to get their stakeholders to agree to working with smaller startups to drive innovation. How to connect with Gisela: Gisela's LinkedIn profile Strategy Meets Reality websiteStay in touch!
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| 27 Oct 2022 | Procuretech Driving Procurement Excellence – Graham Crawshaw from CASME | 00:26:23 | |||||
Welcome back to The Procuretech Podcast!
We're continuing our mini series where we ask industry experts and influencers about everything happening in the digital procurement world.
Procuretech Driving Procurement Excellence - Graham Crawshaw from CASMEToday’s guest is Graham Crawshaw, Director of Procurement Content for CASME - a sponsor-free membership organisation for procurement professionals. Having already been a guest on an episode of Graham's own podcast, it was high time to invite him onto the Procuretech Podcast. 02:08 We open up with a look back over Graham’s career. From indirect procurement at EMI, to running procurement roundtables, and eventually finding his role at CASME. 05:07 How does Graham think the impact of procurement technology has changed, comparing now to five or even ten years ago? From writing a thesis on computer aided procurement in the early nineties and throughout his career, Graham’s had a unique vantage point. He shares the story from his point of view. 06:51 How AI and machine learning are allowing us to push more frontiers in data analysis. We also touch on the frustratingly slow uptake for procurement tech, and how surprisingly few businesses embrace the full potential of good analytics. 12:39 Leaner teams on tighter budgets mean that there’s often an education gap in the mid-market. We talk about how to encourage smaller businesses to welcome digital transformation. 14:00 Discussing the challenges that procurement teams face in smaller organisations, and how they can get their voice heard. We also discuss the importance of UI and UX in appealing to Gen Z, and bringing fresh talent into our profession. 15:00 The importance of interpreting data in spend analytics, and how pie charts alone do not represent actionable understanding. We explain the value of conversation and facilitation when it comes to educating people about technology, and how CASME’s sponsor-free approach makes it a unique source of knowledge. 17:27 What does Graham think is driving the agenda when it comes to changes in procurement? 19:14 We touch on the fantastic work of Prof. Dr. Florian Kleemann. Florian spoke with us on a previous Procuretech Podcast episode, and had some really interesting things to say on change management. 20:39 Graham shares his... | |||||||
| 03 Jun 2020 | Game Changing AI – Benoit Larrieu from Silex | 00:30:20 | |||||
Technological capabilities are changing fast. While it can sometimes sound like a cliché, there are tasks which can be aided by robots now that can massively expand our knowledge and remove what previously would have been many hours of administrative work.
In this show, we dig into what artificial intelligence (AI) can do to aid sourcing and buying teams, and how machine learning and cognitive buying can expand our knowledge of the supply base, as well as removing many hours of work from the source-to-PO process.
Game Changing AI – Benoit Larrieu from Silex3:18 What actually is AI and what is the difference between AI and machine learning? 6:20 Benoit walks through a couple of practical examples of how a tool such as Silex can help procurement departments work more effectively by analysing the market's capabilities as well as all internal data on the incumbent supply base. 10:17 How "clustering" can enable sourcing teams to find potential suppliers on the market for specific items or components, in cases where a buyer may not have the necessary knowledge of the marketplace. 14:22 Benoit explains how Silex gathers market intelligence on so many different suppliers out there, enabling them to do the heavy lifting on behalf of the buyer. 15:53 We discuss how a tool such as this is not only used to derive greater savings. The real advantage is often seen as the ability to have greater market intelligence and a better synposis of the supply base in all countries. 18:34 How an AI-driven tool together with the human ability to think and evaluate effectively can be a killer combination when fuelling sourcing decisions.The consideration of total landed costs, coupled with the robot-powered intelligence of who can supply what in which country / region. 21:01 Using AI to serve both larger corporate clients as well as smaller businesses, and how it could potentially benefit both depending on the project and objectives. 22:48 How Silex can be used as a stand-alone tool with individual modules in the cloud, or can be integrated into customers' ERP systems. 25:51 What's next for Silex and how they plan to scale and grow their offering. How to connect with Benoit: Benoit's LinkedIn profile Silex websiteStay in touch!
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| 24 Jun 2020 | Procurement’s Skills Needed for the Digital Age – Martin Smith from Talent Drive | 00:33:08 | |||||
Although it may not seem that way as we emerge from Covid-19, the war for talent is just about to get real. The thing is, it's the war for the right talent. If you're in a fairly generic, operational procurement role then I HIGHLY recommend you listen to this episode and take ACTION before you find yourself in a role that's becoming obsolete, thanks to the unstoppable march of technology and automation.
In this episode I'm joined by experienced recruiter Martin Smith of Talent Drive, a UK based recruitment agency specialising in Procurement and Supply Chain roles.
We discuss the impact of Covid-19, immediate and longer term trends as the importance of "bums on seats" in the office from 9 to 5 every day diminishes and as technology plays an ever more important role in how procurement teams achieve their results.
Recruiting Procurement Talent for The Digital Age - Martin Smith from Talent Drive4:23 Martin goes into what the market is likely to look like post-lockdown and how employers will be forced to move with the times if the marketplace for top talent stays competitive. 7:26 We explore the impact this could have on salaries and benefits, and how employees could value softer benefits going forward as access to technology and telecommuting becomes the norm. 9:11 Will salary become less important as time goes on, as employees tend to value flexibility over remuneration? 11:51 I ask Martin his thoughts about fixed-term contracts and the increase of interim managers, as companies become more savvy about having flexible resourcing to cover peaks and troughs in demand and workload on a project-specific basis. 17:26 Martin and I go (educated) crystal ball gazing into how procurement organisations of the future may look. If you’re worried about whether your skills are relevant, or if your role could become redundant or obsolete in future, this is something you REALLY need to listen to and define an action plan. A robot may be able to do your job in 10 years time. This is your wake-up call. 22:08 We discuss how operational and tactical procurement roles will likely not exist in a few years time in more progressive companies who are focused on added value and driving the business forward, rather than technocratic, process obsessed procurement teams. 23:13 I have a bit of a rant about how procurement professionals are still predominantly tied up in non-value added tasks and administrative work! Then I ask Martin about his thoughts on the biggest change in skills that employers will seek from procurement professionals as we go full speed ahead into a digital age, where soft skills and the ability to influence stakeholders will play an ever-increasing role. 27:08 We round off the interview looking at how certain roles currently not in procurement may at some point be part of the organisation, and also discuss where procurement’s reporting line is likely to be as we move more into Industry 4.0. 29:00 Finally, I ask Martin for his 3 tips of how procurement professionals can improve their relevance (and their employability) in a changing market. How to connect with Martin: Talent Drive website Talent Talks podcast Martin's LinkedIn profileStay in touch!
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| 16 Mar 2022 | ProcurementSoftware.site – The FREE resource for digital procurement | 00:26:39 | |||||
Today is a very proud and special day for me as I launch our new venture: Procurement Software.
The ProcurementSoftware.site website sets out to democratise access to information and resources on digital procurement as a free platform, focusing on helping procurement leaders, CFOs and boutique consultancies serving mid-market businesses.
What makes ProcurementSoftware.site different and unique?I've listed 10 reasons why I believe that Procurement Software provides a solution that nobody else out there is offering....here goes:1. Completely FREE to access for the buy sideWe don't charge any subscription to buyers. Neither to the individual, nor to the company. Our directory is completely free to access all areas.2. Focus on software that's within reach of mid-market businessesThe existing content platforms and research houses who are specifically focused on the digital procurement ecosystem are very much targeting enterprise level procurement pros as their target audience. While anyone in a large corporate will still get value from our solution, we have deliberately included some of the less well-known software that focuses on mid-market and SMEs as their target customer base. All of the legacy suites and new best-of-breed solutions who target enterprise customers are also included in the directory, but our blogs and this podcast is more focused on the mid market.3. More transparencyThere are a number of "best of" lists out there. They have varying transparency when it comes to how these lists are put together. Some are more clear than others, but still, there is a lot that remains murky. We have circumvented this potential issue by making the directory completely comprehensive and including anyone in there who we believe has a relevant solution and a saleable, useable product with existing customers.4. We're all busy: you don't have time for complex researchProcurement pros - I know you're busy. There are enough challenges in the world right now keeping you up at night. That's why we feel that a lot of the detailed research and white papers are unnecessarily complex. You're smart people. If you're given the basics to get on with, you can do your due diligence on the potential software suppliers you're considering. Do you need to pay several thousand dollars for a white paper you'll probably never read in full? That money could be better spent hiring someone to help you source and implement the software from the shortlist of solutions we'll provide you for free.5. User FriendlyOur content and our software directory is easy to use, easy to find and intuitive. I talk about UX being an under-appreciated feature for procurement technology to help with adoption and uptake. The exact same thing applies here. We will definitely also listen closely to user feedback and improve our UX as we go!6. No Corporate SubscriptionsSo, if your organisation doesn't have a corporate subscription to one of the big research houses, then how do you access market knowledge? As an individual, you can't take out a subscription. And even if you could, it would be prohibitively expensive. That's why we're never going to offer this as a business model. Even if we sell content in the form of digital downloads on the site in future, my goal is to ensure we offer this at an affordable price that any procurement pro could purchase, even for those of you who are unable to claim it back as a company expense.7. No Jargon!I hate complexity for the sake of it. White papers and solutions maps can be unnecessarily confusing. Lots of competitor websites are full of acronyms and procurement-speak. That's why we want to give you a simple solution which just requires a few mouse clicks. We've also spelt out in full all of the acronyms that are in our software finder, so you're not scratching your head if you're not... | |||||||
| 29 May 2024 | Are “digital skills” valued by CPOs? – Andrew Daley from EdburyDaley | 00:40:40 | |||||
This week on The Procurement Software Podcast, host James Meads chats to guest Andrew Daley, a partner at EdburyDaley, a specialist recruitment firm in the UK.
Andrew sheds light on some of the differences between recruiting individuals for procurement tech companies, and how it differs from hiring for traditional procurement roles.
Tune in to gain insights into how technology is shaping the procurement profession and discover the tools to stay ahead in the game.
Are digital skills in procurement really valued by CPOs?In this episode, Andrew Daley highlights the importance of digital skills for procurement professionals. He explains these skills are essential for leveraging technologies like AI, RPA, and cloud-based solutions. Digital literacy and technological proficiency in sourcing, risk management, and contract management are crucial. Andrew stresses continuous learning and adaptation to stay competitive. He also discusses creating compelling job descriptions to attract quality candidates by highlighting unique aspects, career growth opportunities, and company values. Additionally, Andrew underscores educating and motivating individuals about digital transformation's benefits. Overcoming past negative experiences with outdated systems is crucial. Continuous education and showcasing successful case studies encourage adopting new technologies, leading to efficiency, cost savings, and improved decision-making in procurement. Overall, the episode emphasises digital skills' critical role and the need for continuous learning in procurement.Timestamps:[00:05:05] Digital skills in procurement. [00:07:23] Digital procurement skills definition. [00:10:59] The potential of digital transformation. [00:14:14] Skills for digital transformation. [00:17:18] Digital procurement up-skilling opportunities. [00:21:48] Impact of AI on jobs. [00:25:51] Recruitment challenges and strategies. [00:28:59] Crafting compelling job adverts. [00:31:09] Hindering perceptions of digital transformation. [00:33:55] Catalyst for improvement. [00:38:34] Can procurement professionals transition? [00:39:43] Is there really a war on talent. And that wraps up another episode of The Procurement Software Podcast! Thanks to Andrew for sharing his insights with us today, and thank you again for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Andrew, EdburyDaley, or Procurement Software, check out the useful links below.Stay in touch!Grab your ticket to ProcureCon EU in Barcelona with 10% off!
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| 26 Jul 2023 | Supplier risk management within an S2P suite – Ward Karson from Raindrop | 00:41:34 | |||||
In this episode of the Procuretech Podcast, host James Meads is joined once more by Ward Karson, Chief Operating Officer of Raindrop – an enterprise spend management suite based in California.
Today they discuss the pros and cons of tackling supplier risk management from within an S2P Suite.
Supplier Risk Management Within an S2P Suite – Ward Karson from RaindropTimestamps 2:34 Background on Raindrop.
6:55 How long does it take to deploy a product?
9:46 The problem with technical debt.
15:56 Integration with other procurement systems.
19:01 User interface user experience and integration.
25:03 What are the structural and people problems?
27:09 Ease of use solutions increase stakeholder adoption.
33:05 Why do you think large consultancies still partner with legacy technology?
And that wraps up another episode of the Procuretech Podcast! Thanks to Ward for sharing his insights with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Ward, Raindrop, or Procurement Software, check out the useful links below. Stay in touch!
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| 09 Oct 2024 | Is Procurement still seen as a back office function? | 00:15:19 | |||||
In this episode of The Procurement Software Podcast, host James Meads tackles why procurement is often seen as a back-office function and offers insights on transforming it into a strategic powerhouse. Outdated perceptions, poor data quality, inadequate technology, and a lack of executive mandate keep procurement from reaching its full potential as a value-driving function. Tune in for actionable steps on elevating procurement to a strategic role! Is procurement still a back office function?James explores how aligning procurement with broader business objectives is essential for moving it beyond tactical tasks. When procurement operates in isolation, it risks being perceived as purely administrative, rather than as a critical contributor to the organisation’s success. To shift this perception, integration with overarching goals is crucial, enabling procurement to directly support strategic initiatives and deliver measurable impact. A key takeaway is the importance of accurate, reliable data in empowering procurement teams to make informed, fact-based decisions. With high-quality data, procurement can hold meaningful, value-driven discussions with stakeholders, advocating for its role as a strategic partner within the organisation. Strong data not only facilitates better decision-making but also helps procurement showcase its contributions more effectively. James also highlights the transformative role of modern technology. Many procurement teams still rely on archaic ERP systems that handle only tactical procurement tasks, leaving limited scope for strategic engagement. By adopting fit-for-purpose tools, teams can automate repetitive, low-value tasks, creating valuable time for high-impact initiatives like supplier relationship management and category strategy. Finally, James underscores the importance of a clear mandate from leadership. With executive support, procurement can proactively align its objectives with the organisation’s, evolving from an operational function to a strategic partner that drives long-term value and growth. Timestamps:[00:00:38] - Moving Procurement from Back Office to Strategic [00:01:31] - Why Procurement is Labelled as a Back Office Function [00:03:29] - Factors Contributing to Procurement's Back Office Label [00:05:17] - Importance of Well-Run Procurement Organisations [00:05:38] - Role of Procurement Technology [00:07:04] - Trends in Procurement Technology Adoption [00:08:38] - Achieving ROI on Procurement Tech [00:09:48] - Importance of Good Spend Data and Contract Visibility [00:10:54] - Tools and Resources for Procurement Tech [00:11:05] - The People Aspect in Procurement Transformation [00:12:39] - Centralisation in Procurement Teams [00:13:53] - Conclusion and Final Thoughts And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.
Stay in touch!
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| 24 Apr 2024 | Why are reviews and “best of” lists not very helpful? | 00:12:07 | |||||
This week on The Procurement Software Podcast, host James Meads delves into the topic of why reviews and best-of lists may not be as helpful as they seem when choosing procurement software.
The episode also touches on the lack of transparency in some top procurement tech listings, cautioning listeners to be wary of sponsored content.
Tune in to gain insights on navigating the complex landscape of procurement software selection.
Why Procurement Software reviews are of limited useThis episode underscores the importance of a critical approach when considering reviews and best-of lists for procurement software. It stresses that the criteria used in reviews might not always align with an organisation's specific needs, given the diversity in procurement maturity and operational requirements. The episode further highlights the significance of the reviewer's role within their company, suggesting that feedback from daily users like procurement category managers is more valuable than that from analyst firms. Additionally, the size and maturity of one's organisation are crucial factors to consider, as a solution fit for a large, mature enterprise may not suit a mid-market business or a growing tech start-up. The episode concludes by advocating for a nuanced evaluation of procurement software, taking into account the criteria used in reviews, the user's role, and the organisation's size and maturity level, to make informed decisions that best serve an organisation's unique procurement needs. Timestamps: [00:00:37] The Problem with Reviews and Best-of Lists [00:01:10] Personal Experiences and Organisational Differences [00:03:20] Relevance of Reviews from Large Enterprises [00:04:24] The Bias Towards Large Enterprise in Best-of Lists [00:05:08] Considerations When Looking at Procurement Software Reviews [00:07:37] Procurement Maturity and Organisational Stages [00:08:10] Impact of Change Management and Data Quality [00:09:04] Summary and Critical Mindset Towards Reviews [00:11:22] Conclusion and Takeaways And that's a wrap for another episode of the show. Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.Stay in touch!Grab your ticket to ProcureCon EU in Barcelona with 10% off!
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| 24 Oct 2022 | Evolution from All-In-One Suites to Hybrid – Melissa Drew from IBM | 00:22:27 | |||||
Welcome back to The Procuretech Podcast!
We're continuing our mini series where we ask influencers and industry experts for their thoughts on everything that's happening in the digital procurement world.
Evolution from All-In-One Suites to Hybrid – Melissa Drew from IBMBack in episode 20, Melissa Drew from IBM gave us a masterclass in AI and machine learning. So we were really pleased when she agreed to come back on and take part in another episode. For anyone that didn't listen to the original episode, Melissa has 28 years of industry and consulting procurement experience. She’s currently a keynote speaker, board member for a nonprofit, and soon to be a published author. 2:11 We open up our discussion with a quick catch-up on Melissa’s background: A history with procurement that goes all the way back to 1996. 3:06 What are Melissa’s memories of some key milestones in tech over the years? How has tech impacted her career? From cloud technology to AI, we take a tour of all the biggest tech developments from Melissa’s perspective. 5:03 Are best of breeds coming to replace full-suite solutions? How much did COVID impact the procurement tech landscape? Melissa explains some of the most important recent innovations in procurement tech. 8:41 Will agile startups ever displace the Big Five, or should we expect to see more hybrid approaches in the future? 12:09 Melissa shares a very relevant story about working with chemical experts from her time in procurement. From there, we talk about talent, strategic sourcing, direct category management, and the importance of leadership. “If you have a leader that's doing nothing or saying nothing, they're really saying a lot." 15:00 We talk about the underlying root cause of personnel problems: Talent attrition. The current management trend of rotating talent across categories means that in-depth experience is becoming rarer. Can AI compensate for dwindling human expertise? 18:31 We talk about Melissa’s upcoming book: An unfiltered, honest look at how to develop a solid foundation for transformation. This includes some advice that might upset the big boy consultancies… 20:47 We wrap up this episode by thanking Melissa for her insights, and asking how to best reach out to her. If you want to get in touch, you’ll find all the links you need below.Thanks for listening, and we’ll catch you next time.Stay in... | |||||||
| 20 Apr 2022 | Procuretech: Past, Present and Future – Dr. Elouise Epstein from Kearney | 00:56:54 | |||||
My guest this week on The Procuretech Pub requires no introduction to anyone who is familiar with the digital procurement space. Dr. Elouise Epstein is Partner at Kearney in San Francisco and author of the book Trade Wars, Pandemics and Chaos: How Digital Procurement Enables Business Success in a Disordered World.
We have an informal and very open discussion about procurement technology's past, present and what direction the future trends are moving in this space.
Procuretech's evolution, where it's at and where we're headed: The Procuretech Pub with Dr. Elouise EpsteinElouise begins by giving a whistle stop tour of her career and some of the things she's seen in the digital procurement space along the way. From its beginnings, where best of breed led the way, through the rise of the suites and now to a more emerging hybrid model. She explains how around 2013, Kearney began receiving calls from enterprises who had implemented what I now often refer to as "legacy suites", saying that users didn't want to use them and they weren't seeing their return on investment. It wasn't really until 2020, where Covid definitely seems to have given the market a push, that organisations started to adopt more of a "platform-based" approach with an increasing emphasis on a best-of-breed tech ecosystem.Elouise's "spider diagrams" and the current "platform" trend"The suites failed to deliver and there is legacy sunk cost investment" and as a result of that, often these suites are used as a platform from which companies build out their tech stack. Elouise is a big critic of the big suite approach and is an advocate of the platform approach, where this is built upon through best-of-breed technology. We just don't have 100% the ideal, perfect platform that we need just yet. The software used as a platform has ended up being in that role kind of by default, and there isn't a system built to act as a platform in its core function just yet. Building their own platform can also be an option for very large enterprises who have the IT capabilities in-house to do this. This is an approach for the brave / well resourced IT departments, but advantage of this strategy is that each "module" can easily be exchanged. Using a legacy suite as the platform doesn't allow this to happen as easily for P2P, or S2C to some extent.Will the legacy suites survive this pivot?I ask Elouise what the future holds for these suite providers with this market backdrop. While the market leaders are secure, especially with SAP Ariba and Coupa having implemented App Stores to allow easy bolt-ons and integrations for best-of-breed solutions, some of the others are "under duress. She sees the suite market as being "propped up" to some extent. Who will come in to challenge the market leaders? Will someone from outside procuretech come in to challenge them, such as Salesforce or AWS? And, where will the others go if they survive this? It could be that they pivot more towards the mid market, but that would obviously mean a significant realignment of their pricing model and features offered in order to compete and flourish in this market segment.How useful or reliable are the "best-of" lists when evaluating the market?Elouise is openly critical of analysts and consultants in general and sees the hype as being self-serving. She starts off by saying she's not a fan of 2x2 evaluations because they create artificial markets rather that have to fit into that specific evaluation framework. Much of the innovation doesn't neatly fit into a box, and innovation is constantly changing as the market evolves. How the data is being used and how the evaluations are put together is important to be able to truly | |||||||
| 18 Oct 2023 | P2P software to solve a tight labour market – Ryan Belcher from Spendwise | 00:25:03 | |||||
In this episode of The Procuretech Podcast, host James Meads welcomes Ryan Belcher, founder and CEO of Spendwise. They discuss the importance of sustainable and profitable growth for businesses of any size.
Tune in to learn more about how technology can give businesses a leg up in today's competitive landscape.
Solving the procurement talent shortage through automationThe episode looks at why smaller organisations often are better off buying an off-the-shelf Source-to-Pay solution, rather than pursuing in-house custom product development. With the need for maintenance, training, and resource constraints, it’s often a false economy trying to build your own product. Smaller organisations often lack IT expertise and procurement capabilities, which can make in-house development impractical unless they are larger and have the necessary resources. We also look at how automation and simplification of tactical and operational processes, thanks to technology, can offer an alternative to the difficulties faced when it comes to recruitment and retention of operational procurement team members. The discussion with Ryan also focuses on achieving profitability through bootstrapping and maintaining a robust customer pipeline. Despite strong competition and an array of solutions in this segment, Ryan still sees manual processes and Excel as prominent in procurement. Educating customers about the benefits of automation is key, especially among his typical potential customer base. The episode also explores the benefits of shortening processes: increased productivity, improved employee satisfaction, and enhanced reputation, all of which impact project completion and business success, even though quantification can be challenging. We round off by looking at the threats to the traditional software-as-a-service model from Generative AI and low code / no code platforms. Timestamps: [00:02:20] Introducing Ryan Belcher, CEO of Spendwise. [00:04:35] How Spendwise started [00:06:43] Greenfield space and competition. [00:10:01] Addressing recruitment challenges in SMEs. [00:12:20] ROI and customer objections. [00:16:37] Increasing dominance of low-code/no-code platforms. [00:21:23] AI in procurement tech. [00:24:10] The importance of profitable growth. And that wraps up another episode of The Procuretech Podcast! Thanks to Ryan for sharing his insights with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Ryan Belcher, Spendwise or Procurement Software, check out the useful links below.Stay in touch!
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| 18 Sep 2024 | Can Intake & Process Orchestration replace Source-to-Pay suites? | 00:18:24 | |||||
In this episode of The Procurement Software Podcast, host James Meads delves into the game-changing benefits of intake and process orchestration solutions for procurement teams. James highlights how these solutions improve supplier management, compliance, and overall efficiency while freeing procurement teams to focus on strategic decisions. Tune in for valuable insights to modernise and future-proof your procurement processes. Can Intake and Process Orchestration eat S2P suites?In this episode, we explore the growing impact of intake and process orchestration solutions on modern procurement. As traditional source-to-pay (S2P) systems face limitations in flexibility and user experience, organisations are turning to these innovative tools to create more efficient and adaptable procurement processes. We’ll discuss how these solutions allow for custom workflow design without the need for extensive coding, making them perfect for businesses with diverse or evolving procurement needs. With seamless integration into existing systems and applications—such as supplier quality and ESG tools—intake and process orchestration ensures smoother communication and improved collaboration across departments. The episode also highlights the automation potential of these solutions, reducing manual tasks and freeing up procurement teams to focus on more strategic work. We’ll explain how automation capabilities extend beyond simple processes, enhancing decision-making and driving overall procurement effectiveness. Join us to learn how intake and process orchestration solutions are setting new standards for procurement technology, offering adaptability, user-centric design, and greater transparency across the entire procurement journey. Timestamps: [00:01:41] Intake in procurement processes. [00:05:58] Process orchestration in procurement. [00:10:23] Intake and process orchestration solutions. [00:16:12] Future of procurement technology. [00:16:44] Market share of sourcing solutions. And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below. Stay in touch!
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| 24 Jul 2024 | How will Tech Impact L&D? – Jonathan O’Brien from Positive Purchasing | 00:28:11 | |||||
This week on The Procurement Software Podcast, host James Meads sits down with Jonathan O'Brien, Founder and CEO of Positive Purchasing.
The conversation explores the transformative influence of technology on procurement training and learning.
Jonathan, renowned for his podcast, The Procurement Show, as well as being a serial author of procurement textbooks, brings a polished, radio-inspired approach to the conversation.
Join us for an insightful discussion on how technology is transforming procurement training.
What's the impact of tech on L&D in Procurement?In this episode, Jonathan discusses the transition from traditional classroom training to a blend of online and classroom-based learning, a shift accelerated by the pandemic. He highlights the significance of managing individual learning journeys using various methods, including e-learning, instructor-led sessions, and on-the-job practice. The conversation also delves into how AI can personalise training, create tailored learning plans, and conduct precise skill assessments. Jonathan emphasises that embracing technology in training is essential for enhancing accessibility and effectiveness in procurement education. Overall, this episode underscores the gradual yet impactful shift towards a technology-enabled, blended approach in procurement training, aiming to make learning more accessible and effective.Timestamps:[00:03:09] Technology in training and development. [00:05:48] The future of e-learning. [00:09:44] Continuous learning opportunities. [00:13:21] Professional development and initiative. [00:15:31] Tech in Emerging Markets. [00:19:31] Building a comprehensive learning platform. [00:21:42] The role of AI. [00:25:03] Evolution of tech in procurement. And that wraps up another episode of The Procurement Software Podcast! Thanks to Jonathan for sharing his insights with us today, and thank you again for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Jonathan, Positive Purchasing, or Procurement Software, check out the useful links below.Stay in touch!Grab your ticket to ProcureCon EU in Barcelona with 10% off!
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| 04 Oct 2023 | Is “plug-and-play” procuretech a fallacy? – Karthik Rama from Procurement Doctors | 00:35:29 | |||||
In this episode of The Procuretech Podcast, host James Meads welcomes Karthik Rama, also known as The Procurement Doctor, to discuss the current state of procurement and the barriers preventing investment in innovative startups and procurement tech companies. They explore the history and symptoms of the issue, and then offer potential solutions.
Join us for an exciting and insightful conversation in the digital procurement space.
Plug-and-play procurement technology: is it a fallacy?In this episode, James discusses digital procurement with Karthik Rama, The Procurement Doctor, who leverages his nearly two decades of procurement experience to assess the current state of procurement. They explore barriers to investing in innovative startups and procurement tech companies, emphasising the need for procurement to embrace technology. Karthik's status as a second-time guest underscores his expertise, with insights from working with both legacy suites and startups. A compelling SharePoint utilisation example illustrates how cost-effective solutions enhance processes and profitability. This episode offers valuable insights into digital procurement's challenges and opportunities, highlighting the importance of tech-savvy procurement professionals collaborating with startups for innovation. Timestamps: [00:01:45] Introducing Karthik Rama, aka The Procurement Doctor [00:05:51] Legacy suites and newer solutions. [00:08:29] UI and integration concerns. [00:12:46] Organisation size and procurement technology. [00:15:42] Risk aversion in procurement. [00:20:07] Demand for better UI/UX. [00:23:58] Marketplace or app store function. [00:29:41] Sustainability and ESG integration. [00:31:07] Low-code, no-code revolution. [00:34:32] Website refresh and relaunch. And that wraps up another episode of The Procuretech Podcast! Thanks to Karthik for sharing his insights with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Karthik Rama, Procurement doctors or Procurement Software, check out the useful links below.Stay in touch!
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| 23 Oct 2024 | 10 things that Digital Procurement solutions CAN'T fix | 00:18:00 | |||||
In this episode of The Procurement Software Podcast, host James Meads dives into the essential, often overlooked aspects of digital procurement transformation that go beyond the software itself. He discusses 10 critical factors that organisations must address, such as people dynamics, internal politics, and deep-rooted organisational issues that technology alone can't resolve. Tune in for actionable insights on transforming procurement strategically 10 things Digital Procurement solutions CAN'T fixThis week James explains how organisations often rush into software adoption based on analyst recommendations, convincing sales pitches or industry trends, without fully understanding their specific needs. Without a clear purpose, such tech initiatives can lead to wasted time, resources, and missed opportunities. James explains that establishing a well-defined objective is essential for ensuring a meaningful transformation. A key takeaway is the importance of assessing internal challenges, such as process inefficiencies, skill gaps, or outdated systems. By identifying specific pain points, organisations can tailor their strategy to address actual needs rather than following trends blindly. Engaging stakeholders from across departments—such as the CFO and IT, as well as the wider procurement team beyond senior leadership—further strengthens alignment with broader organisational goals, creating a solid foundation for securing resources and support. James also stresses the importance of developing a compelling business case that ties chosen software to identified organisational challenges. This clarity helps in securing buy-in from key decision-makers and guides more informed choices. Finally, digital procurement transformation is an ongoing journey. Regularly revisiting and refining strategies helps ensure that technology remains aligned with the organisation’s evolving objectives, enabling long-term, impactful change. Timestamps:[00:00:38] - Focus on People, Politics, and Organization [00:01:09] - 10 Things Digital Procurement Transformation Can't Fix [00:01:20] - No Vision of the Why [00:02:29] - Procurement Team's Capabilities [00:03:39] - No Investment in Learning and Development [00:04:47] - Lack of Mandate for Procurement [00:06:02] - "We've Always Done It This Way" Culture [00:08:05] - Misaligned Procurement KPIs [00:09:33] - Poorly Communicated Procurement Processes [00:10:50] - CFOs Who Only Recognize PPV Savings [00:12:25] - Rigid Inflexible Procurement Governance [00:14:50] - General Toxic Work Environment [00:16:26] - Conclusion and Call for Listener Stories And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.
Stay in touch!
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| 25 Oct 2023 | Can tech help to source Consulting? – Laurent Thomas from ConsultingQuest | 00:34:38 | |||||
In this episode of The Procuretech Podcast, host James Meads explores the challenges of sourcing consultancy services and how to optimise the process. He is joined by Laurent Thomas, the co-founder and president of Consulting Quest.
Together, they discuss the unique complexities of sourcing consultancy services and provide insights on how technology can help streamline the process.
Tune in to learn more about this final frontier of procurement and discover strategies for sourcing consultancy services effectively.
Can procurement tech help us source consulting services?This episode explores optimising consultancy sourcing through technology amidst today's challenging economic landscape. Laurent draws parallels between consultancy procurement and other professional services, emphasising the distinction lies in decentralised procurement usually being the norm for consultancy. A central theme is viewing consultancy as an investment, rather than mere cost-cutting. By employing structure and technology, organisations can lower costs and elevate service value. Laurent's company offers a platform with resources for this endeavour. Additionally, the episode acknowledges challenges tied to personal relationships and cronyism affecting senior-level sourcing decisions. In sum, it highlights the vital role of technology and structured methodologies in consultancy sourcing, promising cost reductions, added value, and informed procurement choices. Timestamps: [00:01:40] Introducing Laurent Thomas of Consulting Quest. [00:04:10] Digitalising sourcing of consulting services. [00:08:33] Challenges in buying consulting services. [00:11:43] Buying projects multiple times. [00:15:38] Managing consulting beyond sourcing. [00:19:52] The power of healthy competition. [00:22:30] Independent consulting firms. [00:25:07] Biased rankings in consulting. [00:31:08] Average spend on consultancy. [00:31:37] Consulting as a golden goose. And that wraps up another episode of The Procuretech Podcast! Thanks to Laurent for sharing his insights with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Laurent Thomas, Consulting Quest or Procurement Software, check out the useful links below.Stay in touch!
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| 21 Jun 2023 | Importance of UI/UX and fast implementation – Ward Karson from Raindrop | 00:44:04 | |||||
In this episode of The Procuretech Podcast, host James Meads is joined again by Ward Karson, Chief Operating Officer of Raindrop – an enterprise spend management suite based in California.
Today they discuss the different considerations you should take when sourcing procurement technology, and what sort of questions you should be asking of your technology providers.
Sourcing Procurement Technology – Ward Karson from RaindropTimestamps:3:06 How did you get started in procurement? Getting started in procurement 30 years ago.
6:21 Pricing should not be the driving factor in choosing a procurement tech solution. The first step back and answer to the question.
11:28 The difference between up front cost and ongoing support.
13:30 How do you validate user experience?
17:13 How to know if your software is up to standard
22:05 How important are analyst reports to the wider market?
25:04 How to choose the right vendor. Comparing RFPs to online dating.
28:27 How do you know if you've never sat in my chair? Authenticity is important in the procurement industry.
34:00 Full suite vs. Best of breed
40:42 What is the optimum length of a contract for procurement software?
And that wraps up another episode of The Procuretech Podcast! Thanks to Ward for sharing his insights with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Ward, Raindrop, or Procurement Software, check out the useful links below. Stay in touch! | |||||||
| 03 Jul 2024 | No Code Procurement – Does it make sense to make vs. buy? | 00:18:26 | |||||
This week on The Procurement Software Podcast, host James Meads dives into the world of no-code procurement tools and generative AI.
James explores how these technologies enable teams to build custom applications and streamline processes without coding expertise.
Tune in to discover how no-code and AI technologies are transforming procurement, making simple and easy-to-use solutions accessible, especially to smaller and medium-sized organisations.
No Code Procurement: Is Make vs. Buy back on the table?In this episode, James explores the rise of no-code procurement tools, enabling teams to create custom applications like savings trackers, performance management systems, contract repositories and vendor onboarding platforms without coding. He highlights how tools like Airtable and Jotform enhance productivity through automation and digitalisation. James also discusses the impact of generative AI and models like ChatGPT and Gemini, which provide advanced functionalities such as contract summarisation and clause extraction, previously accessible only through expensive software. These technologies allow small teams to efficiently manage procurement tasks. By leveraging no-code tools and AI, procurement professionals can quickly develop solutions, track progress, and centralise resources, driving innovation and strategic goals. Tune in to discover how these technologies are transforming procurement, making advanced capabilities accessible to all organisations. The question for you is this: could you now build your own apps now to get proof of concept, before asking Finance for a bigger procurement tech budget?Timestamps:[00:01:00] - No Code Procurement [00:01:31] - The Evolution of Procurement Technology [00:02:04] - The Rise of No Code Movement [00:03:08] - Example: Procurement Software Database [00:05:07] - Impact of Generative AI on Procurement [00:06:32] - Seven Use Cases for No Code Tools in Procurement [00:06:43] - Use Case 1: Savings and Performance Management [00:07:58] - Use Case 2: Project Collaboration Tool [00:09:02] - Use Case 3: Vendor Onboarding [00:10:27] - Use Case 4: Simple Intake Requirements [00:12:00] - Use Case 5: Contracts Repository [00:13:35] - Use Case 6: Contract Collaboration Tool [00:14:49] - Use Case 7: Procurement Learning and Resource Hub [00:15:55] - Benefits of No Code Tools in Procurement [00:16:39] - Call to Action and Conclusion And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.Stay in touch!Grab your ticket to ProcureCon EU in Barcelona with 10% off!
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| 04 May 2022 | Using a Bot for Spot Ocean Freight – Alan Holland from Keelvar | 00:30:43 | |||||
This week we're taking on a very relevant topic in today's marketplace. Given the current supply chain crisis and geopolitical instability, what better time to speak to a guest from a unique eSourcing solution?
Alan Holland, CEO of Keelvar, is here to tell us how AI can offer something more immediate, spot and transactional, in these unstable times when agility matters.
Keelvar - bot technology for spot sourcingAlan begins by giving us a rundown of Keelvar - who it serves and how it works. Alan explains how his background in a university computer science department inspired Keelvar, and how his knowledge in AI has enabled him to develop a platform for sourcing excellence, that scales to any size of transaction.Recognising the importance of data... finally!Alan got into procurement after watching his PhD students making requests from chemical companies. It was a chaotic process, and as a computer scientist he identified it immediately as a data problem: Much richer information needed to be collected from suppliers, and data processes needed to be much more efficient. He explains a win/win situation here - with both buyers and suppliers benefiting from richer, more detailed data. This was how things got started for Keelvar.Optimising spot sourcing, as opposed to long-term tendersI ask Alan about Keelvar's unique focus: Optimising spot sourcing. Using ocean freight as an example, Alan begins by explaining what makes Keelvar stand out from its competitors. On the one side, there are strategic sourcing events that take a long time (often months) to complete. For these, Keelvar stands out by offering the most flexibility and detail. The other major challenge in ocean freight is change - be that rates, network requirements or ports. Every day you're going back to market with mini tenders to adapt to these changes. Keelvar has sourcing bots that can automate this process, and provide great flexibility in customising this automation. We talk about the difference between ocean freight and other areas such as consumer goods, highlighting how much flexibility and agility matter in an ever-changing marketplace.Predictability vs flexibility in ocean freightMany freight handlers reward predictability through their pricing. I ask Alan how Keelvar, which by nature doesn't provide that kind of predictability, can still create value when it comes to ocean freight. Alan explains how this capability is embedded in the sourcing bots: When requests come in, if there is predictability in the demand pattern, then that is gathered at the request stage and shared with the carriers.How does Keelvar deal with charges at port?Alan explains that each of Keelvar's customers has great flexibility in how they want to design their bid sheet. Each sourcing bot asks for different things. If you determine that port handling fees are cost elements that should be included in the overall offer, carriers can't submit a bid without including those fees.What is the biggest win offered by Keelvar?Is it cost, data quality, simplifying processes under one source of truth, or a mixture of all three? Alan thinks it's a mix of all three, but that time saved is the main thing - with one customer saving 93% of the time and workload required for these mini tenders in ocean freight. He sees this as Keelvar's top benefit. But other benefits included process consistency, and savings as a result of being able to approach a large number of carriers in parallel. Keelvar makes this kind of scalability easy, allowing you go out to many more suppliers and generate competitive tension in the process. Keelvar is also fast - there's no time spent waiting for someone in procurement to kick off a mini tender process.How does reporting work with Keelvar?All the big data is collected online, so it's not on spreadsheet. The bot then uses a chat interface with... | |||||||
| 11 Oct 2023 | The State of Procuretech address – Solo episode with James Meads | 00:28:21 | |||||
In this episode of The Procuretech Podcast, host James Meads first introduces the new look and feel of the website procurementsoftware.site. After months of work, the website now features a fresh and modern user interface, making it easier for users to navigate.
Additionally, 65 new solutions have been added to the database, bringing the total to over 400. The episode also mentions the launch of two new digital products as part of the website refresh.
Tune in to learn more about the exciting developments in the procurement technology space.
Current and future trends in the procurement technology marketJames has divided this solo episode into two sections. In the first section, he discusses fundamental challenges and opportunities in procurement, highlighting the change management process during digital transformations as a significant hurdle. He stresses the importance of involving stakeholders, as well as the need to improve internal marketing and communication efforts. We need to communicate what we do better to the wider business, and articulate how this fits into their objectives. The second section focuses on procurement technology trends, including generative AI's potential role in source-to-pay and procure-to-pay processes. Digitisation and sustainability are also explored, with James suggesting that sustainability initiatives present an opportunity for procurement professionals to secure investment into technology. Throughout the episode, the importance of effective change management and stakeholder engagement in procurement is underscored, emphasising the need for improved strategies and communication in the field. Timestamps: [00:01:52] Digital Procurement 101. [00:06:18] Change management and communication. [00:09:13] Modern tech stack in procurement. [00:13:48] Sustainability driving procurement technology. [00:17:21] Building in-house procurement tech - yes or no. [00:22:03] Tech companies cutting marketing budget. [00:25:48] Boom in sustainability and supply chain transparency reporting software. And that wraps up another episode of The Procuretech Podcast! A big thanks to you for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.Stay in touch!
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| 03 Nov 2021 | The Lowdown on Spend Matters 50 To Know, 50 To Watch and ProcureTech 100 | 00:32:52 | |||||
The Lowdown on Spend Matters 50 To Know / 50 To Watch and the ProcureTech100This week is a solo episode. I rarely do them, and I thought long and hard before publishing this. At the end of the day, I'm just one person who has a keen interest in digital procurement technology. I'm not an academic or a researcher, but I do take a passionate interest in what is out there and I have some strong views on what I feel should be the priorities when it comes to digital procurement transformations. I'm also acutely aware that most of the listeners to the podcast are not CPOs in enterprise level organisations. My aim is to bring content out there to Procurement Leaders outside of Fortune 500 companies and to shine light on solutions that are a fit for regular, mid-market businesses. Challenging or questioning the conventional wisdom of how these lists are made up is something I debated for a while. Ultimately I decided that listeners need to know and understand what goes into selecting these lists, so as they can look at them with a critical mindset and draw their own conclusions. I sincerely hope this episode provides value to everyone who listens to it and I would love to hear your feedback! Spend MattersSpend Matters are a household name to anyone in the Procurement space and are part of a larger parent company, Azul Partners.
Spend Matters was founded by Jason Busch in 2004 and was one of the first Procurement and Supply Chain Blogs.
The focus on digital procurement technology with their 50 To Watch and 50 To Know began in earnest in 2014, and has since grown to be the go-to resource for research, analysis and content in the digital procurement space.
So, what are the 50 To Watch and 50 To Know?
Let's have a look:
AlmanacThey're part of a wider directory of digital procurement solutions housed on the Spend Matters called the Spend Matters Almanac.
The Almanac has over 530 listings from 59 categories and over 140 analyst insights.
Feeding into the Almanac is the Spend Matters Solution Map, an interactive software solution finder, where the user can select a comparison of different types of procurement software based on a bunch of different criteria and buying personas.
Spend Matters have a pretty big analyst team to crunch the data, and the listings have been going since 2014, so they have a huge back catalogue of content and analysis to draw from!
There are 23 different categories in the Almanac in total, and not all of them are focused on software itself. There are some consulting, training and membership organisations included in here too.
But this is what sets the base for the 50 To Know and 50 To Watch
So, how do we get from here to the 50 To Know and 50 To Watch lists?
"The Spend Matters® annual 50 Providers to Know and 50 Providers to Watch lists are determined by the entire Spend Matters analyst team to represent the best of the commercial providers that serve enterprise-level procurement organizations."
"We do not include brand new startups with only a few employees and customers who are piloting some “minimum viable products”. We track over a dozen of them right now and are working on highlighting them in the near future." ... | |||||||
| 26 Aug 2020 | Importance of a Data Strategy – Scott Taylor is The Data Whisperer | 00:33:26 | |||||
The topic of data is like a boomerang. It always seems to come back into every discussion when we get into the nuts and bolts of implementing a digital transformation in procurement or even just implementing a software solution to get more visibility into spend analytics.
Problem is, investing in it often doesn't yield a visible payback that can be directly tracked to a future P&L statement. So, how can data management ever become top of the agenda?
My guest today argues that a significant part of the solution is being able to tell the right story to the right people, to help them better understand the implications of NOT doing this.
The message is clear. At the point of putting together a business case and a budget appropriation request for implementing procurement tech, getting your data ducks in a row needs to be an integral part of the calculation.
Scott Taylor joins me on this week's podcast to help explain why.
Why Implementing a Digital Procurement Solution Must Include A Data Strategy: Scott Taylor is The Data Whisperer1:47 What problems does Scott see when it comes to the causes and the effects of poor or inconsistent data? 5:53 Master data - what are the different types of data in the procurement space and where do the common pitfalls tend to come from? And how can feeding garbage into a procurement tech solution impact your implementation of a digital transformation? 8:46 Why is data management an important component in the various different procurement initiatives that are buzzwords at the moment? 12:02 Scott explains his "4C" concept and how it helps businesses to understand their potential flaws in master data management. 18:12 If we assume that cleaning your data is something that's a non-negotiable, I ask Scott how to approach the discussion with key decision makers. Specifically, how to pitch to CFOs to get buy-in to make the investment in something that doesn't have an immediate, demonstrable payback. 21:10 Scott explains why if digital transformation is part the journey of where a company wants to go, it requires highly structured data to successfully reach this destination. 22:11 Why selling data cleaning as a stand-alone project is likely to fail, and how to make the case for including data management and structure in the budget of any large-scale procuretech investment. 23:59 When it comes to data management, do smaller businesses have the advantage over larger corporations because they have fewer legacy systems and less data to manage, or do the larger businesses have the upper hand because they have the resources and expertise to stay one step ahead? 27:41 As a final question, I ask Scott about whether he thinks data scientists will be an integral part of procurement organisations going forward. How to connect with Scott: Meta Meta Consulting website Scott's YouTube Channel Scott's LinkedIn profileStay in touch!
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| 07 Jun 2023 | Funding tips for Procuretechs – Ruth Cremer from Entrepreneurial Education | 00:32:34 | |||||
In this episode of the Procuretech Podcast, host James Meads is joined by Ruth Cremer.
Ruth is a former investment manager for IT startups at Europe's most active seed investor. She's also an adviser to the German version of the famous TV series Dragon's Den (or Shark Tank, for US listeners).
She joins James for a conversation about how startups should behave when applying for funding, her new book, and why numbers are sexy.
Funding tips for Procuretechs – Ruth Cremer from Entrepreneurial EducationTimestamps:3:11 How did Ruth get into the field?
7:22 How to gain a profile by looking at specific industries?
9:17 What investors want in a pitch
14:46 How big is the market for start-ups?
16:46 Selling to small and medium-sized enterprises.
19:17 The typical warning signs of a startup on the edge.
24:21 Looking at the number of employees and the growth.
26:41 How can corporates make it easier to work with startups?
And that wraps up another episode of The Procuretech Podcast! Thanks to Ruth for sharing her insights with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there! If you want to learn more about Ruth or Procurement Education, check out the useful links below. Stay in touch!
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| 27 Apr 2022 | Source-to-Pay in the Mid-Market – Frank Schmidt from Onventis | 00:37:03 | |||||
Digital transformation doesn't necessarily have to be complex. Sometimes, an end-to-end source-to-pay (S2P) solution that joins up the dots, and automates a lot of otherwise manual processes, can give a huge productivity advantage.
The mid market has traditionally been underserved by procurement software, with tech companies typically going after large enterprise clients at their expense.
One of the older players in the European market is Onventis, who have successfully been improving and extending their offering since 2000 and successfully serving mid-market businesses. My guest today is their CEO, Frank Schmidt.
Providing a solid solution for source-to-pay in the mid market - Onventis has survived and thrivedFrank's audio unfortunately is pretty bad, so apologies for that ahead of the interview. We did the best we could.Who is the target market for Onventis?Mid-sized businesses for Onventis are those who fall into the bracket of internationally active manufacturing companies with an annual turnover of EUR 100 million to EUR 1.5 billion (approx. $110 million to $1.65 billion). Although they have customers who are much bigger than this too.What does their suite cover?At its core, Onventis is a source-to-pay suite but its functionality is more wide reaching than this. Their sourcing module goes right through to offer auctions, as well as basic contract management functionality. There are also additional applications covering supplier and risk management, as well as the catalogues and e-procurement functionality associated with the traditional full stack P2P offerings.How do they fare against some of the enterprise suites?Frank agrees that towards the upper end of their customer base, they are playing on the same turf as some of the more well-known enterprise level procurement suite providers. There has already been a lot of consolidation in this market, and Onventis has also been no stranger to this. Their recent acquisition of Swedish spend analytics platform Spendency, along with an invoice automation platform called Workflow Wise who were acquired by Onventis two years ago. My interview with Arvid Fredin, who was Spendency's CEO prior to the acquisition, can be found in Episode 24 of the podcast. As a German company, it's no surprise to learn that 70% of Onventis' customers are in a SAP ecosystem. This enables them to offer fully standardised integration with SAP, when so much of their business comes from customers already using SAP as their ERP system. Coming into contact with Ariba and Coupa is also commonplace.Why go for a suite vs. 2 or 3 best-of-breed solutions bolted together?Customers in this segment are always somewhat more price sensitive than enterprise customers, and the "time to value" is key in terms of seeing the ROI on their investment. Time to implementation is key, as is the ability to pick and choose which modules of the suite to purchase in the initial phase. Customers often want to see proof of concept or run a pilot and to see a positive return on their price to performance ratio. Offering modularity allows companies to tackle their digital transformation in a piece-by-piece way by capturing the most added value at first and then building on this.How much greenfield business is still out there?There isn't much greenfield business out there, which kind of surprised me a little when Frank said this. Most of the business they see is replacement business or expansion business in one form or another. Frank sees a lot of legacy tech, fragmented systems and botched transformations out there. Much of the technology is siloed, such as invoice automation in Accounts Payable, which is an area they often come across and are asked to consolidate into their suite approach. There is also a differentiation in the various industry sectors. Industrial manufacturing industries such as automotive are often ahead of... | |||||||
| 08 Sep 2021 | Importance of Subjective KPIs in SRM – Lars Kuch from LeanLinking | 00:26:25 | |||||
We're BACK!
We kick off series 2 of The Procuretech Podcast with with a mini-series examining three different Supplier Relationship Management platforms.
The first one we're taking a closer look at is Danish startup LeanLinking, and my guest on this week's show is their CEO, Lars Kuch Pedersen.
Why supplier performance data can't just be measured in hard KPIsLars begins by explaining how he came to set up LeanLinking following a successful career in procurement as a Regional Category Manager for a pan-European hardware retailer. One of the problems he was commonly faced with during his career in procurement was being on the other side of the table to Account Managers from his suppliers who almost always had better data on him as a customer than he did on them as a supplier. Was the company generally happy with the supplier's performance? Was quality performance acceptable? Were they easy to deal with when it came to scheduling deliveries or accuracy of invoices? How responsive were they when there were quality or delivery problems? The truth was, other than asking every single stakeholder individually, by email, he had no way of knowing. Lars quickly realised that he was far from alone with this problem. Most large companies don't have good supplier performance data outside of the standard on-time-in-full (OTIF) measurements.Hard vs. soft performance dataSpend data and delivery performance data is (relatively) easy to get hold of. In most companies, quality data can also be extracted from ERP systems. The challenges come when it comes to more subjective, "soft" data around performance. How do you measure that in an ERP system or in supplier performance KPIs? Without surveying stakeholders individually, it's extremely difficult. How do you measure hard data for ease of cooperation, responsiveness of suppliers? Some categories of spend make it harder to track Service Level Agreements (SLAs) or KPIs. How do you track the performance of a marketing agency? Much trickier than measuring the performance of a raw materials vendor.Managing performance of direct vs. indirect suppliersYou can't measure OTIF and corrective action incidents on indirect spend like you can on raw materials. Here, you're much more reliant on nurturing and collecting stakeholder feedback as part of the supplier review and SRM process. What are the concrete problems that need to be overcome to improve the overall cooperation with a supplier? These are often not visible when looking at hard KPIs.Not doing proper SRM = value leakageIf you're not constructively measuring supplier performance, you're missing out on driving value. What is the cost of poor supplier relationships? Yes, it's difficult to put a cost on, but not doing it is leaving opportunities on the table. Non-conformance reports or a ticketing system can be managed within LeanLinking. For example, a storesperson can raise non-conformance tickets for packaging issues, or incomplete deliveries of spare parts.What about SRM through ERP systems or enterprise level all-in-one Procurement suites?Lars explains how ERPs are not really built with Procurement in mind and don't offer the opportunity to measure supplier performance. SAP for example have acknowledged this and are opening up their interface to integrate best-of-breed procurement solutions as a compatible add-on to their ERP suite. Likewise, the major enterprise level suites for managing procurement are more focused on Source-to-Pay and don't really touch 360° supplier relationship management. Scorecarding and sharing agendas with stakeholders and suppliers to increase collaboration is not a feature built into these systems.How do "growth" sectors benefit from SRM if cost is not a major focus?In sectors such as tech and pharma, Lars explains that there is... | |||||||
| 23 Aug 2023 | Smart Contracts for Services Procurement – Jan Ellerbrock from trueLedger | 00:31:14 | |||||
In this episode of The Procuretech Podcast, host James Meads focuses on how technology is shaping the future of the procurement profession with Jan Ellerbrock, founder and CEO of Swiss Smart Contract Platform trueLedger, who discusses smart contracting in the professional services space and how software can help manage services post-contract signature.
Jan's background is in insurance and management consulting, which inspired him to pursue entrepreneurship and found his own company.
Smart Contracts for Services Procurement - Jan Ellerbrock from trueLedgerThis episode explores the benefits of smart contracting in the professional services industry. Smart contracting ensures transparency, compliance, and savings of 10% to 25% on professional service spending. The use of a smart contracting engine enables real-time tracking of progress, budget, and automatic invoice generation. By leveraging machine-executable smart contracts, organisations can maintain the latest contract versions and delivery tracking information. Focusing on the untapped potential after the contract signature helps prevent value erosion and improve efficiency. Real-time cost tracking is essential to control overspending on service parts, allowing for immediate root cause analysis and issue detection. It also enables daily projections, proactive budget management, and better resource mix control. Access to real-time information enhances project management and cost control, mitigating unexpected expenses. Timestamps: [00:01:57] Introducing Jan Ellerbrock from trueLedger. [00:06:27] Value erosion in professional services. [00:09:02] Managing service contracts effectively. [00:10:49] Collaboration and transparency in projects. [00:14:18] Collaborating with vendors. [00:18:27] Invoice automation and compliance. [00:20:52] Resource Mix in Consulting Contracts. [00:24:53] Efficiency gains in professional services. [00:27:43] Procurement savings potential. And that wraps up another episode of The Procuretech Podcast! Thanks to Jan for sharing his insights with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Jan Ellerbrock, trueLedger, or Procurement Software, check out the useful links below.Stay in touch!
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| 15 Dec 2021 | Best-of-Breed vs. Enterprise Suites: The Procuretech Pub with Nico Bac | 00:54:12 | |||||
Enterprise suites vs. Best-of-Breed is a long-standing and hotly debated topic.
This week's episode is an edit of a LinkedIn Live session that I did with Nico. If you'd like to see this on video, just head across to The Procuretech Podcast Page on LinkedIn and watch the complete live stream!
The ongoing debate between Best-of-Breed vs. Enterprise Suites: Which solution is best?We start off with a brief introduction of who we are, and our background. Always good to know how we both got into this space! Then, we dive in to an overview of what, and who, the enterprise suites are. If anyone is listening to the show who isn't an expert in procurement technology, we break it down in easy-to-understand language. So, what DOES an "all-in-one" suite do, and encompass, and where do they typically fall short? And why are best-of-breed solutions such hot property right now, and where could they potentially pose problems due to the fragmentation of needing to make numerous solutions communicate with one another? Nico makes a good case for how a suite can make life easy by covering everything all in one platform. I counter this by arguing that while that may be true, the cost and the complex, tedious implementation requirements make these suites out-of-reach for non-enterprise companies. So, where are the limitations of suites, and what are the pitfalls of best-of-breed solutions?When does a suite make sense vs. when does best-of-breed have the upper hand?Like most complex questions, it kind of depends. Suites are not agile. They take time to plan, scope and implement. Whereas best-of-breed may have the upper hand in terms of flexibility and agility, on the flipside it requires integration between multiple solutions. This has been made simpler thanks to APIs and cloud-based infrastructure, but your IT department will need to be open-minded towards change. Suites tend to be more bulky. Risk of obsolescence by the time a suite is fully implemented and integrated is a real concern. While Nico oversaw the transformation at P&G five years ago and was extremely happy with the result, the world has changed since then. Best-of-breed was a much smaller ecosystem back then than it is now, especially since the proliferation and growth of procuretech since the start of the pandemic. We finish off the live cast by looking at where this space is heading, and a lot of the future trends which may, or may not happen! It's always so much fun to speculate though! Specifically, we examine:
Stay in touch!
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| 20 May 2020 | Contract Management – Daniel Barnes from Ikaros Consultancy | 00:31:32 | |||||
Managing contracts can be a massive time suck but also an often under-utilised way of mining for gold when it comes to discovering savings opportunities.
In this podcast, I speak to Daniel Barnes of Ikaros Consultancy. Daniel is a law graduate and also recently launched his own podcast, World of Procurement.
We talk about how the human touch, combined with automation of repetitive tasks, is the best solution when considering how to best manage your supplier contracts.
Contract Management – Daniel Barnes from Ikaros Consultancy2:42 Daniel explains how he landed into the contract management space in the procurement world. 6:30 How Daniel took his experience working on government defence contracts and was able to take these key learnings into the private sector and civilian industries. 7:38 Are there significant differences in approach when considering smaller businesses versus larger corporates? 9:45 How the technology and resources could be different depending on the size of the business and the amount of contracts processed in any given organisation. 11:28 I ask Daniel whether it's better to approach contract management by size of spend basis first and foremost, or by category. The answer he gave was not what I was expecting. 13:20 A funny story of the building with no windows which nonetheless had £100k of invoices for replacement of windows. 16:00 We talk technology, and the advantages and limitations of using tech to be able to make contract management easier. 20:52 Why a digital contract management solution will only work if your organisation is ready to embrace it and your existing systems and processes can support it. 22:40 How to build a business case for a contract management solution. Is it primarily cost avoidance? And if so, how to convince a CFO to part with their budget to implement a solution to successfully manage it? 25:52 Does operational and tactical procurement have a future? Daniel has some pretty strong views on how these roles will likely be eliminated over the coming years. How to connect with Daniel: Daniel's LinkedIn profile Ikaros Consultancy websiteStay in touch!
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| 17 Jun 2020 | Measuring Procurement’s Value Delivery – Pierre Laprée from Per Angusta | 00:31:02 | |||||
Procurement has an image problem.
We're often seen as the department our stakeholders and business partners run to when they have a problem that requires an immediate reaction. We're often brought in to extinguish the fire extinguisher, but rarely to prevent them from happening.
So, how do we move from being a reactionary department seemingly in servitude to our stakeholders, to a better respected business partner that is seen as a value generator.
Part of the solution is making our contribution to the organisation better known and more visible. We're not just a department that fulfils our annual cost savings targets. We also provide a whole lot of other value that often goes unmeasured, but where individual business partners are more directly impacted.
It's here where we discuss how better awareness and communication of these initiatives, and a common mechanism to measure and track these, can make a huge difference to how procurement is perceived internally as a credible business partner.
My guest this week on the show is Pierre Laprée, CEO of Per Angusta. They're a French company who have developed and successfully implemented a tool that tracks total procurement performance in major businesses.
Measuring Procurement's True Value to the Business – Pierre Laprée from Per Angusta3:12 Pierre explains his background and how he went from Procurement Director to SaaS startup entrepreneur, by way of seeing a clear problem that needed solving and having the foresight and confidence to jump in with both feet to develop a solution! 6:17 I ask Pierre's thoughts on why procurement is often misunderstood. Whether he sees it as a lack of corporate understanding of what procurement actually does, or whether culturally it's just that we're still seen as being an administrative function. 7:43 Technology is not the solution to all problems. If the organisational structure is immature and a CFO is too blinkered to acknowledge procurement performance beyond just hard savings, there's no magic bullet. 8:42 We discuss the dangers of only measuring cost savings, and what can be done about this in terms of wider value recognition. 10:22 Pierre explains how performance tracking can be expanded to other financial and value-driven contributions that are not as obviously visible in the P&L. 12:56 There is a value bomb dropped here, around how small steps with value generation and achieving "more with less" can build trust on a longer term basis with key stakeholders. 15:10 We discuss mechanisms of how cost avoidance can be measured and recognised, and how designating and agreeing a model for this requires interdepartmental alignment right from the outset. 22:32 Is data quality imperative to get results and buy-in from using the tool? We talk about the issue of potential lack of consistency and reporting standards across different countries and business units. 26:22 Rounding off the interview, the benefits of open platforms and interconnectivity. There is much more flexibility when it comes to using best-of-breed solutions vs. a one-size-fits-all enterprise level procuretech software. How to connect with Pierre: Pierre's LinkedIn profile Per Angusta websiteStay in touch!
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| 27 Sep 2023 | How can Procurement Leaders grow with Coaching? – Laura Sellers from Olive | 00:32:59 | |||||
In this episode of The Procuretech Podcast, host James Meads welcomes Laura Sellers, a procurement coach who runs her own business, Olive Executive & Leadership Coaching. We discuss the role of coaching and how it can aid and assist leaders in the context of digital transformation.
Tune in to hear their insightful conversation on shaping the future of procurement through technology.
Can coaching for procurement leaders help them succeed?In this episode, we embark on a transformative journey into the realm of self-awareness, uncovering its profound impact on our ability to create a lasting impression without the need for constant justification. Laura guides us through the art of understanding our reactions and behaviours within our roles and organisations, empowering us to consciously shape our image. With courage as our compass, we explore the terrain of self-awareness, taking charge of our thoughts, feelings, and actions. This new-found control allows us to redefine our place and influence at the table, which can ultimately magnify our impact. Moreover, we also delve into the vital role of coaching in navigating the complexities of habit change and combating burnout. Despite the challenges of implementing lasting change, coaching emerges as a steadfast ally, offering ongoing support and guidance. Even when the path forward may not be crystal clear, coaching aids in unveiling hidden patterns and pathways for improvement. Timestamps: [00:02:02] Introducing Laura Sellers from Olive. [00:04:06] Change management in procurement. [00:09:10] Developing executive presence. [00:10:36] Burnout and work-life balance. [00:15:36] Reluctance to invest in procurement. [00:19:39] The fabled seat at the table. [00:21:29] Great leaders and how they practice self-awareness. [00:24:11] Coaching as a partnership approach. [00:28:19] Soft skills and self-awareness. [00:31:19] Investing in procurement software. And that wraps up another episode of The Procuretech Podcast! Thanks to Laura for sharing her insights with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Laura Sellers, Olive, or Procurement Software, check out the useful links below.Stay in touch!
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| 13 Oct 2021 | Procurement Summit Live Sessions: Part 1 – ESG and Risk Management Startups | 00:32:45 | |||||
This week, we bring you the first in a 3 part series of live episodes recorded at Procurement Summit in Berlin on 29 and 30 September 2021.
We’ll be covering a different theme on each episode, and featuring 3 procuretech startups each week. Our focus is on some of the newer, less well-known startups who pitched and exhibited during the summit to bring awareness to some of the exciting new players out there who are destined to grow quickly.
Hot Digital Procurement and Supply Chain Startups in the ESG and Risk Management SpaceOn this episode, we’re looking at startups whose mission is solving problems in the rapidly growing and increasingly important ESG and Risk Management area.ShipzeroTobias Bohnhoff, Founder of Shipzero is my first guest. Shipzero tracks and manages transport emissions, helping freight buyers and logistics managers to have more transparency around their shipping data. The tool essentially enables companies to make strategic decisions around two key areas of transportation procurement and logistics management:
One part of this conundrum is actually looking at where to source goods from. The increasing cost, especially of ocean freight, is making companies reconsider lengthy supply chains where historically the logistics cost was not a major factor. Technology is now in place to enable data sharing between companies. The transportation market is very fragmented and contains a lot of smaller businesses who are not as technologically advanced as global logistics firms. Shipzero enables this data to be aggregated for the end customer. When it comes to decarbonisation, there are also the factors of considering transportation methods powered partly or wholly by renewable energy. Shipzero enables companies to simulate the CO2 emissions based on different transportation scenarios. The range and payload for electric trucks is different to diesel trucks. Using a granular data stream from the telematics of the truck allows you to make the decision of which methods or lanes for transport can be switched to transportation from renewable energy sources. Tobias mentions that any company with over €/$100 million annual turnover with significant transportation spend can benefit and see a positive payback of using the tool to optimise their transportation. I ask Tobias how he would convince a company who doesn’t see this as a priority, to take action now rather than in a few years time. Then we round off the interview by looking at Shipzero’s plans for future growth. Tobias’ LinkedIn profile Shipzero website PrewaveNext up is Harald Nitschinger, CEO of risk management solution Prewave. Harald comes off the back of winning DPW’s Startup Pitch competition during their virtual conference just a few weeks ago in September. So, what’s so special about Prewave?! Well, it’s certainly a hot topic with COVID-19, broken supply chains, the new “Lieferkettengesetz” (Supply Chain Law) coming into effect in Germany making it a topic and a solution very much in focus right now. Supply chains have never been less transparent and have never been more complex, with large organisations having tens of thousands of suppliers all over the world. Keeping on top of all of these transactions, past, present and future, is almost impossible without the help of technology. Potential scandals, force majeure events, natural disasters We take the hypothetical example of a child labour scandal for a textiles retailer using a supplier in Bangladesh: how... | |||||||
| 14 Aug 2024 | Start Small, Prove the ROI, then Expand and Build on Success | 00:15:56 | |||||
This episode of The Procurement Software Podcast tackles the often-overlooked challenge of securing a budget for procurement technologies.
Host James Meads provides actionable strategies to overcome this hurdle, emphasising the importance of starting small with pilot studies and opting for affordable, user-based software solutions.
He also explores how procurement professionals can work smarter by reallocating existing budgets. Doing so can clearly demonstrate ROI to gain buy-in from financial decision-makers for larger investments.
Tune in to discover how to successfully advocate for procurement tech investments and drive innovation within your organisation.
Start Small, Prove the ROI, then Build on SuccessJames delves into this question, discussing the common obstacles procurement teams face due to a lack of dedicated software budgets and the high ROI expectations from CFOs. Key strategies include launching pilot studies in specific areas, such as a single manufacturing site or country office. Then, leveraging affordable software options like entry level procure-to-pay platforms, SRM tools like Canopy and LUPR, contract management systems like Concord, and e-sourcing platforms such as Market Dojo. James stresses the importance of taking initiative by reallocating budgets from travel, training, or consultancy to fund these projects. Proving the concept and generating positive feedback can create momentum, leading to wider technology adoption within the organisation. Tune in for practical insights and strategies to navigate procurement’s budget challenges and drive digital transformation effectively.Timestamps:[00:01:31] - The Challenge: Lack of Procurement Software Budget [00:03:07] - Understanding CFOs and ROI [00:04:23] - Starting Small with Pilot Studies [00:06:19] - Building Internal Support and Testimonials [00:08:07] - Quantifying Productivity and Opportunity Costs [00:10:04] - Carving Out Your Own Budget [00:10:25] - Affordable Procurement Software Examples And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.Stay in touch!Grab your ticket to ProcureCon EU in Barcelona with 10% off!
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| 21 Aug 2024 | Why do big consultancies partner with legacy S2P suites? | 00:14:51 | |||||
This episode of The Procurement Software Podcast delves into why big consultancies often partner with legacy source-to-pay suites.
Host James Meads explains how their corporate mindset and focus on large organisations can limit their understanding of the broader digital procurement market. Also, how conflicts of interest can result in big consultancies shilling legacy software.
Tune in to explore how to avoid falling for the trap of thinking the big consultancy is your friend when it comes to advisory on procurement software choices.
Why do big consultancies partner with legacy tech?This week, we delve into how a narrow focus on large corporate solutions drive big consultancies to favour established software players, often at the expense of more suitable options for small and mid-sized businesses. Financial incentives are also a key factor, with consultancies earning commissions on software sales and profiting from the complex, time-consuming implementation processes. These practices, however, raise significant ethical concerns. The episode sheds light on the conflicts of interest that arise when consultancies receive commissions, while simultaneously billing clients for their services. We contrast this with Procurementsoftware.site's commitment to providing impartial, client-focused advice, free from any conflict of interest from software providers. Tune in to gain insights into how these dynamics shape the procurement technology landscape and why choosing an unbiased advisor is essential for making the best decisions for your organisation.Timestamps:[00:00:38] - Why Big Consultancies Partner with Legacy Source-to-Pay Suites [00:01:21] - Corporate Mentality and Market Knowledge [00:02:44] - Influence of Research Houses [00:04:00] - Affiliate and Partner Commissions [00:05:04] - Implementation and Business Model of Big Consultancies [00:06:39] - Complexity and Configuration of Legacy Software [00:08:04] - Profit Margins in Implementation Projects [00:09:08] - Ongoing Consultancy Needs and Customisation [00:10:13] - Lack of Innovation and Market Knowledge [00:11:06] - Best of Breed Solutions vs. Legacy Suites [00:11:49] - Impartial Advice and Conflict of Interest And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.Stay in touch!Grab your ticket to ProcureCon EU in Barcelona with 10% off!
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| 31 May 2023 | Preparing For and Driving Change – Joël Collin-Demers from Pure Procurement | 00:30:00 | |||||
In this episode of the ProcureTech Podcast, host James Meads is joined by Joël Collin-Demers, Principal Consultant at Pure Procurement. The two discuss readiness for digital change in procurement versus the capacity for change.
Joel explains that he works with various customers on their digital initiatives and helps them optimise their processes and applications. He notes that while many companies are ready to make the jump to digital procurement, they often lack the capacity and resources to do so.
Importance of change management in digital transformationWe discuss how companies should first assess their current system and make sure they have the necessary resources to make the switch. He also emphasises the importance of training and up-skilling the existing workforce so they can become more proficient in digital procurement. Finally, he emphasises the importance of taking a holistic approach to digital transformation and ensuring that all departments are on the same page. Joël has been working in procurement and sourcing for over a decade and now runs his own business. He is passionate about finding the best combination of solutions for clients to help them reach their desired business outcomes. Each organisation has different needs based on their industry, budget, and constraints, so there is no one-size-fits-all solution. James adds that when a CPO of a well-known company talks about a certain solution, it may be great for their organisation, but not necessarily for yours, so you need to consider the maturity, size, country, and degree of centralisation and maturity of your own organisation when making these type of decisions.Readiness for changeThis conversation focused on readiness for digital change. There are five suggested components to consider:
We then look at a framework for understanding readiness for digital change. This framework is composed of Awareness, Desire, Knowledge, Ability and Reinforcement. Readiness for change means having an organisational attitude that is favourable to change and having an executive level sponsorship, mission vision, and a roadmap to follow. Capacity to changeCapacity to change is an intangible element that includes knowledge and ability needed to successfully change. The conversation discusses how organisations need to consider both attitude and capability when looking to make changes. This includes having a change management team, an understanding of the skills and knowledge needed, a conducive company culture, a sponsor and budget, a governance structure, and the ability to measure workload and improvement initiatives. Additionally, the advantages of consulting backgrounds are discussed, as those who come from these backgrounds have seen many more businesses and have greater exposure to what "good" looks like. Finally, the conversation touches on agility and how information flow and governance structures play a role in implementing changes.Stay in Touch!
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| 08 Dec 2021 | Leveraging E-Auction Data for Customer Success – Henrik Balslev from Scanmarket | 00:32:04 | |||||
Our final episode in our mini-series of e-Sourcing platforms brings us to a well-estalished provider who has been in the space for over 20 years.
So, during the interview with Henrik Balslev, CCO of Danish Source-to-Contract (S2C) software Scanmarket, the most obvious thing to talk about was all of the data they've collected since they've been offering e-auctions and RFx solutions to their customers.
Using 20 Years of E-Auction Data to Help Customers Gain Competitive Advantage - Henrik Balslev from ScanmarketScanmarket have been around a long time and are one of the early e-sourcing providers. They recently acquired Swiss-based contract lifecycle management (CLM) platform Symfact to complement their offerings in the S2C space, and can count customers in 86 different countries who use their software. Their typical client is pretty industry agnostic and somewhere from €1 billion to €20 billion annual turnover, so large enterprises but certainly not Fortune 500 territory.How have e-auctions evolved?Henrik has been involved in e-auction statistics since 2006. E-auctions are now being used as a more everyday tool and The evolution has been predominantly in these areas:
The move towards a total cost of ownership (TCO) strategy in many organisations has been the bedrock behind these seismic shifts. What about using auctions for services?Henrik surprisingly confirms that services have always been in the top 10 of most auctioned areas of spend within Scanmarket's platform, but they have seen a significant uptick since the start of the pandemic in March 2020. What sets services apart is that it is often more tricky to get stakeholders on board for tendering using an e-auction, and that it's also more difficult to measure some of the nuances in proposals for services. "Use the tool when and where it makes sense" is a very good time from Henrik to make sure that it aids and abets the user, rather than hindering the process through having a policy that forces category managers to use a software that isn't suitable for the tender or RFP in mind. Running the auction for certain elements within a specific provision of service can also be a successful strategy, and then inviting the top 3 suppliers from the auction to 1-on-1 negotiations to discuss the devil behind the detail. In other words, auctions are a great way to shortlist vendors if there is a large pool of potential suppliers for a certain service.How specifically does Scanmarket leverage their auction data?The same category for one company can be completely different to the situation within another organisation. There are so many parameters that aren't fixed and are dependent upon an organisation's maturity of procurement, relationship with incumbent vendor, and so on. Rather than focusing on this, they tend to look at more holistic data. Henrik cites an example of the optimal number of vendors to include in an auction. Bringing in an extra supplier into the auction statistically increases the savings by 1.11%, but only up to a total of 7 participating suppliers. Increasing the supplier count beyond 7 doesn't bring additional savings according to Scanmarket's data. We explore how a customer can also best achieve their end goal based on the different auction types and functionalities which can be switched on and off. The "if this, then that" (IFTTT) scenarios which can be looked into based on the data that Scanmarket has, to be able to guide the customer along a path that is likely, statistically, to be more successful.Dealing with... | |||||||
| 22 Apr 2020 | Fixing Dirty Data – Susan Walsh is The Classification Guru | 00:29:40 | |||||
Susan Walsh is The Classification Guru, bringing you affordable solutions to clean up your data before undertaking any digital transformation project.
Dirty data is the scourge of most organisations, both large and small. We discuss the approach, the root causes of poor data, what to do about it, and how maintaining key data is the key. Doing it once and then washing your hands of the problem is a recipe for disaster!
Fixing your Dirty Data - Get your data classified, so you can deliver savings opportunities or commence your digital transformation2:05 Susan's story of how she became a data specialist, from quite an unconventional work experience history! 6:45 Why starting with the basics and making data FUN is core to Susan's approach to data. 7:25 Where to get started if you're a complete beginner to the topic of cleaning your data. A "Data 101" of how to get the basics in place and what the best first steps to take should be. 9:20 Consistency is key - the first rule of data classification. Using a master taxonomy that sits above any local level data classification. 10:12 The first step: Supplier normalisation (vendor master harmonisation) to remove duplicate records of the same vendor. 11:31 Once vendor records have been harmonised, Susan then explains how the next steps are really dependent upon the client's setup and to what level of detail they wish to categorise their data. 13:32 What is the recommended programme for ongoing follow-up and data cleansing reviews? We dig in to how much ongoing maintenance is necessary, depending on the specifics of each case. 15:49 Proactive roles which can be playes to ensure data governance is given the necessary importance in roles and responsibilities throughout teams. 18:58 Susan gives her best answer to anyone facing the conundrum of how to put together a business case for senior leaders to sign off on the costs of a data cleansing initiative. 20:58 The opportunity cost question: Is it more cost effective to do this in-house? Why would you task your category managers or procurement analysts with this, when it's not their core job? 22:30 Ownership of data (or lack of!) Why this conundrum scuppers most organisations, and what can be done to change this. Where should data ownership sit, especially in a larger organisation? 24:29 The role that a Chief Data Officer could play in future, and how this could disarm some of the politics of "who's data is this anyway"? Useful Links:How to connect with Susan: How to connect with James:
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| 30 Oct 2024 | Crushing It with Customer Success - Dan Gianfreda from DeepStream | 00:30:45 | |||||
In this episode of The Procurement Software Podcast, host James Meads interviews Dan Gianfreda, the new CEO of DeepStream, to explore how procurement teams can move from reactive to proactive tech adoption. Focusing on key procurement challenges and organisational maturity, Dan shares actionable insights to help procurement leaders make smarter, value-driven technology decisions aligned with their team's capabilities. Tune in to discover how to transform your procurement function! Crushing eSourcing user adoption with Customer SuccessDan highlights the need for procurement leaders to define specific objectives and success metrics before embarking on tech investments. Doing so ensures they avoid the costly mistake of overspending on tools that don’t meet immediate needs. His approach centres on starting with simple, foundational tools that align with current capabilities. By mastering essentials first, organisations can prevent the frustration and underutilisation that often follow premature adoption of complex systems. A significant takeaway is Dan’s emphasis on leadership involvement, which he sees as crucial for successful digital transformation. Active support from senior management not only ensures proper resource allocation but also cultivates a culture open to change, smoothing the path for tech adoption. Dan advocates for a phased rollout, where procurement teams can progressively learn and adapt, building confidence and capacity before tackling advanced tools. This incremental approach minimises risk and maximises effectiveness. It provides a roadmap for realistic, strategic improvements that prepare procurement teams for long-term success in a constantly evolving tech landscape. Timestamps:[00:01:34] Proactive procurement strategies [00:05:51] Value realisation in ProcureTech [00:09:05] Best of breed vs. suites [00:12:01] Customer engagement in sales process [00:15:20] Procurement software selection strategy [00:19:59] Best of breed vs. suites [00:23:33] One size doesn't fit all [00:25:35] Customer success and expansion strategy And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.
Stay in touch!
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| 08 May 2024 | Which tech would I buy first in a greenfield Head of Procurement role? | 00:17:29 | |||||
This week on The Procurement Software Podcast, we delve into the topic of selecting technology in a greenfield procurement role.
Host James explores what technology he would invest in if given the opportunity to lead a digital transformation in procurement.
Join us for a deep dive into the world of procurement technology and decision-making.
What digital procurement tools should you buy first?In this podcast episode, the importance of incorporating spend analytics software into procurement is highlighted as a means to gain insights and enhance value within the function. Advances in AI and machine learning have made these tools more efficient, allowing procurement teams to focus on strategic activities. The episode also discusses the benefits of using procure-to-pay and source-to-pay platforms to streamline processes, reduce administrative burdens, and enable procurement professionals to concentrate on value-driven tasks. Furthermore, the adoption of niche category-specific tools tailored to the organization's unique needs and challenges is advocated for more efficient procurement processes and cost savings. Overall, the episode emphasizes the critical role of technology in optimizing procurement operations, driving strategic decision-making, and achieving procurement excellence. Timestamps: [00:00:48] Greenfield procurement technology investments [00:04:32] Technological advancements in spend analytics [00:05:30] Importance of Spend Analytics [00:08:41] Procurement team efficiency strategies [00:13:12] Niche category specific tools [00:15:10] Focus on Category-Specific Tools and Solutions [00:16:01] Eliminate, automate, delegate for efficiency And that wraps up another episode of the show. Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.Stay in touch!Grab your ticket to ProcureCon EU in Barcelona with 10% off!
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| 20 Sep 2023 | Guided Buying for mid-market businesses – Thejo Kote from Airbase | 00:36:16 | |||||
In this episode of The Procuretech Podcast, host James Meads invites Thejo Kote, CEO and founder of Airbase, into the hot seat. Thejo introduces guided procurement as a new feature recently launched by Airbase.
Airbase focuses on serving the underserved mid-market sector, offering a platform that brings together all workflows and payments related to non-payroll spending.
Bringing guided buying in mid-market organisationsIn this episode, James and Thejo discuss the company's mission to create a procurement tool that strikes a balance between simplicity for employees, alongside the necessary features and maturity for professionals and practitioners. They acknowledge the daily complexities faced by procurement experts but also recognise the need for a user-friendly experience for employees. The challenge lies in catering to different company preferences and accommodating individual personalities. The company's approach is to build a flexible tool that guides employees through the procurement process without extensive training. It focuses on clarity, easy navigation, and a consumer-grade user experience, aiming to consolidate all spending needs into one platform. The value proposition of a single interface for all spending, offering both breadth and depth, is highlighted as a compelling solution. Timestamps: [00:02:09] Introducing Thejo Kote, CEO of Airbase. [00:04:47] Procurement tech for underserved markets. [00:05:31] Procurement process automation helps businesses. [00:13:33] Underserved middle segment in procurement. [00:16:00] User-friendly procurement platform with consolidation. [00:21:20] Collaborative tool for guided procurement. [00:26:00] Balancing complexity and user experience. [00:31:57] Airbase’s focus being mainly on the North American market. And that wraps up another episode of The Procuretech Podcast! Thanks to Thejo for sharing his insights with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Thejo Kote, Airbase, or Procurement Software, check out the useful links below.Stay in touch!
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| 02 Sep 2020 | Increasing Day-to-Day Productivity – Richard Sains from Acada | 00:31:36 | |||||
There are lots of options out there for software to facilitate and digitise our P2P processes, perform e-sourcing or manage our contracts more effectively.
However, the surprising omission up until recently was having something that gets us out of our inboxes. Procurement still relies heavily on email, and the volume we receive means that important stuff can easily be missed.
Storing Excel and Word documents, as well as project updates and meeting minutes on Sharepoint was able to do that to a certain extent. But let's be honest, Sharepoint's interface is pretty clunky. It's also difficult to find stuff on there unless you've got an experienced administrator.
The solution? One answer is to have a cloud-based SaaS app which shares project updates, stakeholder and supplier communication and delivery objectives all in one space.
That's what Richard Sains, my guest today, has developed. He's one of the growing contingent of former procurement professionals turned procuretech entrepreneurs!
! Note - my audio is a bit sketchy on this one due to me recording this outside of my usual podcasting space.
Improving our Productivity for Day-to-Day Communuication and Project Management: Richard Sains from Acada1:43 Rich explains what ultimately drove him to make the switch from being a category manager to a SaaS entrepreneur. 4:54 We discuss the biggest changes over the last 5 or so years in terms of developments in the procuretech space, and how the continuing trend seems to be the faster, leaner, more agile tools that are “best-in-breed” modular, niche solutions. With this comes some unique challenges in terms of integrating all of these together to get them to communicate, but technology is evolving to deal with this. Swapping things out and replacing them one-by-one makes it easier to upgrade on a modular basis rather than a major IT project each time there is an upgrade. 7:52 I ask Rich what he sees as the most common forms of waste or inefficiency in procurement teams and to what extent he sees automation or technology as the solution to combat some of these challenges? 12:01 Some inefficiencies of existing working practices will have been laid bare as a result of Covid-19 and the immediate shift in many cases to remote work. What therefore are the biggest challenges to larger organisations if we assume remote work in some form is here to stay? 14:24 Should technology be seen as a facilitator or productivity enabler? Or will it completely replace some manual tasks in their entirety and eliminate some operational or tactical procurement roles? 18:32 Rich in his own words describes Acada as an innovative system for procurement people to manage their workload and give visibility to their leaders and stakeholders. He expands on what he means by this here. 22:29 There are overlaps and similarities to some of the other tools out there, a couple of them have even been on the show. I’m thinking specifically Tarmo from ProcurementFlow (Episode 2) and Pierre from Per Angusta (Episode 13). Rich explains any specific inefficiencies or value adds that he feels Acada solves, that other SaaS tools in the procurement tech space can’t do. 25:56 Acada is a pretty new tool compared to some of the other solutions out there, so what are their next steps in terms of growth or development? 28:12 Rich walks through the business case of if I was a CFO, how would he convince me to buy Acada as a tool? How to connect with Richard: Richard's LinkedIn Profile Send Richard an email Acada websiteStay in touch!
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| 05 Jul 2023 | ESG and Sustainable Supply Chain – Sheldon Mydat, CEO of Suppeco | 00:36:55 | |||||
In this episode of the Procuretech Podcast, host James Meads is joined by old friend and procuretech founder Sheldon Mydat - CEO of Suppeco.
Sheldon is here to talk about ESG and sustainability, as well as sharing his thoughts on the current digital procurement landscape.
ESG and Sustainable Supply Chain – Sheldon Mydat, CEO of SuppecoTimestamps2:01 Sheldon’s career to date
4:18 What is the difference between the Suppeco platform and other ESG platforms?
8:37 The further you go along the supply chain, the smaller the companies become...
11:25 How the Suppeco platform is designed to be collaborative
17:13 How is this different from a documents repository like SharePoint?
20:06 What are the cornerstone functionalities that hang together to make this work?
22:53 What’s the future of procurement technology?
28:27 The value is in the narrative, not the numbers.
And that wraps up another episode of the Procuretech Podcast. Thanks to Sheldon for sharing his thoughts with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there! If you want to learn more about Sheldon, Suppeco or Procurement Software, check out the useful links below. Stay in touch!
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| 01 Aug 2024 | Does Direct Spend need its own Tech Stack? | 00:24:01 | |||||
This week on The Procurement Software Podcast, host James Meads delves into some unique technology needs that direct procurement teams are often facing.
James explores how specialised tech stacks, including advanced inventory management systems, supplier relationship tools, and risk mitigation software, can address the distinct challenges faced by direct procurement teams.
Tune in to uncover how these cutting-edge technologies enhance efficiency, mitigate risks, and foster stronger supplier relationships, making sophisticated procurement solutions accessible to direct procurement teams of all sizes.
Does Direct Spend Need Its Own Tech Stack?In this episode, we delve into the unique requirements of direct procurement and why it necessitates a specialised tech stack.
This episode underscores the need for tailored technology solutions in direct procurement to enhance efficiency, mitigate risks, and strengthen supplier relationships. Timestamps:[00:03:06] - Direct Spend vs. Indirect Spend Tech Stack [00:05:05] - Key Features of Direct Spend Platforms [00:07:14] - Five Key Areas Where Tech Can Make a Difference in Direct Spend [00:08:18] - Strategic Sourcing and Cost Management [00:12:00] - Supply Chain and Operations Planning [00:14:43] - Quality, Third Party Risk Management, and Sustainability [00:18:07] - Niche Category Specific Tools [00:20:48] - Conclusion: Does Direct Procurement Need Its Own Tech Stack? And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.Stay in touch!Grab your ticket to ProcureCon EU in Barcelona with 10% off!
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| 29 Sep 2021 | AI-driven Master Data Cleansing – Adriano Garibotto from Creactives | 00:30:40 | |||||
AI is a term that often scares anyone who is not familiar with the technology and the application.
In this episode, we're going to cover some of the different use cases for AI in the procurement space, and then dive into master data as a specific case study.
Adriano Garibotto, Co-Founder and Chief Sales & Marketing Officer of Italian procurement data management company Creactives is my guest on this week's show to break down this not-as-scary-as-it-sounds technology!
Using AI to Clean Procurement DataCreactives originally set out as a cost reduction consultancy for indirect procurement back in the early 2000s, focusing specifically around optimisation of MRO spend in manufacturing businesses. The constant challenge of poor data, inaccurate or missing taxonomies and battling with free text PO descriptions is what ultimately led them down the path of creating a software business to solve this problem at scale. Origins of what Creactives is today comes from some of the early stage AI utilised by their consultancy around 15 years ago. Together with a collaboration with the University of Verona, they then doubled down on developing a software solution which can help to classify, clean and structure complex master data from multiple ERP systems and sources.Some examples of what AI can do in the Procurement spaceAI must be applied to specific fields to provide tangible solutions. The fundamentals of procurement can be broadly classified into the following 4 questions:
Answering these questions is not easy, especially in large, enterprise level organisations with legacy systems i.e. different ERP systems, multiple languages and complex supply chains. AI can play a strategic role in the harmonisation of the data and helping to create a unique visibility. This is the fundamental building block which leads to other opportunities to use AI in the procurement space. How can AI be leveraged as a catalyst for positive change?Addressing resistance to technology is a change management issue, as Adriano explains. At its core, getting the right organisational structure in place is the key to success. Data preparation historically required a large amount of work from procurement professionals. There is the classic Pareto of 80% of the time being taken doing the preparation, and only 20% conducting the actual added value activity for which the clean data is necessary. If AI is able to do the lion's share of the 80%, this then allows strategic resources to be freed up to focus on more value-added activities which can actually implement the changes and the projects to drive the costs down, or reduce the supply chain vulnerability, or whatever the higher goal of the activity may be. Data itself on its own doesn't intrinsically have value - it is the enabling factor that facilitates the journey to be able to deliver the value.Is category management dead as an organisational structure?Adriano makes a controversial - but very valid - point that the category management architecture of procurement organisations which has been dominant for the past 20 or so years will be rendered irrelevant by AI. The way procurement teams operate in future will be beyond the category model, as a result of data being the driver of how organisations drive value in their business. Product launches and lean activities cut across numerous different categories, and the design of procurement departments must consequently adapt to this.To what extent can AI perform data classification?Adriano uses a nice example of comparing master data and AI solutions to motor vehicles. The more sophisticated the engine is, the more sophisticated that the fluid going into the engine needs to be. The same applies to procurement data and the AI... | |||||||
| 18 Dec 2024 | Private Events as a Marketing Strategy - Gregory Vider from Apadua | 00:31:38 | |||||
In this episode of The Procurement Software Podcast, host James Meads welcomes Gregory Vider, co-founder and CEO of Apadua, to discuss their recent Indirect Procurement Days invite-only mini conference held near Frankfurt, Germany. Their conversation delves into the benefits of networking in a more intimate setting compared to larger conferences. Tune in to explore how these innovative events could shape the future of marketing in the procurement space. Private Events as a Marketing StrategyThis week, Gregory explores the rise of micro events and their unique role in transforming procurement marketing. These intimate gatherings offer a fresh alternative to traditional conferences, prioritising personal connections and meaningful engagement. Gregory highlights how micro events, like Apadua’s recent gathering at the Villa Rothschild in Königstein, create a relaxed atmosphere for attendees to connect. Through informal settings—such as a “kitchen party” with tapas and self-serve drinks—participants can engage in deeper conversations and build lasting relationships. A key insight is the focus on community-building. By bringing together satisfied clients and potential customers, Apadua fosters authentic interactions that extend beyond the event itself. Gregory explains how this approach strengthens emotional connections with the brand, laying the groundwork for trust and loyalty. Another advantage? Micro events offer cost-effective solutions while giving organisers complete control over the attendee experience. This enables companies to align the event’s structure with their values and goals, ensuring a more targeted and impactful outcome. By reimagining networking through micro events, Gregory demonstrates how companies can create memorable experiences, nurture relationships, and drive long-term value in today’s dynamic procurement landscape. Timestamps:[00:03:07] Productivity and collaboration platform. [00:04:11] Procurement and stakeholder collaboration. [00:11:41] Kitchen party event concept. [00:12:11] Unconventional event networking experience. [00:17:06] Emotional attachment to software. [00:21:30] ROI from conference participation. [00:25:49] Community building through events. And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.
Stay in touch!
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| 16 Oct 2024 | Success with savings tracking (NOT in Excel) - Paul Gurr from Provalido | 00:31:20 | |||||
In this episode of The Procurement Software Podcast, host James Meads sits down with Paul Gurr, founder of Provalido, to dive into the nuances of building and managing a high-impact savings pipeline. From stakeholder alignment to identifying various different savings and value-driving categories, we drill down into key strategies and share insights to give your budgeting process a nudge in the right direction this Q4. Tune in to redefine your pipeline strategy! How to succeed with procurement savings pipelinesPaul shares insights into how procurement can move beyond cost-cutting by embracing a structured, continuous ideation process that actively involves stakeholders from departments like finance, operations, and marketing. Engaging these perspectives unlocks creative, value-driven solutions that align with organisational goals and foster cross-functional collaboration. One of the key points discussed is the importance of leveraging suppliers’ expertise. Paul explains that suppliers can provide invaluable insights into market trends, innovative products, and potential efficiencies, helping organisations identify additional savings opportunities. Maintaining open lines of communication with suppliers can thus be a strategic advantage. Paul emphasises that building a high-impact savings pipeline isn’t a one-off project; it’s a dynamic, year-round process. Provalido’s platform is designed to support this by offering a centralised space where ideas can be scored, prioritised, and tracked. This structure not only enhances transparency and accountability but also builds trust among stakeholders by providing clear visibility into the progress of cost-saving initiatives. A standout takeaway from this episode is the breakdown of procurement's financial contributions into four categories:
Paul explains how these categories require tailored approaches to maximise impact, demonstrating procurement’s ability to contribute strategically to the organisation. Ultimately, an effective procurement pipeline goes beyond cost savings, aligning with business objectives and adding long-term value. Timestamps:[00:02:25] Procurement tech's essential functions. [00:05:15] Performance management in procurement. [00:10:03] Financial benefits of procurement. [00:10:57] Cost reduction strategies in procurement. [00:15:53] Revenue drivers in procurement. [00:19:31] Continuous procurement ideation process. [00:22:18] Resource allocation in project management. [00:25:17] ROI in savings reporting. [00:27:57] Procurement department complexity. [00:30:47] Enterprise tech for SMEs. And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.
Stay in touch!
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| 19 Jan 2022 | AI in Procurement: Opportunities and Watch-outs – Melissa Drew from IBM | 00:36:01 | |||||
On this week’s episode I get to talk to a well-known industry expert and dive into a subject many of you may be confused and excited about in equal measure.
Melissa Drew, Associate Partner at IBM is my guest to dive into the topic of use cases for AI in procurement applications. We tackle where we are, where we’re headed and what some of the opportunities and limitations could be for this technology in this space.
Use cases, opportunities and limitations of AI in ProcurementMelissa starts off by giving a quick whistle-stop tour of her career so far, which includes 27 years in the procurement space in one form or another. I then begin by asking the question of whether AI and robots are about to take over our lives.Are robots about to take over our jobs?Melissa gives a very important definition that AI and cognitive technologies are actually different things, and that what we commonly refer to as AI in digital procurement terms is in fact what she would define as cognitive technologies. The difference being, in the example she gives, that AI in driverless cars is constantly evolving and developing its behaviour as it learns from different scenarios that it is being exposed to. Whereas on the other hand, cognitive technology that’s often used in digital procurement technology is highly reliant on the human that is programming the algorithm telling the machine what it should actually do.AI is only as intelligent as the human programming itIn order for outcomes to be representative, a human has to “teach” the models. Teaching the models can only be done by collecting data. But HOW we collect the data and from which sources obviously impacts the programming that is written around how the machine interprets this. Melissa gives the example of Amazon’s CV screening algorithm that was unknowingly biased towards male candidates because of the way that it had been programmed based on the data it had been fed. Inadvertently, it had been shown more male applicants during its programming and as such had developed a bias towards male candidates.What has contributed to improvements to AI over the past 20 years?AI was originally used to augment human behaviour; to take things that we tactically need to do repetitively as a process and just do them faster and more accurately. Synthesizing, cleaning and categorising complex procurement spend data used to take Melissa about 9 long weeks. Back in 2004, when she started applying AI to be leveraged for repetitive tasks in spend analysis and categorisation, it reduced this task from 9 weeks down to several hours. That’s the potential that AI has. As Melissa explains, what has changed over the past few years is the infrastructure that organisations have to house the data, as well as the improved ability to be able to collect and process it all.Why we still need humans to interpret and assess AI’s workHow do we ensure that we are collecting all of the right data? Are we using the right breadth of data. Why is AI making the decision or recommendation? | |||||||
| 20 Nov 2024 | S2P & Vendor Management in Energy Sector - Praveen Kalamegham from Workrise | 00:32:22 | |||||
In this episode of The Procurement Software Podcast, host James welcomes Praveen Kalamegham, CTO of Workrise, to discuss the importance of industry-specific solutions in procurement technology, particularly in the oil and gas sector. The conversation dives into how tailored tools can better meet the unique needs of different industries and enhance procurement processes. Tune in to learn how to confidently choose and implement the right procurement tech to drive efficiency and innovation in your organisation. S2P and Vendor Management in the Energy SectorPraveen emphasises the importance of tailored procurement solutions for specific industries, particularly in the energy sector, where complex supply chains and massive capital projects are the norm. He highlights how tailored tools like Workrise address unique challenges, ensuring companies avoid the pitfalls of generic solutions that fail to meet sector-specific needs. His perspective focuses on the need for transparency and trust in procurement processes, especially in an industry often driven by handshake agreements. By connecting all aspects of procurement—from sourcing to payment—Workrise fosters real-time visibility and stronger supplier relationships, enabling energy companies to operate more effectively. A key takeaway is Praveen’s emphasis on adaptability. Workrise is designed to integrate with existing systems, allowing organisations to enhance their current operations without overhauling established processes. This flexibility is particularly vital for companies hesitant to adopt new technologies due to fears of disruption. Praveen advocates for building an engaged supplier network, where active collaboration ensures resources are available when needed. This proactive approach, coupled with alignment between procurement and finance functions, accelerates decision-making and enhances cost efficiency. By tailoring its solutions to industry needs, Workrise demonstrates how procurement technology can drive immediate value while laying the foundation for long-term success in a highly dynamic sector. Timestamps:[00:02:21] Assessing procurement technology needs. [00:06:31] Niche tools for energy procurement. [00:08:11] Complexities of CapEx projects. [00:12:38] Cost savings in energy supply chain. [00:17:25] Niche solutions in energy sector. [00:20:34] Supply-side ecosystem challenges. [00:25:30] Partnerships in the energy industry. [00:27:16] Trust through transparency in industry. [00:29:26] Partnership in procurement tech. And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.
Stay in touch!
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| 17 Jul 2024 | Entrepreneurial Procurement: Why we need a business owner mindset | 00:18:01 | |||||
This week on The Procurement Software Podcast, host James Meads dives into the world of entrepreneurial procurement.
Tune in to discover how this approach encourages innovation, efficiency, and greater value delivery, transforming the procurement function into a strategic driver within organisations.
Entrepreneurial Procurement: Pragmatism over Rigid ProcessIn this episode, we explore adopting an entrepreneurial mindset in procurement, focusing on prioritising results over rigid processes. By thinking like a business owner, procurement professionals can deliver greater value to their organisations. Traditionally, procurement has emphasised set procedures, often at the expense of efficiency and agility. An entrepreneurial approach encourages breaking free from these constraints, driving innovation, expediting decisions, and adapting quickly. James highlights how re-allocating budgets from FTE salaries to technology can enable teams to invest in tools that automate tasks and enhance efficiency. With this approach, it can be done even if you don't have a specific software budget authorised by the CFO. This shift can lead to significant cost savings and more efficient resource utilisation. Another key concept is the minimum viable product (MVP) approach, inspired by tech startups. By identifying the bare essential processes needed for compliance, procurement teams can streamline operations, reduce bureaucracy, and foster creativity and agility. Overall, this entrepreneurial mindset can drive innovation, deliver value, and contribute to organisational success.Timestamps:[00:02:26] - The Challenge of Entrepreneurial Procurement [00:03:10] - Technocratic vs. Entrepreneurial Mindset [00:04:47] - Thinking Like a Business Owner [00:05:30] - Budgeting with an Entrepreneurial Mindset [00:07:05] - Flexible Staffing Strategies [00:08:43] - Investing in Technology Over Headcount [00:09:57] - Retaining Star Performers [00:11:09] - Minimum Viable Product (MVP) [00:15:04] - Business Partnering Mindset [00:16:10] - Importance of Data in Procurement And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.Stay in touch!Grab your ticket to ProcureCon EU in Barcelona with 10% off!
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| 20 Mar 2024 | Intake to Procure to Pay – Rujul Zaparde from ZIP | 00:28:36 | |||||
In this episode of The Procurement Software Podcast, host James Meads interviews Rujul Zaparde, founder and CEO of Zip. They discuss the importance of embracing modernisation and digitisation in procurement.
Rujul shares insights on how to effectively allocate a budget for driving change within the function, highlighting the significance of control and visibility over spend in today's procurement landscape.
Tune in for valuable tips on leveraging technology to transform procurement processes and stay ahead in the ever-evolving industry.
Will Intake-to-Procure replace Source-to-Pay?In this podcast episode, the spotlight is on Zip's innovative approach to enhancing procurement processes through a user-friendly intake platform. Founded by Rujul, Zip aims to revolutionise procurement by making it more accessible and intuitive from the very start. The platform is designed to be the first point of contact in procurement, requiring minimal training due to its simplicity and user-centric design. Rujul emphasises the importance of early engagement in procurement to streamline request management, competitive bidding, and spending control. Zip's commitment to a seamless user experience, inspired by consumer tech, promises to tackle the traditional challenges of software adoption in procurement. The company not only offers a practical intake solution but also supports customers with implementation and best practices. By working in tandem with legacy systems like SAP, Zip enhances user experiences and encourages broader adoption. Central to Zip's ethos is a relentless focus on user research and feedback, ensuring the platform evolves to meet user needs, thereby driving innovation and customer satisfaction in the procurement software market. Timestamps: [00:00:41] Introducing Rujul Zaparde of ZIP [00:02:43] Starting with intake for procurement [00:04:27] Intake to pay [00:07:46] User experience in procurement [00:11:11] User experience [00:14:19] Product led company philosophy [00:19:06] Procurement challenges across industries [00:20:11] Collaboration vs. Competition [00:24:17] Challenges and opportunities at Zip [00:26:27] Understanding end user experiences And that wraps up another episode of The Procurement Software Podcast! Thanks to Rujul for sharing his insights with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Rujul, ZIP or Procurement Software, check out the useful links below.Stay in touch!Grab your ticket to ProcureCon EU in Barcelona with 10% off!
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| 03 Oct 2022 | Democratising Supply Chain Training – Dr. Muddassir Ahmed from SCMDOJO | 00:31:54 | |||||
Welcome back to The Procuretech Podcast!
We're continuing our series of interviews with industry experts and thought leaders to get their take on digital procurement. In this episode, we're going to extend that a little bit and talk about supply chain.
Democratising Supply Chain Training - Dr. Muddassir Ahmed from SCMDOJOToday's guest is a big personality in the supply chain space: Dr. Muddassir Ahmed, CEO of SCMDOJO. He's got a YouTube channel with almost 10,000 subscribers and a complete resource platform for online courses. But before we talk about that, let's get some background on how he got there.Dr. Muddassir Ahmed's background – From corporate to SCM thought leadershipMuddassir studied abroad in Sweden, where he earned a masters in production and supply chain. He then moved to the UK for a PhD scholarship. Settling in Birmingham, he began work for the manufacturing company Eaton. Muddassir started work as a demand planner, but got to experience a wide range of roles at Eaton. He gained experience in supply chain across different departments; electrical, automotive, aerospace, hydraulics. So he's hardcore supply chain guy, through and through. When he finished his PhD in 2015, he realised that most content in the supply chain space was pretty archaic in nature. FinTech content at the time was a lot more attractive: Punchy articles, simple “How To...” guides, easy to read lists. He thought he'd try to bring this bite-sized content to the world of supply chain, and it worked! What started out as a personal blog quickly grew into a brand in its own right, taking on the name SCMDOJO in July 2018. SCMDOJO now gets 50,000 visitors every month, and the YouTube channel is growing too. Dojo is a Japanese word which means place to stay and meditate. And that's exactly what SCMDOJO does. It gives the supply chain community knowledge, tools and best practices, to help them survive and thrive. Last year, Muddassir took his biggest risk yet, when he left his job to focus on SCM Dojo.What impacts has Muddassir seen from disruptive procurement technology?Muddassir thinks we have a lot of catching up to do, in procurement. We're easily a decade behind FinTech when it comes to digitisation. He often gets criticised by the big ERP providers for saying this, but he thinks they're really slowing us down. If the same four ERP providers didn't have a stranglehold on 80% of the market, things would change more quickly. There has been a move to adopting digital tools lately, but the downside from Muddassir's perspective is that they're rarely made by supply chain people. Every supply chain is very vertical driven, and needs to be customised to the user's business model. This takes consultation and a lot of time. As a result, transformation in supply chain has been slow. It might be 10 years late, but better late than never. The flurry of startups in recent years presents some problems. Everyone wants to go the SaaS route, but there's no clear guide on which software to use, how to use it, or how best to customise it. | |||||||
| 09 Feb 2022 | Spinning a Startup out of Corporate – Michael Pleuger from akirolabs | 00:35:12 | |||||
There are many great stories about how startups are created, but this one is particularly interesting. Take a procurement organisation that is often cited as best-in-class, and then challenge it with becoming even better. My guest on today's show, Michael Pleuger, is a former Senior Executive at Vodafone Procurement who had the mandate to do just that. The result became akirolabs, and the journey of how this happened is our discussion today. Making a Best-In-Class Procurement Team even Better: The story of akirolabs and the strive for excellenceMichael's journey with Vodafone started out with him being part of the team who designed and launched the Vodafone Procurement Company, headquarted in Luxembourg. akirolabs is the first AI-enabled collaboration platform for strategic procurement, and was borne out of him being challenged by Vodafone Procurement Company's Founder and CEO (now akirolabs Co-Founder) Detlef Schultz, to take their already mature procurement digitisation to the next level. Beyond category management: filling a white space in today's procurement technology landscapeTo set the scene, Vodafone already had industry-leading digitisation and was performing as one of the best-in-class organisations when it comes to three KPIs of measuring the effectiveness of procurement:
Michael couldn't see at first anything missing from the existing set-up. How do you take that and improve on it. All operational and tactical procurement was already digitised and automated to a high degree, so the question that Michael got to work on was: how can we make the more strategic side of procurement more digital? Thinking outside the box and looking at other industriesMichael's proposal was working around replacing experience with vision, leadership and collaboration. One of the first things the team did was to bring in McLaren Applied Technologies: the data and analytics spin-off of the McLaren F1 racing team. Just doing that in itself shows that bringing best practices from other industries or walks of life can have a huge impact. When you consider just how many data points a motor racing team has to measure to get one step ahead of their rivals, it's not surprising that the insights they could offer were hugely insightful. Classic thinking outside the box. Not "what is our competitor doing?" How did they arrive at Category Management as the focus area?Procurement is in a unique position as the node between the business and the supply chain. No other function in the business works with such a diverse range of stakeholders within the business and at the same time looks outwards with the relationships that we manage with external suppliers. So, what is needed to optimise and leverage this position?
With these three factors, the team then concluded that the Category Management process would be the best way to bring all of this together in some digital form. But does this translate to the average procurement team?It's one thing doing this for EUR 26 billion of spend in an extremely mature... | |||||||
| 15 Jul 2020 | AI-Powered Spend Intelligence – Sreeram Venkitakrishnan from Simfoni | 00:25:40 | |||||
While many solutions providers in the procuretech space have focused their efforts on automating or simplifying operational procurement, my guest this week is from a company who have used this technology to bring AI-driven benefits to the spend analysis process.
Instead of just providing a spend dashboard, Simfoni is seeking to distinguish itself from an increasingly crowded marketplace by offering spend classification, a suggested savings roadmap and risk analysis all in one.
We discuss how this can lead to faster decision making, as well as exploring some of the limitations where the procurement skills of the person managing the category will still come into play.
Just like a pilot's relationship with an aeroplane's auto-pilot capabilities, AI can do the heavy lifting, but the nuanced expertise of the procurement professional is vital.
Leveraging AI to Power Smarter Spend Intelligence: Sreeram Venkitakrishnan from Simfoni3:10 What is AI-powered spend intellgence? 5:41 I ask Sreeram whether AI capabilities are really that advanced when it comes to classification of PO data and the ability to categorise vendors and individual POs into taxonomies or buckets of similar spend. 10:15 Can a machine or artificial intelligence perform risk analysis? Or is it more around accelerating decision making through making certain pieces of data more accessible? 13:31 We explore how using AI and machine learning can locate the most lucrative cost savings opportunities, which could vastly speed up the amount of time to come up with an expense reduction roadmap from an initial spend analysis. 15:20 Sreeram explains the concept of "should cost analysis", and how market intelligence can be utilised to project what direct materials should cost based on market price intelligence and various sources of commodity price data. 17:32 We discuss how tools like this can facilitate the ability to "hit the ground running" in a new category management position, especially in cases where Buyers and CMs don't have experience of purchasing that particular category before. Will Simfoni and similar tools enable access to more roles for experienced Category Managers with a more generalist background? 20:17 Of the 3 key pillars that Simfoni offers, I ask Sreeram his thoughts on which of them will have the most profound impact over the years to come. 24:10 I muse about some of the same topics coming up in several different interviews that I've done for the podcast and how this is very unlikely to be a coincidence! If you want to stay relevant, ensure you're aware of what these are! How to connect with Sreeram: Simfoni website Sreeram's LinkedIn profileStay in touch!
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| 14 Nov 2024 | Which categories of procuretech excite me, and which don't? | 00:25:19 | |||||
In this episode of The Procurement Software Podcast, host James Meads explores most the exciting opportunities in procurement technology, focusing on three emerging categories: spend analytics, e-sourcing, and AI-driven co-pilots, each offering unique solutions to procurement’s evolving challenges. Tune in to learn how these innovative tools are reshaping the future of procurement, helping organisations stay competitive in an ever-evolving market. Which categories of procuretech excite me?This week James discusses how spend analytics is now a critical component for larger organisations, especially those operating multiple ERP systems. He compares navigating procurement without spend analytics to sailing a ship without a compass. New, affordable solutions leveraging AI are making these insights accessible to mid-market companies with revenues from $100 million to a few billion, allowing for better spend classification and analysis, and ultimately, more strategic decision-making. E-sourcing tools also feature prominently, particularly for organisations looking to streamline tender processes and drive cost savings. Many companies still use outdated methods like emails and spreadsheets, but these lack the efficiency and data tracking capabilities of dedicated e-sourcing platforms. With high user adoption, these tools bring significant operational advantages by centralising supplier data and automating compliance tracking, making them a clear choice for procurement teams aiming for greater productivity. James then introduces AI-driven co-pilots as the latest innovation to transform procurement. These tools are designed to automate repetitive tasks, such as routing purchase requests and acknowledging purchase orders, that might be too nuanced for traditional RPA solutions. The flexibility of AI co-pilots allows procurement teams to operate more strategically, focusing on high-impact projects rather than routine workflows. Each of these technologies—spend analytics, e-sourcing, and AI-driven co-pilots—represents a leap forward for procurement teams seeking to innovate and adapt in a competitive landscape. By embracing these tools, organisations can drive efficiency, improve supplier relationships, and make more informed decisions. Timestamps:[00:01:21] Categories of ProcureTech excitement. [00:06:00] Growth in spend analytics technology. [00:08:08] Underserved SME technology market. [00:12:05] Tail spend management automation tools. [00:16:15] The future of SRM technology. [00:21:44] B2B marketplaces - do they have a future? And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.
Stay in touch!
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| 19 Jul 2023 | Customer Case Study – Nick Verkroost (Canopy) and Anna Williams (Unispace) | 00:41:16 | |||||
Host James Meads is joined by two guests, this week. Nick Vekroost is the CEO of procurement tech company Canopy. Anna Williams is head of procurement at the office design and build organisation Unispace, where Canopy has been successfully implemented.
This is a rare opportunity to speak to a procurement tech provider and one of that provider's clients at the same time. We'll talk about their implementation journey, share their successes and hopefully give you some ammo for making a business case to your CFO or CEO.
Customer Case Study – Nick Verkroost (Canopy) and Anna Williams (Unispace)Timestamps 2:36 The challenges and advantages of working with a smaller organization vs a larger company.
7:56 What is the reach of Unispace? How many staff will have access to the data?
10:05 The supply chain is so critical to everybody's business.
14:43 Canopy is like an intelligence layer that sits on top of ERP.
19:46 Risk management and Unispace
22:23 Risk and the Canopy platform.
28:54 When we say data, what do we mean?
And that wraps up another episode of the Procuretech Podcast. Thanks to Nick and Anna for joining us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there! If you want to learn more about our guests, Canopy, Unispace or Procurement Software, check out the useful links below. Stay in touch!
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| 19 Aug 2020 | Spend Analytics with Process Mining – Samir Kharkan from SCALUE | 00:32:19 | |||||
Understanding what you spend is the most important part of strategic procurement. Without this, you can't do much else. You're shooting in the wind, not really knowing whether what you're tackling are the ripest opportunities.
While spend analysis tools have been around for a while, they're now becoming old hat.
The new generation provides spend analytics and guides you to where the best opportunities may be hiding in your spend data.
Taking it to a completely new level, the ability to combine spend analytics with process mining is game changing. If you're not sure what process mining is, it will save what would previously have taken days, if not weeks of work to find holes and inefficiencies in your processes.
The P2P process is a classic case of where this can be implemented effectively, and combined with spend analytics to drive both performance improvement and cost reduction.
That's what my guest today, Samir Kharkan, CEO of German startup SCALUE is here to talk about.
The Killer Punch for Extracting the Most Value: Combining Process Mining with Spend Analytics2:40 I start off by asking Samir the same question as I asked Kevin last week, and that is: what makes a vendor “cool”? 3:14 Spend ANALYSIS vs. spend ANALYTICS. What’s the difference, and how does analytics drive businesses forward more than just a standard analysis dashboard? How SCALUE and similar tools (see episode 3 with Eddie from Seaforth Analytics) differentiate themselves from the first wave of spend cube software 6:54 What is Process Mining, and how does this add further benefits beyond the spend analytics function in terms of analysing business processes to view potential inefficiencies and non-compliances? 8:30 Does a powerful tool such as spend analytics combined with process mining enable CPOs or CFOs to employ less experienced procurement managers now that software can do most of the heavy lifting? Spoiler: the answer is NO! 11:45 I ask Samir to walk through what the must-haves or prerequisites are on the customer’s side to ensure that implementation of a tool like SCALUE is successful. Samir’s "Captain of the ship" analogy is absolute gold! 15:47 We drill down into why this type of solution specifically solves a common problem for mid-sized companies, when considering this with the captain, ship and compass analogy that Samir so eloquently explains. 17:53 Is spend analytics and process mining also a relevant tool to use in professional service industries where there is no product being manufactured? 20:43 We drill down into an example of where an automotive supplier discovered 30% maverick spend in indirect services through the data made available by using SCALUE’s solution. Samir walks us through how they discovered it and then put measures in place to reduce this. 26:00 Let’s talk payback calculations…how long does it take for customers to typically see return on investment? 27:18 Samir gives a great example of how looking at invoice discrepancies based on drill down of incoterms can often give return on investment in just one swoop. How to connect with Samir: Samir's LinkedIn profile SCALUE websiteStay in touch!
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| 18 May 2022 | Making the Case for the Suites – Jim Bureau of Jaggaer | 00:35:02 | |||||
This week our guest is Jim Bureau, CEO of Jaggaer. He’s carving out a niche for an all-in-one solution, at a time when best of breeds are gaining market share. I’m known as a bit of a best of breed fanboy, so Jim is stepping into the dragon’s den, here!
I welcome Jim to the podcast, congratulate him for his bravery, and ask him about the challenges of offering a full suite solution in a tough market.
Jim says it’s important to acknowledge that, while companies may want to commit strongly to either best of breed or full suite solutions, the reality is that most companies end up using a mix of different tech approaches.
He goes on to talk about the importance of user experience. Whether a solution is best of breed or wider in scope, the thing that users pick up on is the experience. And that’s what Jaggaer focuses on.
The future landscape for established suites
I ask what Jim expects to see in the future for established suites like Jaggaer. Does he expect things to become more modular? Is that a direction he’s thinking of following with Jaggaer?
Jim says that the reason why full suites exist in the first place is that it’s expensive to tie things together. He thinks that simplicity is key here, and that this question brings up two important initiatives for Jaggaer at the moment.
One is creating an environment and ecosystem of partners that allows people to have suite systems while being able to plug niche, innovative vendors into that - quickly, easily and without requiring a lot of IT spend. Jaggaer allows customers to share third party modules and products that can easily be plugged in.
Secondly, Jim is also working on something called Jaggaer Compose. This allows the customer and partner community to build out business processes that are specific to a niche or industry, and can then be shared amongst one another. He believes this will completely change the game on how people interact with these systems today.
It will officially be launched at the end of Q2.
A Pick and Mix approach
I ask Jim if he sees a future where customers can take a more “pick and mix” approach. For example, let’s imagine a consumer thinks that an external spend analytics product is stronger than what Jaggaer can offer. Is that something that they could, as part of their RFP, specifically request?
Jim says that, for any CEO, no-one wants to forgo business! But he accepts that this is how most companies want to work.
Jim has spent a lot of time and effort on Jaggaer’s autonomous commerce platform. Autonomy is important, and true autonomy comes from embracing sources outside of your own system - taking information from sources like TealBook or EcoVadis, and working that into your machine learning. There are so many sources of information out there, and you’re never going to own everything.
I agree that you can’t be... | |||||||
| 06 Jul 2022 | Agile Spend Analytics for SMEs – Thomas Heller-Njor from CostBits | 00:29:48 | |||||
This week we're diving back into the topic of spend analytics and spend analysis, with a focus on smaller and medium sized businesses. We'll look at the challenges they face, and how smaller businesses can afford a spend analytics solution that works for their unique needs.
We're joined this week by Thomas Siersbæk Heller-Njor, from CostBits – a procurement professional who's entered the procurement tech space, with a unique spend analysis solution for the mid market.
Tailoring Spend Analytics to the Mid MarketFirst up, I ask Thomas to introduce himself and his background. Thomas started working in IT, then moved to working in procurement for the shipping line Maersk, where one of his projects was in spend management. He found himself living in Cape Town, doing an assessment for the 42 sub-Saharan countries, and realised he had no tool for the job at hand: Gathering PO data, contract data, spend data, etc. So he built a very crude version of his software then, and realised it was a tool that others could benefit from. He's excited to get to work in this space, and passionate about wanting to make data more accessible, available, and actionable. I pick up on the word 'actionable' as a key differentiator between CostBits and its competition. What does this mean, and makes CostBits stand out? There's a range of different factors here. From a user perspective, the main benefit of CostBits (as well as a simple UI), is that most people stop with analytics. Maybe people working in strategy look into analytics once in a while, but his experience is that a good contract doesn't always equal real savings. So how can he create a spend management platform that gives more? Data. All the data that CostBits get every minute, or even every second, can be mined. Let's say you agree on a price of a hundred, then you get billed for a hundred and twenty, CostBits can use data to see that and ask “is this a good idea?”. It generates actions and guidance for normal people who can't see through millions of lines of complex data. It notices things: “There's a contract for this category and you're not using it – is that okay?”. CostBits aims to bridge strategy and day-to-day operations with understandable suggested actions.Building on invoices, not ordersThis kind of contract / price discrepancy happens more often than we'd like to admit. One of my frustrations with pulling spend analytics from ERP is that procurement gets access to all the different reports around orders placed, but that's not spend – spend is what you actually pay on invoices. That's why CostBits is built entirely on invoices, and if they can get purchase orders, contracts, and catalogue information, that gets added on top. When working with smaller mid-market customers, invoices are where the real useful information lies. Smaller companies don't have a wealth of resources for data management. They may have maybe one person who does business intelligence, and they don't necessarily know the data. So CostBits simplifies this, by focusing on actions to create real impact. Data and resourcing are critical here, and that I'd like to come back to that point. But before that, let's get back to basics. How much revenue or spend would a company need to have before they'd see the benefits of what CostBits? | |||||||
| 03 Apr 2024 | Will AI-powered procurement tools make our roles irrelevant? | 00:17:40 | |||||
In this episode of The Procurement Software Podcast, host James Meads delves into the topic of whether AI could make procurement as a profession irrelevant.
The discussion highlights the significance of embracing generative AI, despite privacy and confidentiality concerns.
Tune in to stay ahead of the curve in the ever-evolving world of procurement technology.
What impact will AI in procurement have on jobs?This podcast episode delves into the significant impact of generative AI technologies like ChatGPT on the procurement sector, particularly in automating routine tasks traditionally managed by procurement personnel. It highlights the efficiency gains from AI in drafting legal documents and managing transactional activities, which could make certain roles obsolete. The discussion points out the risk for organizations that lag in adopting AI, potentially losing a competitive edge and failing to attract skilled professionals. Despite AI's advancements, the episode emphasizes the enduring importance of human skills in strategic procurement areas where AI cannot replicate the nuanced human touch, such as in stakeholder management and supplier relationships. The future of procurement is envisioned as more strategic, with professionals focusing on value-added activities, supported by AI for routine tasks. Procurement professionals are advised to enhance their soft skills and strategic capabilities, in order to remain relevant in this evolving AI-driven landscape. Timestamps: [00:01:44] The Role of Generative AI in Procurement [00:02:49] AI's Influence on Recruitment and Efficiency [00:04:37] Real-world Application of ChatGPT in Procurement [00:05:52] The Future of Procurement Technology [00:06:14] AI's Effect on Tactical and Operational Procurement [00:10:55] Human Element in Strategic Procurement [00:11:18] The Future of Procurement Roles [00:12:21] Career Development in the Age of AI [00:14:30] The Return of Administrative Roles [00:15:43] Final Thoughts on AI and Procurement And that wraps up another episode of The Procurement Software Podcast! Thanks for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.Stay in touch!Grab your ticket to ProcureCon EU in Barcelona with 10% off!
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| 15 May 2024 | How much does procurement tech actually cost? | 00:12:49 | |||||
This week on The Procurement Software Podcast, host James Meads explores different price points for procurement technology applications.
James discusses software options costing less than $20,000 to $25,000 per year, those ranging from $25,000 to $75,000 annually, and higher-end solutions.
Tune in to discover what each price point can offer your procurement team and how to make the most of your tech budget.
How much do digital procurement tools cost?In this episode, the focus is on the broad spectrum of procurement technology solutions available across various price ranges, catering to different organizational needs and budgets. For those with a budget under $20,000 per year, niche-specific software designed for SMEs offers basic yet modern e-sourcing and spend analytics capabilities. Mid-market organizations with a budget between $25,000 to $75,000 per year can access more comprehensive e-sourcing solutions, AI-powered spend analytics, and full-featured procure-to-pay software, along with supplier relationship management platforms. For budgets exceeding $100,000 per year, top-tier procurement technologies become available, including full e-sourcing suites, advanced spend analytics, complete source-to-contract suites, and AI-powered automation for tactical and tail spend. The episode emphasises the importance of aligning procurement technology investments with organisational budgets and the need to enhance procurement processes and drive digital transformation within the procurement function. Timestamps: [00:02:24] Procurement tech on a budget. [00:05:05] Accounts payable workflow automation. [00:06:19] Procurement Tech for $25,000 to $75,000 per Year [00:09:00] Premier League of procurement technology. [00:12:08] Digital procurement introduction. And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.Stay in touch!Grab your ticket to ProcureCon EU in Barcelona with 10% off!
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| 26 Sep 2022 | Tech and Remote Workforce Management – Lilia Stoyanov from Transformify | 00:25:36 | |||||
Welcome to another episode of The Procuretech Podcast!
We're continuing our third series of conversations with industry leaders, which now releases twice a week.
Tech and Remote Workforce Management – Lilia Stoyanov from TransformifyToday's guest is Lilia Stoyanov, someone who truly wears many hats. She's a professor at Ziggurat Business School. She's an independent contributor to Entrepreneur Magazine. And most importantly, she's the CEO of Transformify - a vendor management and payroll management system. Our conversation opens with a brief catch-up on Lilia's background.Lilia Stoyanov's early careerLilia started off in the shared service space, working for Coca Cola where she helped to build a shared service centre. Her role, as either CFO, or – as at Coca Cola – director of procure to pay, involved structuring shared service centres. The big challenge was that Coca Cola, like so many large enterprises, had a variety of subsidiaries and a confusing tangle of legacy tech. Lilia's job was to decide how to bring all that together, and which PTP system or STP system to implement. This meant factoring in time, and of course cost. Which at the enterprise level could be huge. It's not only the cost of the system. With those types of traditional procure to pay suites, you often need an army of consultants to implement it as well. Then there's training people how to navigate new systems that are very complex. And they shouldn't be. In the past, it seemed like suites needed to look complex in order to impress buyers with all their functionality. Now it's the opposite. Users are demanding simplicity and accessibility. Whether this is the influence of Gen Z entering the workforce, or just users losing patience with outmoded tech, the message is the same: Software needs to be user friendly.Leaving enterprise to become an entrepreneurThis eye for simplicity and user-friendliness was an inspiration for Lilia. The same could be said for her unique vantage point: Working inside growing companies that are breaching into the enterprise level gave Lilia insights into the process of building a business. It was only a matter of time before she wanted to do it for herself. Having seen how enterprises function, she could see what the common problems are before she even began. And it's important to know the pitfalls, and also what the market is demanding. Otherwise, you can't bring a product to the market that everyone else needs and is ready to buy. Lilia would absolutely recommend this to budding entrepreneurs. If you're considering such a journey, first of all, how do others do it? How are successful businesses structured? What's the hierarchy? How do you manage teams? How do you respond to change? How do we respond to fast paced growth? And after that, you'll be ready to do it yourself.How did Lilia's experiences in corporate influence Transformify?There are two big problems that pretty much every procurement team... | |||||||
| 12 Jan 2022 | Spend Analytics: Expanding a Mature Solution – Sammeli Sammalkorpi from Sievo | 00:29:44 | |||||
I’m joined today on the Procuretech Podcast by Sammeli Sammalkorpi, CEO of Sievo, one of the stalwarts of the spend analytics space. The well-known Finnish company were actually founded almost 19 years ago!
During this time, what started out as a simple spend analysis tool has grown to be a comprehensive best-of-breed solution for spend analytics. We discuss how this niche has matured over the years and what direction it’s headed in the future.
Spend Analytics: Maintaining relevance and continuously improving in a crowded marketSammeli starts off by explaining how being from Lapland, his parents’ wish was always that he would become a reindeer farmer! Instead, he landed into software development rather than staying in his hometown. This came about through starting out as a junior analyst in a procurement consulting firm and realising quickly that there weren’t any tools out there to efficiently analyse and report on what a client’s business is spending its money on. In a crowded marketplace, Sammeli puts Sievo’s success down to staying on top of the latest technological trends as well as listening to and striving to satisfy their global, enterprise level client base. Machine learning and AI is developing and evolving quickly. New technologies and more and more data is available. They have seen many well-funded competitors enter the market, and some of them fail. Even though Sievo have never received any VC money, they have gradually grown to 220 employees in their two bases in Helsinki and Chicago.How has Sievo grown despite the onslaught of competitors?There are 3 factors Sammeli gives as the main drivers behind their continued success:
Leveraging their data assets to add to the CXDrilling down on this piece, Sammeli mentions three areas where they have been ableto improve customer experience through aggregating data:
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| 22 Nov 2023 | Procurement tech’s latest developments – Simon Geale from Proxima | 00:34:53 | |||||
In this episode of The Procuretech Podcast, host James Meads is joined by Simon Geale, VP of Procurement at leading UK-based consultancy Proxima. This is a fireside chat-style episode about the latest trends in procurement technology.
Simon talks about his background and role at Proxima, and the company's focus on serving large enterprise clients with complex procurement problems. They also touch on Proxima's acquisition by Bain and its potential impact.
Tune in to hear their insights on how technology is shaping the future of procurement.
Digital procurement: ongoing developments and trendsIn this episode, the exploration of generative AI's role in procurement tasks reveals a perception gap between its potential and the value offered by traditional providers. Despite acknowledging generative AI's capabilities in vendor discovery and strategy development, the episode highlights some of its potential ineffectiveness if not used properly. The discussion raises questions about software vendors being able to adapt to this gap, and also touches on the democratisation of tools like ChatGPT and its role in automating procurement tasks. We discuss the continued flourishing of digital procurement startups, which significantly expand technology options for digitisation and innovation in our profession. Emphasising the importance of realistic expectations, the episode underscores the evolving landscape where innovation is not solely dependent on budgets, and it concludes by urging effective communication about AI capabilities and limitations, in a world where the belief in the omnipotence of systems persists. Timestamps: [00:01:09] Introducing Simon Geale of Proxima [00:05:33] Interacting with Proxima clients. [00:08:29] Digital maturity and procurement. [00:13:16] Lack of dynamism among CPOs. [00:15:02] Digital transformations and failure. [00:18:49] Setting realistic expectations in procurement. [00:23:02] Perception gap in AI advancements. [00:26:41] Industry 4.0 revolution. [00:30:57] The future of ERP. [00:34:10] The future of procurement tech. And that wraps up another episode of The Procuretech Podcast! Thanks to Simon for sharing his insights with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Simon Geale, Proxima or Procurement Software, check out the useful links below.Stay in touch!
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| 29 Jun 2022 | Profit from the Source – Dr. Wolfgang Schnellbächer from BCG | 00:39:42 | |||||
This week we’ve got another informal chat from The Procuretech Pub livestreams. I’m talking to Dr. Wolfgang Schnellbächer from BCG, the author of a new book fresh off the presses - Profit from the Source: Transforming Your Business by Putting Suppliers at the Core.
Supplier-centric transformation and the future of procurementI ask Wolfgang for a quick bit of background, before we move on to talking about his book. He explains that he is currently leading procurement for BCG across Europe, the Middle East, Africa, and South America. He focuses on procurement transformations across different industries, including automotive. In particular, Wolfgang says that he enjoys expanding the mandate for procurement for wider value generation, using technology. I ask Wolfgang about common mistakes in how organisations manage their procurement teams internally. He says that, interestingly enough, many of the biggest companies make the biggest mistakes - 50, 60, perhaps even 70 percent of a company’s overall budget is managed through suppliers by procurement. Oftentimes it goes even higher. If you look at how much time CEOs spend thinking about suppliers or procurement, you’d be surprised: 1% of their day, which is around seven minutes. There is not enough focus on procurement, when there’s such big potential in terms of overall spend numbers.Sales or sourcing? Why businesses need to shift their focusI ask Wolfgang why procurement doesn’t get the same level of attention as sales. He thinks that this goes overlooked because most CEOs come from a sales background. It’s a legacy issue that has to change. Look at Apple - Tim Cook, Apple’s CEO was a CPO before that. He’s always thinking in terms of profit from the source, and it’s paid off for them. I go on to ask Wolfgang if this means we need to get CEOs on board, so that organisations can view procurement differently. Or is it more simple, that procurement just needs a bigger training budget? Wolfgang thinks it’ll need a structural mandate to empower procurement. As an example, he asks us to imagine an engineering company: It may have relatively few engineers in-house, but imagine every engineer in that company’s supply chain, all the way down the tiers… It’s a huge number of people that could be coming up with great ideas for that company. It’s frustrating that procurement always gets so little time and money spent on it, so late in the process. He also agrees with my second point on training - we need to train people better. It all comes down to experience and expertise. If you have people working in steel procurement, they should have worked in a steel plant. Industry experience really matters.Category specific experience - why procurement deserves expertsCPOs often move their procurement professionals around, presumably thinking that it’ll broaden their experience and expose them to more categories. But I put it to Wolfgang that he’s almost saying the opposite - procurement experience only has so much value, and it’s category-specific experience that really counts. He says that procurement people should have technical expertise in what they’re... | |||||||
| 13 Sep 2023 | Procuretech in the Middle East – Iyad Aldalooj from Penny Software | 00:33:35 | |||||
In this episode of The Procuretech Podcast, host James Meads welcomes Iyad Aldalooj, founder and CEO of Penny, a source-to-pay solution and B2B marketplace, based in Saudi Arabia. They discuss the challenges and nuances of the procurement technology space in the rapidly developing Middle East and Gulf region.
Tune in for an insightful conversation on the future of procurement in the Middle East.
The Procurement Technology Landscape in the Middle EastIn this episode, Iyad underscores the need for user-centric design in enterprise software, aligning it with consumer app experiences like Uber. Iyad critiques the persisting complexity and outdated interfaces in enterprise software and advocates for prioritising simplicity to enhance employee engagement and productivity. Using Penny as an example, he showcases how a user-friendly approach can attract suppliers without extensive training. The episode also discusses the importance of governance policies in procurement software, emphasising the values of saving, control, and efficiency. CEOs and CFOs are identified as advocates for digitising procurement to ensure compliance and governance, especially in rapidly growing mid-market companies. Penny targets such companies driven by governance needs, regardless of location or industry. Timestamps: [00:01:45] Introducing Iyad Aldalooj from Penny. [00:05:37] What makes Penny unique. [00:09:09] Focusing on market size. [00:13:24] Millennials and Gen Z's [00:16:39] Automation of procurement work. [00:19:27] Procurement software market complexities. [00:24:03] Reseller as a unique product. [00:29:14] Digitising the full value chain. And that wraps up another episode of The Procuretech Podcast! Thanks to Iyad for sharing his insights with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Iyad Aldalooj, Penny, or Procurement Software, check out the useful links below.Stay in touch!
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| 10 Nov 2021 | Leveraging E-Sourcing for Non-Price Factors – Lukas Wawrla & Tim Grunow from Archlet | 00:27:28 | |||||
This week we kick off a mini-series of 5 podcasts on e-sourcing software.
On the one hand, this is a mature market, with lots of established players. Indeed, many of the larger suites started out as auction platforms back in the day.
But this is now being challenged by fresh thinking and new technology, especially as businesses realise that there are way more possibilities to drive value here than just through a traditional e-auction platform.
First up, we welcome Tim Grunow and Lukas Wawrla from Zurich-based startup Archlet to the podcast.
Leveraging E-Sourcing to Consider Non-Price Factors - Lukas Wawrla & Tim Grunow from ArchletArchlet began as a university project, and has since developed into a startup with over 30 employees, which recently secured $10 million in Series A funding to continue its path of impressive growth since inception in 2019. Tim explains how they grew quickly to learn about supporting a client on a packaging sourcing project during a university consulting assignment, and how this ultimately became the spin-off that then became Archlet.Why are companies still using Email and Excel, with so many e-sourcing tools already out there?Lukas argues that perhaps it's flexibility. The tools are not versatile, flexible or user-friendly enough to facilitate an end-to-end sourcing event completely within platform. At some point, sourcing managers get stuck or frustrated with the tool and revert back to form, which means going offline and using Excel to analyse the data from their tenders. We talk about re-thinking procurement tools starting with the user first and explore a great graphic that I came across when I was on Archlet's website, all about Procurement's digitalisation journey: If we consider e-sourcing, there are 5 stages: Stage 1 - 100% Email and Excel based Stage 2 - Supported by technology i.e. using an e-sourcing tool as a repository to collect bids or run e-auctions, but then the analysis and post-event requirements are typically done off platform; often then offline in Excel. Stage 3 - Optimisation: The ability to perform the end-to-end event, including supplier onboarding, event management, post-event analysis and negotiation completely within the e-sourcing platform Stage 4 - Guided Sourcing: How you could use the tool to create your scenarios to get to your desired outcomes faster? Leveraging external data as part of this to augment and complement the data in a sourcing event. Stage 5 - Autonomous Sourcing: Completely autonomous. Will we ever get there? This is the blue sky scenario!So, how can we avoid post-event deferment to Excel?Focusing on the USER as a key USP, instead of being driven by features and process. Many existing e-sourcing tools are seen as being process-centric. Archlet have focused on "consumerising" the approach. They see the key as being feature-rich enough to offer the value that other tools can't offer, but at the same time have user-friendliness and ease-of-use at the heart of the product. Their trick that they have up their sleeve is using external data sources from other third parties to add value to and enhance the e-sourcing data, enabling users to incorporate this into their supplier selection process during a sourcing event.Leveraging non-price and external data factors into the sourcing decisionTim and Lukas walk us through their strategy of having tools integrated into their platform that cover other non-price related aspects of an e-sourcing event. Archlet recently partnered with existing tech offered by Tealbook and Ecovadis for example, which can be integrated into their e-sourcing process and their data leveraged to add this into the native data that is returned as part of the e-sourcing event. The opportunity to have additional know-how that you don't necessarily have directly from your suppliers with the responses that they give.... | |||||||
| 30 Aug 2023 | Generative AI and B2B Searches – David Doyle from Forestreet | 00:34:35 | |||||
In this episode of The Procuretech Podcast, host James Meads talks to David Doyle, the co-founder and CEO of Forestreet. David, coming from a tech background, explains how he identified a problem in the technology market research industry and decided to create an independent platform that utilises data analytics to overcome cognitive constraints.
The conversation dives into the genesis of Forestreet and its aim to provide an unbiased perspective for buyers in the procurement space.
Generative AI and B2B Searches - David Doyle from ForestreetIn this episode, David delves into generative AI, explaining how it creates content from learned patterns in various media. He emphasise the importance of choosing the right tool for specific tasks when using generative AI. While it excels as an assistant for tasks like policy writing, and offering content suggestions, its limitations are evident when accuracy is crucial, such as in sustainability policies. The episode stresses that generative AI isn't a one-size-fits-all solution, advocating for a balanced approach by integrating it with other technologies. Notably useful in policy creation and idea generation, chat GPT showcases its role in crafting policy recommendations. However, the episode cautions against relying on generative AI for basic internet searches due to potential misinformation. David underscores the value of a modular approach, suggesting a blend of generative AI with other tools to maximise outcomes while acknowledging each tool's limitations. The episode concludes by highlighting the importance of discerning when to use generative AI effectively, tailored to specific tasks for optimal results. Timestamps: [00:02:10] Introducing David Doyle, CEO of Forestreet. [00:03:36] Information outside the enterprise. [00:08:01] Generative AI limitations and benefits. [00:10:44] Technology as an automation tool. [00:15:28] Excess capacity and space. [00:18:14] Deployment of new tools. [00:22:09] Data-driven decision making. [00:25:01] Changing procurement function architecture. [00:27:23] Business resource finding becoming urgent. [00:31:54] The strengths and limitations of generative AI. And that wraps up another episode of The Procuretech Podcast! Thanks to David for sharing his insights with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there. If you want to learn more about David Doyle, Forestreet, or Procurement Software, check out the useful links below.Stay in touch!
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| 10 May 2023 | Where is procurement tech headed? Solo episode with James Meads | 00:23:05 | |||||
Welcome back to series 4 of The Procuretech Podcast!
Join procurement content creator and consultant James Meads as he hosts weekly conversations with experts in the digital procurement space. With insights from thought leaders and news on the latest tech, we aim to excite and inspire you about the future of the industry.
Introduction to Series 4 – Solo Episode with James MeadsThis episode is something a bit different. A solo episode from James that serves as an introduction to the new series, as well as a chance to catch up on recent trends in the digital procurement marketplace. So what can you expect from the new series? 03.25 We're going to be concentrating predominantly on overcoming objections and ensuring successful outcomes. There are so many botched digital transformations out there. Tech is not a magic wand that solves problems on its own. So we're going to do more episodes on topics like change management, proposing a business case, influence and persuasion, and developing the right talent, so that implementation can be a success. 05.53 We'll also be touching on some of the big developments in the procurement tech ecosystem since our last series. Such as the acquisition of Coupa software that was announced back in December. What impact will this have on our industry at large? 07:25 Are ERP's days numbered? We'll look at how funding difficulties and the rise of millennials to leadership positions is driving change. Can the big suites keep up with a market that demands good UX? It's going to be an interesting battle, so watch this space! 11:32: Tech companies in emerging markets are well positioned to grow and disrupt. Look at Penny, setting a great example in Saudi Arabia and the Middle East. These solutions offer something really unique, so that's something we'll also be watching very closely. Check out this recent video interview with Muddasir Ahmed from SCM Dojo for more on this topic. 14:15 Best of breed solutions seem poised to keep poaching business from the legacy suites. As does anyone coming into the market with new technology. We've got a couple of episodes coming up with Raindrop on that topic. 15:56 Solution providers look set to keep evolving into SaaS providers. Trends in the gig economy point to procurement teams becoming smaller and more specialised. 16:57 We could see Sourcing-as-a-service come into play from some of the E-sourcing platforms. 18:00 And then last but not least, VC funding is going to continue to be tough for startups. We've kind of got to the point now that all of the early adopters of procurement tech, have adopted it. So we've stuttered a little bit on the growth of the bell-curve. This is going to be a big challenge for the industry going forwards. 20:16 And that rounds off the first episode of Series 4! Stay tuned for more interviews to come in the following weeks. This series is going be much more diverse in terms of guests. We're branching out from our traditional structure, where we invite guests on to talk about their software. We're still going to do those, but they're going to be less common sponsored episodes that will slot in every two or three weeks. Instead we're going to branch out into much more diverse content, aimed at a wider audience. As always, please subscribe to the show and leave us a review on Apple podcasts if you like what you hear. That really helps us to reach more people. We also have a monthly newsletter where we give a round-up of everything that's happening in the procurement tech space. Links below.Stay in touch!
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| 01 Jun 2022 | 10 Key Criteria to Consider when Buying Procurement Tech | 00:20:13 | |||||
This week we’re doing something a little bit different: A quick solo episode, bringing you ten key criteria to consider when sourcing a digital procurement solution.
This is something that seems surprisingly hard to come by in popular articles and white papers, so here are ten helpful factors to consider.
Let’s dive into the list…
10 Key Factors When Choosing A Procurement Solution1. CostThe main question here is which cost model does the solution use? Most digital procurement tools operate a Saas (software as a service model). These will either charge you an annual or monthly fee for unlimited users, or on a per-user basis. Some solutions offer a hybrid approach somewhere between these two, or use a more modular structure. Per-user pricing gets expensive very quickly if you need to keep adding users. You may sign up to something like this, thinking that it’s affordable, but then scale up to a point where the fees get out of hand. For established businesses this is obviously less of a concern.2. FeaturesI’m particularly talking about best of breeds here, rather than legacy suites. Less is more is the key thing here - do you want it to do one thing very well, or would you like something more versatile that offers a modular structure you can expand over time? If you’re laser focused on a specific problem, for example contract management, or supplier relationship management, you’ll want something that can do the job well. But these focused solutions obviously lack flexibility. A more versatile, modular solution can expand as your business does. It’s important to consider this with your end goal in mind - what do you want to get out of the software, and what will your needs look like down the line?3. ImplementationHow much time and resources will it take to implement a solution? Some of the bigger suites can take months to implement, not to mention an army of consultants in some cases! If you’re a mid market business with a limited amount of IT resources, then you need to be asking providers to give you estimates on the time and ease of implementation. How easy is it to connect to your existing systems, for example ERP? How open is the interface? Most modern best of breed solutions have APIs which should facilitate implementation, but be aware that ERP systems - especially older ones - may not have the kind of open ecosystem that modern tools have. If your solution is trying to communicate with these older ERP systems, then be sure to ask about this up front. Maybe ask for case studies to see how this integration works in real terms before you commit.4. User ExperienceHow easy is it to use - For you, for your stakeholders, and for your procurement practitioners? I’ve been in situations in my career where I’ve been given tools so complicated that even experienced procurement professionals don’t use them! If a tool creates extra work for your procurement team, or your suppliers, it might fall by the wayside. You want users to adopt new tech, and you want them to enjoy using it. If a tool becomes something users want to avoid, it’s not a fantastic tool in the first place. User experience is an often-overlooked factor, but I think it’s crucially important. Try to get a demo, or prior access before buying a piece of software - and try to check out how easy to use and accessible the key features for your business are.5. Customer SupportThis is especially important with startups, who may not have 24/7 customer support. If you’re in a different time zone, trying to get hold of a company who don’t have an external customer support team, you could be waiting a while to resolve your problem! Try to get a picture of exactly what customer support is on offer. Do they have their own employees? Will they give you a dedicated customer success team member as a point of contact? Or, what if it’s the worst case scenario | |||||||
| 27 Oct 2021 | Procurement Summit Live Sessions: Part 3 – Services Procurement Startups | 00:30:36 | |||||
We’re back with the final part of our 3-part series of live episodes recorded at Procurement Summit in Berlin on 29 and 30 September 2021.
Each podcast features a different theme, focusing on some of the newer, less well-known startups who pitched and exhibited during the summit. This final episode looks at 3 solutions out there who have doubled down on tackling the lucrative and under-served niche of digitsing services procurement.
ProspeumPhilip Rathjen joins me from Prospeum, a pretty new solution out there that has recently been launched. Philip explains that the idea came to him and his co-founders when they were working together in IT and they realised how much work goes into tenders, and what a manual, admin-heavy process it is to manage. This led them to ultimately go their own way and build Prospeum. Prospeum's features start with supplier scouting and vendor onboarding, and then moves through the complete sourcing process up to the point where a vendor is selected. Their focus is on the big ticket, complex services sourcing requirements in IT and marketing categories. It doesn't offer contract lifecycle management or SRM functionality: it is solely an e-sourcing platform. So, why not just use one of the established suites for this? Phil explains that the suites are often not just focused on e-sourcing and even those which do have strong e-sourcing modules tend to be a) difficult to use unless you've received a lot of training and b) usually designed with raw materials or commoditised goods in mind, meaning that none of the templates favour services. Sourcing nuanced, complex services is a whole different board game. Prospeum has a feature that enables pre-qualification of vendors before inviting them to an event, and then enables internal stakeholders and suppliers to collaborate on the platform. A welcome change to what usually happens, when stakeholders and suppliers just email you outside of the e-sourcing platform because they hate using it! Typical avatar customer for Prospeum? Any business with a large IT spend, typically the higher end of the mid-market towards enterprise level. Banking, financial services, insurance and high growth tech companies would be some examples that fall neatly into that category. Prospeum website Philip's LinkedIn profileApaduaThis one is a bit of an outlier because it's vendor funded. In other words, the suppliers pay to have a profile and a presence on Apadua rather than the buying organisation purchasing a SaaS subscription or a license to run the software. Here to tell us more about this unique approach is Gregory N. Vider, Apadua's Founder. Greg sees their strength as being "by procurement professionals, for procurement professionals", as both he and his co-founder Markus have a procurement background. Direct procurement is usually pretty strong in most companies, whereas indirect procurement and specifically services procurement usually lags behind in the maturity curve. This is especially applicable in smaller businesses, and as Greg explains, the platform can be used by SMEs with just a couple of million € spend, right the way up to enterprise level clients. The purpose of Apadua is to make services procurement free at the point of entry to buyers, while at the same time providing both sides with smart technology to create value together and build sustainable business relationships on an equal footing. But if your own incumbent vendors aren't on the platform, then what? You can also onboard your existing vendors onto the platform in plenty of time to run an RFP. Does Apadua have issues with getting vendors to pay to use the platform? Gregory argues that in industries such as... | |||||||
| 05 Jun 2024 | Is your procurement software the problem, or is it your organisation? | 00:20:28 | |||||
This week on The Procurement Software Podcast, host James Meads explores the challenges faced by organisations in adopting and utilising new software technologies.
James discusses an interesting article from The Guardian titled "Your Office Software Is Not the Problem, You Are," highlighting tensions around software usability and adaptability within large organisations.
Tune in as we explore these conflicting perspectives and provide insights on how both software providers and organisations can foster better software adoption and usability.
Is your procurement software the problem, or is it your organisation?In this episode, we discuss the critical role of user experience and ease of implementation in the success of procurement software solutions. Poor user experience, marked by clunky interfaces and difficult navigation, can hinder adoption and lead to implementation failures. Software companies must prioritise creating intuitive platforms. Additionally, the episode emphasises the importance of seamless implementation processes. Complex and lengthy setups deter user engagement. Effective software should be user-friendly from the start and require minimal training. We also highlight the necessity of robust communication, training, and onboarding strategies. Engaging users through various formats, explaining the benefits, and providing bite-sized training materials can significantly enhance adoption rates. Leaders play a crucial role by securing resources and advocating for budget allocation to support these initiatives. Prioritising these aspects can lead to a successful digital transformation within organisations.Timestamps:[00:01:52] Office software usability debate. [00:06:10] User-friendly software platforms. [00:12:15] Effective software training methods. [00:14:10] Digital transformation and procurement software. [00:17:28] Software implementation challenges. And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.Stay in touch!Grab your ticket to ProcureCon EU in Barcelona with 10% off!
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| 19 Jun 2024 | The 25 Hottest European Procurement Tech Startups | 00:38:00 | |||||
On this episode of The Procurement Software Podcast, host James Meads dives into the world of procurement tech startups. With over 440 solutions in our software directory over at app.procurementsoftware.site, we aim to educate procurement leaders on the vast array of software options available to them.
There's so much more out there than just the tired, legacy technology that seems to sponsor all of the conferences.
Highlighting 25 innovative European-based procurement startups, the episode provides valuable insights into emerging players who don't necessarily have the marketing presence and events budget of larger companies.
Tune in to discover how these startups are shaping the future of digital procurement.
The 25 Hottest European Procurement Tech StartupsIn this episode, we spotlight 25 of the hottest European procurement tech startups. We explore:
And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below. Stay in touch!Grab your ticket to ProcureCon EU in Barcelona with 10% off!
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| 20 Oct 2022 | Will Negotiation Bots Replace Humans? – Mark Raffan from Negotiations Ninja | 00:30:33 | |||||
Welcome back to The Procuretech Podcast!
We're continuing our mini series where we ask influencers and industry experts for their thoughts on everything that's happening in the digital procurement world.
This episode we're talking about negotiation. And there's no one more influential in the negotiation space than the host of the Negotiations Ninja Podcast himself, Mr. Mark Raffan.
Will Negotiation Bots Replace Humans? - Mark Raffan from Negotiations Ninja1:07 We open up by asking Mark about his background: From sales and online advertising to category manager, before finally transitioning to content creation and his own negotiation training business. 3:12 We discuss Mark's lengthy career in podcasting, now he's over 300 episodes deep. He reflects on some of his favourite episodes. He gives special mention to an interview with Brain Burns, in which it's safe to say they were not exactly aligned... 4:40 Going back to Mark's time working in Category Management, to what extent did he come across procurement technology back then? Mark mentions how common Coupa was back then, alongside niche players like Scout, which is now part of Workday. It's very interesting to see how tech has progressed and it's especially fascinating to Mark to see how the use of tech with negotiation has progressed. We move to talking about the future impact of tech, and Mark highlights process automation and error elimination as huge benefits. 8:17 We talk about how the mid-market is still slow to adopt digitisation. 10:06 Looking at big platforms like Coupa and Ariba, we're now seeing this sort of Salesforce model, where platforms put their own app stores in place. This is almost an admission that these big players can't be everything to everyone. Especially when looking to the mid-market, having a modular structure that allows users to cherry pick features is hugely important. 11:50 We discuss the value of experience. When an experienced professional with over 30 years of experience leaves an organisation, how much can technology hope to fill that gap? 12:47 To what extent can technology replace humans when it comes to negotiation? Does Mark think we'll ever see a robot able to replace humans when negotiating for something really complex and high end? 17:50 We take Grainger as an example. The whole reason Grainger exists is because a technical buyer or MRO category manager didn't have the time to spend all day doing three bids and a buyer for something that cost $5,000. AI can solve all sorts of problems- so as long as you've got a competent person evaluating the results to make sure that it's not doing something stupid from time to time. 18:43 Mark breaks down the present and future of automating negotiations. He doesn't think that truly complex negotiations can be carried out by bots yet. But he's keen to emphasise the word yet in that sentence. He would be very cautious about saying we'll never get there. Because technology is achieving things today that we'd have thought were totally impossible ten years ago. 21:45 Nobody knows the answer for sure. It's not unrealistic to expect that we'll be able to teach a robot to do very complex negotiations. But will we be able to teach them the emotional intelligence required to deal with cultural differences in negotiation between nationalities or between different cultures? That's going to be the most complex part for AI to replicate. 23:49 Mark runs a negotiation training business. How does advancing tech impact how he builds his long term business strategy? 26:02 Mark thinks it's very, very interesting to... | |||||||
| 22 Jun 2022 | Super Simple Category Strategies – Patrick Jonsson from DigiProcure | 00:24:57 | |||||
On this podcast, I’m proud that we take the time to talk to some of the more early stage companies operating in this space. And you don’t get much more early stage than just launched!
Our guest today is Patrick Jonsson from Digi Procure, whose recently launched company offers a low code / no code guided category strategy creation tool.
I welcome Patrick to the podcast and ask him to open up with a quick intro on his background.
Low code / no solutions in digital procurementPatrick explains how he doesn’t come from anything of a tech background. From his home in Sweden, he’s embarked on an international career - everywhere from South America to Denmark. The bulk career of this was in procurement for complex organisational setups: Lots of stakeholder management and getting different cultures to agree. Then about three years ago, he went into consulting, but then decided it was time to move into the digital procurement space. He found low code/no code solutions really interesting, and so following a low budget, bootstrap approach he launched a minimum viable product with his first solution, which only cost around 2000 dollars. There were some issues with his first customers, but in solving those he fell on what seemed to be needed: A solution for guided category strategy creation. Simplicity is Patrick’s keyword here. Digi Procure is a very simple tool that helps you get started with making category strategies. And with a low code platform, he aims to add further functionality and complexity over time. I say to Patrick that any SaaS solution will face the conundrum of functional complexity versus user experience. There’s not really a right or wrong answer here, and it can often come down to organisational maturity and complexity. I ask Patrick who he sees as the target users for Digi Procure. Is he aiming for large enterprises, or smaller businesses? Patrick thinks the answer is medium-sized and up. In his experience, many organisations struggle with making category strategies. You might get a consultant in and end up with a strategy that’s maybe 30-60 pages long, and these just end up on the shelf. Follow up on implementation might not ever get done. Then later you get a new CEO who wants to make some category strategies and you start the whole cycle again. So Patrick is aiming for what he calls ‘maturity level 2’ companies. By this he means companies who are starting to dabble in strategic sourcing. You need that maturity and you need a certain size - maybe two or three category managers, before it makes sense to use Digi Procure.Simple and accessible early strategy for medium-sized companiesI say that makes a lot of sense - we’re clearly not looking at greenfield here, as companies that young won’t have anything in place yet. But then the really big companies will probably want to go for that incredibly detailed kind of 60-page plan Patrick mentioned earlier. It’s really the medium-sized businesses that are just starting to dabble in category strategy who have the most to gain here. Patrick agrees. He goes on to say that you can go more complex, using Digi Procure, and he speaks to some experience with customers who have asked for deeper functionality. But that’s the great thing about low code / no code. It’s adaptable to an individual customer’s needs and particularities in a way that traditional SaaS solutions might struggle with. | |||||||
| 03 Oct 2024 | How much automation should we expect in procurement? | 00:28:31 | |||||
In this episode of The Procurement Software Podcast, host James Meads delves into the transformative impact of automation in procurement, focusing on how emerging technologies are reshaping the industry. Tune in to learn how these technologies, paired with critical human skills, can help you future-proof your career and enhance efficiency in your procurement processes. Automation's game-changing impact on procurement efficiencyThis week, James explores the transformative power of automation in procurement, focusing on how emerging technologies like AI, machine learning, and robotic process automation (RPA) are reshaping the field. He explains that while automation is taking over repetitive tasks, particularly in areas like Procure-to-Pay (P2P) and sourcing, it is also creating opportunities for procurement professionals to shift their focus to more strategic activities. James emphasises the importance of balancing automation with human skills, such as critical thinking and relationship building, which remain crucial for effective procurement. He also highlights how tools like generative AI are streamlining processes that once took hours, like drafting RFPs, making the procurement function more efficient. Additionally, James discusses how professionals can future-proof their careers by embracing these technologies while honing their interpersonal and strategic skills, ensuring they remain valuable in an increasingly automated landscape. Timestamps: [00:01:20] AI's impact on procurement roles. [00:04:08] Importance of interpersonal skills. [00:09:10] Generative AI in sourcing RFPs. [00:12:18] Automation in contract management. [00:16:22] Spend analytics automation improvements. [00:21:40] Automation in supplier relationship management. [00:25:24] Future-proofing procurement careers. And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.
Stay in touch!
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| 27 Mar 2024 | SAP Ariba and Coupa marketplaces: last ditch attempt or game changer? | 00:20:26 | |||||
This episode of The Procurement Software Podcast delves into the debate surrounding the marketplace functionalities introduced by SAP Ariba and Coupa.
Host James Meads discusses whether these launches are a desperate attempt to retain market share, or a very smart, strategic move.
Tune in to gain insights into the evolving landscape of procurement technology.
Will SAP Ariba and Coupa marketplaces be successful?This podcast episode examines SAP Ariba and Coupa's strategic use of marketplaces to maintain their market share amidst rising competition in the procurement tech sector. By integrating third-party applications, these platforms enhance customer retention, making it less appealing for users to switch to newer, more agile solutions. The marketplaces not only serve as a defence mechanism against customer defection due to factors like resistance to change and high switching costs. They also act as a new revenue stream, strengthening their business models. However, the appeal of these marketplaces might be limited for new companies starting their digital transformation, who may prefer more flexible and cost-effective solutions. The episode also discusses how partnerships and alliances between various point solutions could offer a more adaptable and tailored approach to procurement technology, presenting a viable alternative to traditional, monolithic platforms for companies seeking to optimise their procurement processes. Timestamps: [00:00:37] Big software suites debate. [00:05:30] Rise of best-of-breed solutions and impact on traditional suites [00:08:10] Marketplaces as superpower. [00:09:13] Marketplaces driving market leadership. [00:15:09] Modular suite-based products versus legacy platforms. [00:17:19] The future of marketplaces. And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.Stay in touch!Grab your ticket to ProcureCon EU in Barcelona with 10% off!
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| 29 Sep 2022 | Content and Community for Procurement – Daniel Barnes from Gatekeeper | 00:30:05 | |||||
Welcome back to The Procuretech Podcast!
We're continuing with our mini series where we ask influencers and industry experts for their thoughts and nuggets of advice on everything that's happening in the digital procurement world.
Content and Community for Procurement - Daniel Barnes from GatekeeperToday we've got a returning guest who was on the first series of the podcast way back in 2020. He's a man who needs no introduction. But we're going to give him one anyway.It’s procurement influencer Daniel Barnes, of World of Procurement and lately Gatekeeper.A quick catch up on the last few yearsIt was the very start of the COVID pandemic when we last spoke. So we kick off the podcast by asking Dan what he's been up to since then. A lot changed very quickly for Dan when the pandemic hit. He was working as a consultant in the defence space at the time, and COVID really impacted the pipeline of work in that space. From there, he pivoted to a FinTech firm where he worked for around 18 months. During that time he started looking into procurement tech and contract tech. In that role, he sourced and implemented a contract management product called Gatekeeper, then decided he wanted to join that company. Dan's got a legal background, including an undergraduate degree in commercial law. So the contract side of procurement comes naturally to him. He finds it fascinating, being able to hold his own against properly trained legal people like solicitors. He also felt like he could make a bigger impact at Gatekeeper - by showing off this kind of tech and educating people on the benefits of digital transformation. He's been in the role of Community Manager over at Gatekeeper since June. His job now involves shooting content on topics like contract and risk management, and also working with Gatekeeper to help better position the business. So that's lots of change in the last 6 months, let alone the last two years!Dan's experience working in FinTechWhen he joined the FinTech, Dan was the very last person to join the team. Everyone else was more focused on the supplier management side of things They had a CLM but it was basically just a repository that allows you to store metadata, and it didn't really do anything else. It was really painful to work with. It was probably just an Excel worksheet by the CMS, and then a user interface was slapped on top of it. Going into a FinTech space in a scale up environment was terrifying. Everything happens so fast. Dan realised that with all the admin workload, there was barely any time to any work that adds value. And the work was boring, too. It was just the most mundane stuff - stuff that you could have a virtual assistant do for pennies, anywhere else in the world. He felt like a very well paid admin assistant a lot of the time. And that's bizarre, especially for a tech business.Implementing GatekeeperThankfully, the company Dan was working for did get it. He managed to secure some investment to go out and find a solution that could change... | |||||||
| 20 Jul 2022 | 10 cool early stage European startups from Procurement Summit | 00:22:58 | |||||
It's the final episode of our second series. So to finish up, we're going to be doing something a little bit different.
This week we're bringing you 10 new startups for the price of one!
10 cool early stage European startups from Procurement SummitI recently attended Procurement Summit in Hamburg. It's a fun, pleasingly non-corporate showcase for new companies in the digital procurement space. Where else would you find a Mario Kart competition at a procurement conference? I saw loads of exciting new ideas there, and I'd like to share ten of the best new startups that caught my eye during the conference's pitch event.1. FlowcietyFlowciety won the startup pitch event this year, and with good reason. They're a Berlin-based startup, all about data exchange and process automation, across both internal departments and external third parties. This automation enables you to have a fully auditable trail, avoiding PDFs and emails in favour of realtime tracking. It also enables you to manage supply chain and inventory across, for example, a subcontracted part of an external process. Link to Flowciety website2. ShouldcostingThis Swiss-based startup aims to make companies more competitive by using their internal data more effectively. This is a really smart calculation tool that takes things from the bottom up. It's a data driven engine that estimates product prices based on CAD drawings, specifications and materials. It estimates the cost of raw materials and of cost changes per part, based on engineering changes during the new product development process, or on commodity price movements in our increasingly volatile world. It also calculates labour costs and provides advanced analytics and material grouping. Link to Shouldcosting website3. HivebuyHivebuy is a source to contract solution, strongly focused on process optimisation for small to medium sized businesses. The solution supports companies in budgeting, requesting and ordering services for their business. It also establishes better purchasing conditions for your business, through pooling of pricing on popular catalogues. Obviously this is quite market-dependant, and the company has a strong focus on Germany at the moment, but I'm told that they are looking to expand this scope. The software relies an intuitively designed approval process that link departments with a simple communication flow and approvals process. Control features offer a transparent dashboard for budget management per department. Hivebuy also offers supplier catalogues both externally and internally, along with contract management and repository as part of their more top end plans. It's a unique spin in a crowded niche, which I find very interesting. Link to Hivebuy website4. TrueLedgerThis startup from Zurich is a professional services platform focused on external workforce. According to their presentation, 30% of human capital is now external contractors, and this represents 42% of a company's spend on people, on average. As opposed to other external workforce platforms that focus on audit and legal compliance, these guys are very much focused on smart contracting as a way to reduce costs. TrueLedger offers many forms of control here: Time and materials contracts, cost ceilings, standard contracts, and risk sharing, across both blue collar and white collar. All of which flows through to automatic invoicing and ERP integration. Link to TrueLedger website5. Lhotse AnalyitcsLhotse are very much focused on industrial manufacturing companies, from the midmarket to enterprise. Because these are often low margin industries, it's crucial to have better data that creates measurable value. They... | |||||||
| 17 May 2023 | Key criteria when choosing a provider – Ward Karson from Raindrop | 00:29:47 | |||||
In this episode of the Procuretech Podcast, host James Meads is joined by Ward Karson, Chief Operating Officer of Raindrop – an enterprise spend management suite based in California.
They discuss the current trend for consolidation in the procurement tech space, what this means for the future, and how Raindrop plans to make some big waves.
Disrupting with Accessible Solutions – Ward Karson from RaindropIn light of the recent shock acquisition of Coupa, more mergers and acquisitions are likely on the way. Against this backdrop, how is Raindrop looking to disrupt and challenge the big players in the full-suite game? 0:02:49 History and background on Raindrop. Raindrop has been around for four years, and Ward has over 30 years of experience as a procurement practitioner. Raindrop's aim is to create an enterprise Procure-to-Pay (P2P) solution to compete with legacy tech. 0:04:19 Acquisitions and their impact on procurement tech. . In the past few weeks we've seen the acquisitions of Coupa, UBS, Credit Suisse, and the Silicon Valley Bank. This is a very interesting time, where organizations that are struggling may get acquired and consumed. As a result, expect the entire P2P space to be changing in the coming years. 0:06:10 Discussing the disparity between CRM and SRM uptake. Even small startups have CRM systems, and this is testament to the changes happening in the industry. So why don't companies use supplier relationship management systems, despite the fact that it would make sense for them to do so? 0:07:35 Addressing the growing SRM market and potential ERP acquisitions. 0:10:57 Predictions on the future of ERP. Ward draws on his experience working for Oracle and predicts that more traditional ERP providers are going to go out and acquire solutions, as opposed to developing them. 0:14:59 The true value of user-friendly solutions. Ease of use is incredibly important in any procurement tech solution. Not just from the perspective of accessibility. The real value is that it increases stakeholder adoption. 0:16:41 Exploring the pros and cons of legacy tech. Legacy tech in the P2P space doesn't exactly have a reputation for user-friendliness or accessibility. This is where there's space to disrupt. 0:22:11 Risk appetite and modular solutions. Modular solutions allow for fast strategic pivots and agile business practices. Monolithic legacy tech solutions can be so costly to implement that they present a serious risk to ROI. 0:23:48 The benefits of digitally native solutions. As Millennials rise to senior positions in the industry, it's unsurprising to hear that immediacy is becoming ever more valuable. Digitally native solutions represent the speed and ease that the market now demands. 0:24:49 Ward's advice for IT procurement managers: What to look for in a future-proof, modern procurement tech solution. And that wraps up another episode of the Procuretech Podcast! Thanks to Ward for sharing his insights with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Ward, Raindrop, or Procurement Software, check out the useful links below.Stay in touch!
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| 11 Dec 2024 | Disruptive Spend & Carbon Analytics - Richard Brown from Anvil Analytical | 00:34:10 | |||||
In this episode of The Procurement Software Podcast, host James Meads welcomes Richard Brown from Anvil Analytical to discuss the transformative power of spend analytics in procurement. The conversation explores the evolution of spend analytics technology, highlighting the advancements from previous years and discussing practical applications that can help organisations operate faster, better, and smarter. Tune in to learn how these developments are reshaping the procurement profession and the tools available to help organisations embrace change. Disruptive Spend Analytics and Carbon AnalyticsThis week, Richard sheds light on the growing importance of spend analytics tools, particularly when integrated with consultancy services. This winning combo can optimise procurement strategies across every industry. He highlights how this combination delivers both immediate insights and ongoing value, meeting the evolving demands of procurement professionals. Richard emphasises the critical role of visibility in spending patterns, enabling organisations to identify cost-saving opportunities, negotiate better supplier terms, and make informed decisions. He explains how tools equipped with advanced AI and large language models (LLMs) revolutionise data handling—turning unstructured data, like invoices in multiple languages, into actionable insights. A key insight is the shift from traditional consultancy to integrated solutions. With tools such as Anvil that extend beyond short-term projects, it's helped their parent company 4C to now offer long-term partnerships, fostering trust and collaboration over a longer period. Richard also explores Anvil’s approach to democratising analytics for SMEs, providing cost-effective solutions that meet their unique needs while building sustainable client relationships. This adaptability empowers smaller organisations to unlock the benefits of advanced spend analytics, but without overwhelming their existing processes. By integrating cutting-edge technology with tailored consultancy services, Richard demonstrates how spend analytics can drive immediate value and establish a foundation for long-term success in the dynamic procurement landscape. Timestamps:[00:01:10] Spend analytics in procurement. [00:05:22] Customer demographics in procurement services. [00:09:44] Accelerated sector entry with LLMs. [00:10:36] Unstructured data processing solutions. [00:15:08] Revenue stability through technology. [00:20:00] SME analytics pricing model. [00:22:23] Customer acquisition through procurement tech. [00:24:25] Carbon accuracy pyramid challenges. [00:29:50] Long-term carbon reduction partnerships. And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below.
Stay in touch!
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| 08 Nov 2023 | How to modernise procurement for the mid-market? – Hans Boot from PEG | 00:37:07 | |||||
In this episode of The Procuretech Podcast, host James Meads explores the digitisation challenges faced by mid-market companies with guest Hans Boot, a partner from consulting firm Durch Denken Vorne, specialising in this sector.
They discuss their experiences working with small and mid-sized companies in Austria, Switzerland, and Germany. They touch on topics like organisational development, digitisation of processes, indirect costs, and risk management.
Tune in to gain insights on navigating the digitisation journey in the mid-market procurement space.
Procurement transformation challenges in the mid-marketThis episode focuses on the challenges of digitising procurement in mid-sized companies. Hans Boot is from Durch Denken Vorne. They are a German procurement consultancy which is part of a wider alliance callled Procurement Excellence Group. Hans highlights that many mid-sized firms still rely on manual, outdated methods for procurement, particularly in areas like supplier management, risk management, and sustainability. The episode stresses the importance of analysing and improving procurement processes, contrasting them with the more professional and modern practices of larger companies. Additionally, it advocates for giving operational procurement employees the chance to engage in strategic tasks, emphasising mindset over skills. The episode addresses the difficulties in finding experienced individuals in the job market and suggests investing in training and coaching for existing employees as a long-term solution. Ultimately, it underscores the need for a mindset shift to foster a more strategic procurement function within mid-sized companies. Timestamps: [00:02:04] Introducing Hans Boot of Durch Denken Vorne [00:05:47] German business culture challenges. [00:08:22] Thinking long-term vs. short-term. [00:13:01] Analysing procurement departments. [00:17:10] Traditional companies in Europe. [00:21:10] Giving time for strategic tasks. [00:26:04] Operational buyers adopting a more strategic mindset. [00:30:13] Adoption of digital software in procurement. [00:34:02] The importance of procurement to these organisations. And that wraps up another episode of The Procuretech Podcast! Thanks to Hans for sharing his insights with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Hans Boot, Durch Denken Vorne or Procurement Software, check out the useful links below.Stay in touch!
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| 08 Apr 2020 | Deep Diving into Analytics – Eddie McGeachie from Seaforth Analytics | 00:36:22 | |||||
Eddie McGeachie from Seaforth Analytics and Accelerated Insight joins me on The Procuretech Podcast today to discuss how data and supply chain analytics have shaped his career over the years.
We dive into how his company now helps boutique procurement consultancies and direct clients to understand the data from disparate systems and formats, and how understanding data .
I've long been a proponent of getting your data ducks in a row, so this was one long, golden nugget of an interview for me. So much so that I just let Eddie keep dropping bombs of value, and even after a fair bit of editing I was still about 10 minutes over our usual episode length!
Warning: If you're not a native English speaker, you might have to listen slowly to understand Eddie's Glaswegian accent - it's a tough dialect! - but you will get TONS to ponder after listening to this.
Agile Analytics: How Seaforth Analytics' solutions deliver cost modelling and savings across diverse sectors1:45 Eddie explains how his long and successful career eventually led him to the Supply Chain Analytics space. 5:32 Good fortune allowed Eddie to be in a job where he was given the freedom to work 25% of his time on passion projects. Learn what he decided to work on. 7:08 Getting the basics in place first. I offer up 3 fundamentals of what every procurement department should get in order and then ask Eddie for his take. His answer was not what I expected: surprising but very insightful. 9:10 Eddie explains the importance of procurement and supply chain having a presence at the top table, both to increase influence and to be seen as a value driver rather than an overhead. 11:29 Why being able to understand the same language that all stakeholders speak and being able to "get" where each department or affected party is coming from is vital 14:00 Eddie explains the value of finding the pivotal person in any organisation at the beginning. The person who understands at source what data and queries can be pulled from the existing systems in place. Usually, he mentions, they don't sit in procurement. 17:03 I ask who are Seaforth's client base typically and what different type of products and services are on offer. 17:58 Is the analysis performed a one-off exercise, or can they integrate with existing ERP systems? 19:10 How the Accelerated Insight tool brought together 150 disparate files on one procurement transformation project, and why having the data on its own is not enough. You need to understand what the data is actually telling you. 20:58 We discuss the bane of free text POs and how to make the best of a bad situation with imperfect data. Eddie provides an example of how this led to spotting a valuable irregularity, or can also be used to spot patterns of potential fraudulent transactions. 26:30 I ask whether there are specific categories which are better suited to their tools and analytics. 28:20 How price anomalies can be easily exposed from the analytics they can run, without the need to manually check invoices at first. 29:35 We discuss whether these findings can apply to direct or indirect materials alike. 31:34 Why Eddie believes that data science techniques and fundamentals should possibly be part of the CIPS qualification or at least general procurement onboarding training in large corporates. How can you get in touch with Eddie? | |||||||
| 13 Oct 2022 | From CPO to Advising Startups – Joanna Martinez from Supply Chain Advisors | 00:26:48 | |||||
Welcome back to The Procuretech Podcast!
We're continuing our mini series where we ask influencers and industry experts for their thoughts on everything that's happening in the digital procurement world.
Today's guest is a former CEO, CPO and published author. She's also an advisory board member to two very rapidly growing startups.
From CPO to Advising Startups - Joanna Martinez from Supply Chain AdvisorsHer mission is to help individuals and businesses understand technology, improve processes and align with stakeholders. That's the Holy Grail, isn't it? Let's welcome Joanna Martinez to the podcast, and kick off our chat with a quick recap on her background.Joanna Martinez – A brief backgroundJoanna is an engineer by profession. She spent the first third of her career in supply chain roles for Johnson and Johnson. It's a very very diversified company that gives a lot of autonomy to its different units. So this gave her the chance with everything, from a very rigid, rules-based, process-oriented unit to one that was very much like a startup. This was a great opportunity for learning. And makes great advice for anyone starting their career – pick a company that's going to offer you a broad range of experience. Joanna did a stint in procurement, and loved it. She decided that she wanted to focus on helping companies that didn't have the kinds of resources that Johnson and Johnson had to create a purchasing organisation: Working for firms where she would either create a procurement organisation, or fix a broken one. Twice in the subsequent years, she walked into roles that were vacant because the predecessor went out in handcuffs! That becomes a very interesting stakeholder engagement learning experience. And it was a fascinating look into how hard it can be to keep track of data when it comes to audits.The importance of procurement technologyJoanna's last role as a CPO involved a global company with a corporate stand that was very modest, but they had billions of dollars of client spend that they were processing but not really managing. Technology was really important there. It allowed that company to differentiate itself against the competition. It wasn't the largest supplier in that space. But they could go forward with what they had: Subject matter experts, the right kind of supplier relationships, a platform that clients could use. Also Joanna had a really good CEO, who was willing to rethink the kinds of agreements he had in place. That was a huge enabler. In fact, people would say, “What's your most important supplier?” and Joanna would name a technology provider. Having a platform that was easy for clients to understand was hugely helpful. It allowed them to feel comfortable that Joanna was doing a good job on their behalf.What drives positive disruption?Joanna wrote a book called A Guide to Positive Disruption. It's about change management and disruption and making sure that change gets adopted within the workplace. | |||||||
| 23 Mar 2022 | Know Your Supplier: Full Stack SRM – Sam Jenks from Kodiak Hub | 00:31:30 | |||||
As procurement pros, we're feeling the heat a lot right now dealing with problems of a reactive nature. We're having to fight to secure supply and deal with crisis management with increasing frequency.
Moving to a more predictive form of supplier relationship management (SRM), while at the same time handling the transactional and compliance part of the requirements is what my guest, Sam Jenks, CMO of Kodiak Hub, is here to talk about today.
Full Stack SRM: The case for "Know Your Supplier" with due diligence and risk monitoringWhat started off as Kodiak Rating in 2015 recently rebranded to Kodiak Hub back in September last year. Part of this was the wider evolution of their platform from being primarily a compliance and controls platform to what has now become a full SRM tool, both on the predictive / market intel side as well as on the more traditional audit and reports side. As Sam explains, this was more of an evolutionary rather than a revolutionary process. Customers needed a platform that could expand into other areas of SRM other than the compliance piece, and Kodiak walked with them on their journey and built out their platform to evolve into what it is today. Onboarding and assessment was the core feature, but this has since expanded to cover:
How has the evolution affected their customer base?Primary customers have moved to be slightly larger than previously, but they have maintained to a large extent a customer base which is predominantly manufacturing businesses with a large spend on raw materials. The industry sectors have remained pretty consistent along their journey but they are now seeing more success acquiring customers more positioned towards the enterprise segment. Whereas previously, most of their business was coming from the mid market.Breaking down SRM: tactical and strategicHow can this experience be improved and optimised within a digital platform, based on what Kodiak Hub has built?Tactical:Supplier onboarding, compliance checks and audit - removing manual data entry and ensuring that the data gathering piece can be automated to the greatest possible extent. Supplier pre-qualification and onboarding also requires the supplier to be actively engaged and to find the process intuitive. Industry or customer specific content around supplier onboarding has been built into the platform to avoid Weighting and KPIs can be modelled based on customers' individual criteria.Strategic:Collaboration space - having an interactive platform which can be used either for corrective actions, or for innovation focused activities. Looking at innovative activities, this is more based on project management or more strategic activities such as joint R&D. Performance evaluation - removing the "Excel hell" from the process and having 6 different standard areas for performance. Everyone's needs when it comes to performance are different, depending on what they are buying and the industry sector they are in.Predictive analytics:While there are a lot of stand alone best-of-breed solutions out there offering individual solutions - e.g. news monitoring, financial risk, traceability - Kodiak has tried to bring this all under one umbrella. Their approach is to partner with third party solutions providers who can do all of this in one platform rather than try to build out their own proprietary technology for everything to try to compete with the single-solution software providers.What makes Kodiak different from all-in-one suites which have SRM platforms?Sam highlights the fact that a lot of the suites are not user friendly and there is a lot of legacy technology out there with some of the traditional suites. He also mentions that through their approach... | |||||||
| 15 Jun 2022 | Single Master Data Source of Truth – Costas Xyloyiannis from HICX | 00:29:00 | |||||
This week, we're going to be talking again about that little devil that keeps cropping up - data.
I'm speaking to Costas Xyloyiannis, CEO of HICX, a company that takes a slightly different approach to data. Today we’re talking about what he thinks is the safest way to get clean data in your organisation.
Before we dive into the specifics of what makes his approach to data so different, I start off by asking Costas to explain Hicx in a nutshell.
HICX - A different way to handle dataCostas explains that HICX is in the business of supplier experience management. Supplier experience, for Costas, equals data. The end state isn’t just that data - there are value drivers after that too - but data is the foundation of supplier experience management: Better data means better experience, and a better experience in turn yields better data. It’s a flywheel value effect for both sides. I ask how this differs from other solutions that take the approach of automatically gathering data using scraping techniques or AI. Costas gives a few differences here. Number one, what is the customer trying to solve? A lot of his customers want the right data in their systems. What you tend to find is that when you pull data out, clean it, change it, what you find is that you can never put it back into those systems. The data will have changed. So this is a very high risk, unsustainable approach. But this is the way most people have done it traditionally. HICX puts processes in place which control how data is entered into those systems. The supplier is the source of truth, so why not optimise the process of collecting data from suppliers? Only then does HICX apply automation to enrich that data.Customer experience and strategic sourcingI ask Costas to clarify that he is using some degree of automation, but the fundamental difference is that he’s relying on the supplier to provide the core master data. He says this is correct. He then goes on to speak to customer demand. Customers need a very granular view of their suppliers. If you’re looking at, for example, a process around manufacturing that has to take place at your supplier’s facility, most other sources don’t explain the things customers want to know: What is the parent legal entity, for example? These factors change how data and business processes are managed. I bring up vendor master data. We often think about this wrongly: “What data do we need in the system to pay the supplier?”. But in something like manufacturing, food or automotive where you’ve got health and safety requirements that are important to the qualification process, there has to be some way of distinguishing the supplier experience and on-boarding process. If you’re using a tool that automatically cleanses data, it’s not going to know how strategically critical a supplier will be to you. Costas agrees. He also says that context of how you use data is important. It could be the address of a supplier, it could be a payment address… When you’re cleansing you don’t know these things. Costas thinks that this is where customers need help: Who is the parent entity? Is this supplier part of the same legal entity? What is this address? How does it all fit together? This is what customers need to understand to a high degree of accuracy. He goes on to talk about the importance of being clear on your use case. If your use case is highly analytical, then using | |||||||
| 12 Aug 2020 | Automating Tail Spend Sourcing – Kevin Frechette from Fairmarkit | 00:38:01 | |||||
Tail spend is a huge, untapped opportunity that you're probably not exploiting to its full potential.
If you're following the 80/20 rule, then managing the tail isn't going to be a key priority when it comes to resource allocation.
Meaning a lot of opportunity goes to waste. Especially if headcount is being cut and procurement teams are having to deal with bigger workloads.
My guest this week is Kevin Frechette, CEO and Co-Founder of Fairmarkit, who were recently recognised by Gartner as one of their "4 Cool Vendors" in the procurement tech space.
I also recently wrote a piece for Fairmarkit's blog all about leveraging tail spend in a recession, if anyone is interested to read my thoughts there!
Strategies for Dealing with your Tail: How AI-powered Automation fits into the Mix2:20 In light of their recognition by Gartner as one of 4 “cool vendors”, I asked Kevin what in his view makes a vendor cool. 4:44 Kevin explains how Fairmarkit came into the space of offering tail spend solutions. It’s an interesting story that shows a great example of pivoting what their initial idea was, to actually offering what the market is asking for to solve a specific challenge that kept cropping up in their discussions. 7:10 Kevin walks through the business case of why tail spend is a great untapped opportunity, and how a lot of the existing procuretech solutions were not addressing this as an opportunity. 8:20 We walk through some of the reasons why there is so much cash left on the table when it comes to tail spend and why organisations often overlook this as a valuable source of cost savings. 9:28 Is there a justification to allocate procurement resource to tail spend? If you can’t add headcount, especially under these economic circumstances, then how do you decide what to tackle and what not to? And for what you’re not tackling, what opportunity does this then offer to technology as a solution? 11:20 What actually constitutes tail spend? Is there a single definition? And what about services as well as goods? 14:13 What are the advantages of using a tech solution such as Fairmarkit vs. just leveraging other non-technical solutions such as BPO, catalogues, MRO and FM integrators and Group Purchasing Organisations? 18:16 We explore finding where the "sweet spot” is between value of purchase order and available resources in procurement teams to be able to leverage a tech solution like Fairmarkit to drive value and reduce sourcing cycle time of tail spend items. Kevin then walks through an example of how the process would then work when running a sourcing request through Fairmarkit. 20:50 Dealing with data quality and how Fairmarkit can manage non-perfect descriptions of what requisitioners are trying to source. Kevin explains how machine learning will improve the ability to work with imperfect data as the amount of requisitions Fairmarkit processes continues to increase. 26:26 We discuss Fairmarkit’s strategy of moving beyond just tail spend to offer a more end-to-end solution, and what the driving factors behind it were. 28:02 Kevin explains the concept of “intelligent sourcing”, and how data and automation can be leveraged to streamline and optimise the sourcing process. 30:32 Are clients using the productivity gains achieved through using the tool to redeploy FTEs onto more strategic procurement activity? Or are they just using the benefits to reduce procurement headcount? 34:01 A final example given by Kevin focuses on the concept of sourcing smarter. How to connect with Kevin: Kevin's LinkedIn profile | |||||||
| 01 Jul 2020 | Automating Accounts Payable – Veekshith C. Rai from Finly | 00:26:41 | |||||
Accounts payable issues are something that we as procurement professionals shouldn't really need to get involved in but inevitably we do. In these instances, our role is usually the equivalent of a fire extinguisher. It performs no added value and very rarely do we receive any recognition for it.
So why does it land in our inbox?
Because, well, where does the buck stop when the supplier hasn't been paid or invoices have been lost? Yup, that's right. If we own the vendor relationship, then you can bet your bottom dollar that we'll hear about it when AP are underperforming.
There are lots of reasons why this happens. Broken processes, poor onboarding of new staff, reliance on sending invoices by post or email, as well as high attrition rates within AP teams can all lead to a less than optimal process.
My guest on today's show walks us through how automation can lead to productivity gains of up to 70% and redeployment of staff from administrative processes to more analytical work.
This is a great example of how developing countries have leapfrogged us in the West to come up with a truly remarkable solution, and that innovation is everywhere.
Automating Accounts Payable: Veekshith C. Rai on how to eliminate human error and non-value added admin
3:10
Veekshith walks through the 5 main areas that a CFO typically needs to cover off, and how Finly has contributed to automating these.
4:21
Why did Finly decide to include a procurement module? Learn how non-PO spend is much more common within Indian companies and how they were able to adapt a solution to accommodate this.
8:09
Veekshith talks about how automation can increase departmental productivity by ca. 70% and that smart companies can redelpoy the headcount saved through this to more added value tasks.
12:09
We talk about specifically the procurement modules and whether these can be used as stand-alone options without the need for ERP integration, and the pros and cons of doing this.
15:26
Because procurement teams typically don't have an IT or capex budget, persuading the business to invest in procuretech is usually a laborious and difficult task. Especially if there are no guaranteed P&L savings. I ask Veekshith his thoughts on whether selling directly to CFOs (because this is predominantly a finance tool) is easier than going through procurement. His answer is super interesting and also gives an insight into how corporate structure and governance in India is different
19:24
I ask Veekshith about his plans to conquer the US and European market and he explains some of the challenges of making this a reality. His answer was startling and was a huge eye-opener of how far behind our banking systems are in more mature markets vs. more innovative players in emerging economies.
21:58
This is a competitive space, and there is no one-size-fits-all solution. I therefore ask Veekshith as a final question what he sees as Finly's USP, especially in light of their plans to enter more competitive markets.
How to connect with Veekshith:
Finly website
Veekshith's LinkedIn Profile
Veekshith's Twitter Account
Stay in touch!
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| 10 Jun 2020 | Ensuring Digital Transformation Succeeds – Karthik Rama is the Procurement Doctor | 00:33:41 | |||||
We've often spoken about different software solutions and certain, specific areas of the Procurement flight deck which can be automated or digitised. Here, we're taking a step back and looking more holistically at dissecting a project from the conception, right the way through to after installation and commissioning has been completed and managing the performance of the vendor throughout the duration of the contract.
Sourcing a vendor, contracting with them, and then actually orchestrating an enterprise level digital transformation in procurement is no easy task.
My guest on this episode, Karthik Rama, who goes by the pseudonym "Procurement Doctor", has done this several times and shares his knowledge with us around what to consider when, and what the most common pitfalls are for the uninitiated.
Dissecting a Digital Transformation – Karthik Rama is the Procurement Doctor2:15 Karthik explains his unique skill set and how this has served him well when being able to communicate with both procurement and technical / IT stakeholders. 3:00 Assuming procurement has the ownership of this initiative, then at what point should the project manager involve IT and start building relationships with the function? 4:45 How to go about understanding the marketplace. With all of the market intelligence out there, is there a still a need to do an RFI? 8:04 We discuss organisational maturity and how this is such a key factor to the success or failure of a procurement digital transformation 9:23 How to tackle the obvious problem that no buyer is likely to be an expert on this type of software, unless they're coming from an organisation which has already implemented procuretech. 11:15 The most common mistakes made during the RFP / vendor selection phase, and how to avoid making them! 14:32 Karthik shares his experiences of how open SaaS vendors are to negotiation during the contract process? 15:58 The vital importance of having an A player heading up the implementation of a digital transformation, as opposed to somebody who just has the bandwidth from a workload perspective. Karthik also shares a nugget of advice around which role specifically could be the best person to lead the implementation. 18:55 What works best in terms of mix when it comes to outsourcing certain aspects of a complex implementation to consultants, versus which functions or aspects of the project are better retained in-house? 20:57 Potential issues or watch-outs which could be lurking out there post-implementation and why hypercare period is key to ensure a successful handover. 24:33 When the project has been handed over, how does the day-to-day governance work from that point onwards? What happens when there are issues? Which ones has Karthik seen most frequently? 27:28 Typical contact periods, and pros and cons of going for shorter or longer agreements. 29:23 How to connect with Karthik: Karthik's LinkedIn profileStay in touch!
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| 01 Dec 2021 | Affordable, easy to use E-Sourcing and Auctions – Nicholas Martin from Market Dojo | 00:25:30 | |||||
A tool that's easy to use and affordable, but also very versatile in terms of what it can do and the add-ons that go with it.
We continue our mini-series of e-sourcing solutions today with Market Dojo.
They've grown a feature rich e-sourcing tool that is offered as a simple, pay monthly software but also comes with many different additional modules to complement the core RFx / e-auction software on offer.
I spoke to one of their Co-Founders, Nic Martin, to discuss what brought them this far, and what their plans are for the future.
Combining ease-of-use with flexible contracts and plenty of additional modules - Nic Martin from Market DojoMarket Dojo has a wide range of customers - from consultants through to SMEs and larger businesses. They see their flexible pricing model as one of their strengths, essentially enabling anyone to use their software on a pay-as-you-go basis. This opens up the tool to independent consultants, small businesses and growing startups, as well as their more established customer base. Part of the Market Dojo philosophy has been studying a lot of the B2C marketplaces, the most obvious being Amazon, and trying to emulate as much as possible their interface, simplicity and general user experience.How important is UX?The challenge of receiving customer feedback over the years has meant that it requires a balance of deciding what is really needed vs. what are nice-to-haves. Keeping users happy while maintaining a solution that is easy and intuitive to use has been key in balancing how to incorporate new features into the product.What different types of auctions and RFx are available?
How do they avoid the trap of trying to be everything to everyone?Figuring out in the early days to understand WHAT features to pitch to WHICH type of customers has helped Market Dojo to learn and grow, and also to decide which features to prioritise. Some aspects of the tool may be more valuable to some users than others. For example, an independent consultant may place a lot of value on a choice of different types of e-auctions, whereas an SME or growing startup would need a lot more hand holding when it comes to running events, and perhaps appreciate simplicity and an intuitive UX a lot more. Niching down is a great marketing theory in principle, but they found that they were winning customers in quite different industries and niches during their early days. Market Dojo has since seen e-auctions run on such diverse categories of spend as global freight, purchased parts and fruit & vegetables, so versatility and offering a solution that can be used in a variety of different industries has been a difficult but possible balance to achieve.Maturing from a pure play e-Sourcing tool to a more rounded solutionTaking on board customer feedback was a key factor in instigating Market Dojo to develop additional modules as they have grown from being a pure play e-Sourcing solution into evolving into more of a mini-suite. An example is with the supplier onboarding tool, which was developed based on a request that was made from one of their early customers. One of their biggest challenges was with supplier intake, and they recognised that Market Dojo would be a good solution for this if they could expand beyond just the sourcing module. Whereas on the other hand, some customer requests were seen not to be aligned with their overall vision and direction, and instead led them to seek out partners who could offer such a solution as a best-of-breed solution that could be integrated with Market Dojo's... | |||||||
| 31 Oct 2022 | Risk Management, Tech and Resilience – David Loseby from Leeds Uni Business School | 00:25:52 | |||||
Welcome back to The Procuretech Podcast!
We're continuing our mini series where we ask industry experts and influencers about everything happening in the digital procurement world.
Risk Management, Tech and Resilience - David Loseby from Leeds Uni Business SchoolToday we're tackling a big Elephant in the room that everyone's got their eye on right now: The world of third party risk management. My guest today is David Loseby. He’s a former CPO of Rolls Royce, a consultant, and is now moving into the academic field. David is one professor who definitely has the real life experience to back up what he teaches! 01:40 We open up with a brief rundown of David’s background: An eclectic blend of the practical and academic. His drive is to bring more research impact into business. 03:27 As someone who’s currently structuring courses, how does David think the syllabus has changed in the last 10 years? Does the rise of tech impact the teaching process? 09:39: We discuss the challenges of risk management. With a staggering complexity of unique challenges to every geography, no-one can be expected to model risk accurately on their own. It’s simply not humanly possible. This is why we need collaborative single sources of truth. 11:41 The value of digital platforms in managing non-strategic spend, and how this relates to risk management. 14:35 The impact of black swan events, and how even with lots of data there are some risks that you just can’t predict. 16:23 There are two parts to the tehc ecosystem around third party risk management: Material traceability and substainability, and pre-empting risk with intelligence. 18:00 The critical importance of the SME population. 19:08 Licenses and onboarding packages for SMEs interacting with large enterprises. 21:31 Does David think that some tech platforms may grow a consultancy arm to manage tail spend on behalf of mid-market businesses? 23:19 David likens committing to procurement tech to a marriage. It’s an interesting metaphor, but one that makes quite a lot of sense. 24:39 That’s all for today’s episode. Many thanks to David for sharing his insights, and if you want to learn more or connect with us here at the Procuretech Podcast you’ll find all the links you need below. Thanks for listening, and we’ll catch you next time!Stay in touch!
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We're diving in again to the ever-expanding contract management space this week, looking at a piece of software that straddles the murky waters between procuretech and legaltech.
Redlining and amending contracts is a boring and tedious process to most procurement professionals, but a necessary evil that comes with the territory for commercial contract negotiations post-sourcing and award.
My guest this week to break down how technology can get us to our destination faster is Dan Broderick, CEO and Co-Founder of Washington DC-based legaltech start-up BlackBoiler.
Utilising AI to speed up and simplify your contract clause redlining processI start off by asking Dan about who he typically sees as being the customer's job title in the roles that they sell to, with this being a more legal-focused solution, and to what extent Procurement features in this. We then move on to some of the key features that BlackBoiler offers to set the scene of what it can actually do to aid us as procurement professionals to speed up an otherwise cumbersome and tedious task.What is Black Boiler's sweet spot?There's a lot of contract management software now on the market and it's becoming an increasingly crowded space. Dan sees BlackBoiler's sweet spot as being a contract negotiation automation software that helps customer and supplier get to the point of a mutually acceptable negotiated position on contracts, through the use of automation on changes to standard contract copy. This can be applied on both native contracts and third party documents. Both Legal and Procurement alike are seen to Dan as being potential "buyers" in this space. Also Sales to some extent are involved in the conversation because they're often struggling to conclude contracts fast enough to satisfy customer expectations.What inspired Dan to found BlackBoiler?As a lawyer, he found that he was often tasked with negotiating contracts that were very similar, and was responding to very similar counter-party positions and redline in these documents. After getting the feeling that his work felt more than a touch robotic, it made him realise that a significant part of his job could potentially be automated to free up time and to speed up the process.Are the must-have features different when viewed from a sales, procurement or legal perspective?YES! Dan explains that the key challenges tend to be:
How to bridge the gap between AI, and the professional expertise of the lawyer?Dan explains that BlackBoiler (or indeed any AI-powered solution for that matter) is not designed to work on its own. The objective is to speed up the process and enable arrival at the destination faster, not to eliminate Legal from the process completely. Helping the legal counsel to become more efficient and free up their resources to work more strategically is the overarching objective. By enabling them to not be actively involved in fairly routine higher volume, lower risk agreements will add value to both Procurement and Legal alike. Dan likens this to using a junior counsel rather than a highly experienced legal professional for more routine agreements.What about greenfield or decentralised procurement with no standard contract templates?This is an area where it's difficult to apply the typical solution that BlackBoiler would go in and solve. Dan mentions that they're currently working on building something that will enable new or less structured procurement teams to go in and generate some... | |||||||
| 10 Jul 2024 | How to Transition to a Role in Procuretech – Andrew Daley from EdburyDaley | 00:26:57 | |||||
In this episode of the Procurement Software Podcast, we welcome back Andrew Daly, a partner at specialist recruitment firm Edbury Daley.
Andrew previously joined us on Episode 11 back in May to discuss digital skills. Today, we delve into how procurement professionals can transition into careers in procurement technology.
Many procurement pros feel burnt out. So, let's explore how you can leverage your skills in a less stressful, and probably more rewarding role within the procurement tech space.
Andrew emphasises the importance of educating oneself about digital tools and becoming a "super user" to stand out to potential employers. He also highlights the value of transferable skills such as relationship management, commercial acumen, and an entrepreneurial mindset.
We discuss the types of roles that might suit different personality traits, from customer success and sales to product management and implementation. Andrew notes that while younger professionals in their late 20s to early 30s might find it easier to make this transition, mindset and adaptability are crucial at any age.
We also touch on the potential risks and rewards of joining a startup versus a more established company. Andrew advises doing thorough due diligence on any prospective employer, especially in terms of leadership credibility and company culture.
Episode Timestamps02 Mar 2022 | Blockchain and Contract Management – Dr. Elena Mechik from Inhubber | 00:29:12 | | ||||
Kicking off this week with the first of a number of interviews we'll be doing over the next couple of months with contract management platforms. This is a rapidly expanding area and it's gone from simply being repositories and authorisation / signature software into becoming a very diverse ecosystem over the past few years. My guest today is Elena Mechik of Berlin-based startup Inhubber, which offers a blockchain-based solution for contract management and tracking. Blockchain and its use in Contract Management for Procurement and Supply ChainI have to admit that I was very ignorant about blockchain and its multitude of potential different uses and applications until I started digging into this topic. If you think "it's just something to do with Bitcoin", then think again! End-to-end encryption of contracts: Why is it important?Elena explains that the way you track and store contracts should be treated the same way as you store money. With increasing risk of phishing and cyberattacks, it's important you understand, track and trace your contract management activities. Contracts are encrypted from user-to-user with Inhubber, whereas most other platforms tend to encrypt just on the cloud or on the server. There is no need to send documents via email or any other less secure method of communication. What is blockchain and how is it relevant to contract management?Blockchain technology can be used in various industries and use cases. It works by saving certain information on various "nodes" (or "chains"). You don't save this information on your personal laptop, rather it's saved hundreds or thousands of times on a network of other, independent nodes. This gives the document (or information) immutability: the elimination of somebody being able to fraudulently change or doctor a document. In simple terms, it eliminates fraud and tracks and records any changes or amendments for posterity. There is no need with blockchain to save different versions of contracts in MS Word with the latest version filename as a differentiator. There is a complete audit trail stored in cyberspace. Nobody can falsify or overwrite changes to a document without it being flagged. Which sectors are keenest to adopt this technology?Elena answers that typically, companies that have experience of being hacked are usually keenest to bring this on board. Historically this was only very large companies, but this is now starting to change. As cybersecurity becomes more and more central to companies' risk management strategies, the size of the companies responding favourably to investing in blockchain technology are becoming smaller. It's no longer an issue that only big organisations need to worry about. From real estate, through to construction and most recently banks are all showing an interest in adopting this type of technology. It's not just contracts which can be stored using blockchainWhile they may be the most obvious example, contracts are just one type of document which can benefit from blockchain. Purchase orders and receipts for example can also be stored in Inhubber, and access control to different documents within an organisation or within a network of core suppliers can also be regulated through the platform. By taking advantage of encryption technology, confidential documents can also be transferred for example from a buyer to a supplier when collaborating on joint innovation projects. Leveraging AI to extract key contract dataAs with many competitor CLM solutions, Inhubber also has an intelligent contract monitoring function which can track some standard metrics such as:
This can also be programmed according to individual requirements of... | |||||||
| 11 May 2022 | Solving Tail Spend in a Legacy S2P Ecosystem – Henning Hatje from Lhotse | 00:33:32 | |||||
This week we’ve got a sponsored episode, welcoming back a guest we last spoke to in September 2021, Henning Hatje from Lhotse.
Lhotse has a tactical and tail spend solution, which they see as something complementary to a legacy suite based approach. So if you've spent a lot of money investing in one of these suites and you're not likely to change provider, or maybe your company has a strategy to use a specific ecosystem that matches and ties in with your ERP (not naming names!), then this solution could be for you.
Lhotse pivots to enterprise with a new solutionI welcome Henning back to the podcast and mention how, since he was last on the show, he’s been busy making changes to Lhotse that he’s very excited to share. He talks about how Lhoste have been securing funding, scaling their team, refining their value proposition and pivoting their target market over the last eight to ten months. Lhotse now have enterprise size organisations squarely in their sites. Henning explains how the team realised that Lhotse works best when implemented in large, existing structures like the ones mentioned in the podcast’s intro - for example SAP Ariba. Not so much as a standalone solution, but rather as an integrated solution that operates in the background of those legacy systems.What makes Lhotse different?Henning explains how these legacy systems don’t cover tactical spend well, and are often cumbersome to use from a UX standpoint. I ask him what makes Lhoste different, and how it can meet the kind of requirements that today's customer is demanding. He explains that Lhotse’s new approach hopes to supercharge procurement systems, working on two main axes: One focusing on the operative procurement teams, the spot by teams, the tactical teams, making their life easier and more efficient, bringing efficiency levers to their daily life, in terms of execution; And one focusing on the requester, the business users that are spread across the organisation. Henning says that business users never enjoy these big suites, because they’re made for experts, not occasional users. Although we both think that these big suites do have upsides, and we shouldn’t beat them up too much, we both agree that UX makes them very intimidating for new users. For tactical spend and tail spend, users need a system that's intuitive, because if they don't have that, it results in maverick spend.Why do things this way, as opposed to just connecting catalogues?I put forward a logical challenge to Henning: Why wouldn't you then just just connect a bunch of punch out catalogues with something like Ariba, or one of these big suites? Where is the gap between what Lhotse does and what and what a punch out catalogue running into one of these suites can offer? He explains that the chief benefit is central coordination and easy searchability. Lhotse can harmonise across catalogues, giving an integration layer that combines the process of searching for something, no matter if it's a catalog item, or a free text request that will go out to suppliers to get quotes. While common, repeatable spend might benefit from a catalogue approach, not all spend is of this kind. So Lhotse is also useful when it comes to non-repeatable spend - for example a marketing assistant buying conference meeting rooms. Unique spend like this is common, and no-one wants to use a static, unintuitive catalog for these sorts of purchases.Examples - How Lhotse could help your organisationWhat does the process look like for tactical and tail spend in a poorly managed organisation, and by contrast, what does the same process look like when using Lhotse? He proposes an example where a company is using Ariba: They get a first quote, put it into the system as a free text request, and then put this to the procurement team to action. In this example, the procurement team is effectively doing a job a robot could do.... | |||||||
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