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In this episode of The Procurement Software Podcast, host James Meads delves into a provocative topic inspired by a LinkedIn post from industry commentator Jon W. Hansen.
The post claims that 83% of AI initiatives fail and predicts that 75% of AI solution providers will be out of business by the end of 2025.
So, is this likely? Tune in as he breaks down these bold claims and offers insights into the future of procurement technology.
How many procuretechs will still be here in 2 years?This week, James tackles the pressing question of whether 75% of AI solution providers will truly vanish by 2025, a claim recently made by industry commentator Jon W. Hansen.
While some market consolidation is inevitable, James argues that this figure is exaggerated. Many procurement tech companies are thriving by delivering measurable results and adapting to shifting market demands.
The discussion highlights how innovative tools are emerging to fill gaps in the market left by underperforming legacy providers. For SMEs and mid-market organisations, this shift is particularly exciting. New solutions tailored to these segments are making procurement tech more accessible and effective, addressing unique challenges often overlooked by traditional players.
Sustainability tools also take centre stage, as regulatory pressures drive demand for solutions that help organisations achieve compliance. Additionally, niche-specific platforms are gaining traction, offering tailored capabilities for industries like oil and gas, financial services, and emerging markets.
James emphasises that procurement professionals must remain open to innovation, prioritising results over software brand recognition and flagship case studies. By exploring new entrants alongside established players, organisations can uncover solutions that align with their strategic goals and set them up for long-term success.
Timestamps:[00:02:21] Procurement tech sustainability concerns.
[00:06:31] AI solutions for SMEs.
[00:08:11] Emerging markets in procurement tech.
[00:12:38] Legacy player risks 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!Download our Tech Map for EnterpriseDownload our Tech Map for Mid-MarketDownload our Tech Map for SMEsFind your perfect procurement tech solution in our Software Finder appSign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedIn
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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!Connect with Praveen Kalamegham on LinkedInCheck out WorkriseDownload our Tech Map for EnterpriseDownload our Tech Map for Mid-MarketDownload our Tech Map for SMEsFind your perfect procurement tech solution in our -
Saknas det avsnitt?
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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!Download our Tech Map for EnterpriseDownload our Tech Map for Mid-MarketDownload our Tech Map for SMEsFind your perfect procurement tech solution in our Software Finder appSign up for the Procurement Software... -
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!Connect with Dan Gianfreda on LinkedInCheck out DeepStreamDownload our Tech Map for EnterpriseDownload our Tech Map for Mid-MarketDownload our Tech Map for SMEsFind your perfect procurement tech solution in our Software Finder appSign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital... -
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!Download our Tech Map for EnterpriseDownload our Tech Map for Mid-MarketDownload our Tech Map for SMEsFind your perfect procurement tech solution in our Software... -
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:
cost reductioncost avoidancedelayed cost increasesrevenue generationPaul 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!Connect with Paul Gurr on LinkedInCheck out ProvalidoDownload our Tech Map for EnterpriseDownload our Tech -
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!Download our Tech Map for EnterpriseDownload our Tech Map for Mid-MarketDownload our Tech Map for SMEsFind your perfect procurement... -
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!
Download our Tech Map for EnterpriseDownload our Tech Map for Mid-MarketDownload our Tech Map for SMEsFind your perfect procurement tech solution in our Software Finder appSign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedIn
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In this episode of The Procurement Software Podcast, host James welcomes Mark Gilham from Enable to discuss the complexities and opportunities surrounding rebates in procurement.
They explore how effective tracking and reporting of rebates can lead to significant savings for organisations.
Tune in to discover practical strategies that can help your organisation navigate the opportunities of effective rebate and post-signature contract management.
Rebates, and their procurement savings potentialIn this podcast episode, Mark Gilham from Enable highlights the importance of strong communication between procurement and finance teams when managing rebates. He explains that procurement often focuses on savings, while finance looks at the broader financial impact. Open dialogue is essential to ensure both teams are aligned, particularly when dealing with one-off rebates that can affect financial forecasts.
Mark also stresses the importance of building strong relationships between the two departments to better understand each other's goals and challenges. Collaboration between procurement and finance can prevent misalignment and ensure smoother rebate management.
Additionally, Mark discusses how technology, such as Enable’s platform, provides a single source of truth for rebate agreements and performance tracking. This transparency helps both teams access the same data, reducing misunderstandings and driving more informed decision-making, ultimately improving financial outcomes for the organisation.
Timestamps:[00:01:10] Rebates and procurement challenges.
[00:06:38] Procurement and rebate management.
[00:09:05] Performance-based rebate structures.
[00:12:36] Communication with finance teams.
[00:18:30] Collaborative rebate management platform.
[00:20:03] Contract management tool capabilities.
[00:27:12] AI in procurement technology.
[00:28:10] AI in rebate management applications.
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!Connect with Mark Gilham on LinkedInCheck out EnableDownload our Tech Map for EnterpriseDownload our Tech Map for Mid-MarketDownload our Tech Map for SMEsFind your perfect procurement tech solution in our Software Finder appSign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedIn
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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!
Download our Tech Map for EnterpriseDownload our Tech Map for Mid-MarketDownload our Tech Map for SMEsFind your perfect procurement tech solution in our Software Finder appSign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedIn
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In this episode of The Procurement Software Podcast, host James welcomes Shaun Syvertsen, CEO of Convergent IS, to discuss how organisations can enhance their procurement processes by improving the user experience of SAP.
They delve into the complexities of the system and share insights on how to leverage procurement technology to simplify the intake-to-procure process for companies who use SAP as their ERP.
Tune in to discover practical strategies and tools that can help your organisation navigate the evolving landscape of procurement software, especially tailored for the mid-market.
How to make SAP more user-friendly on the front endThis episode dives into the importance of having a clear procurement strategy before selecting any technology. Sean emphasises the need for clarity in your goals, ensuring alignment between technology solutions and your organisation’s needs.
Key takeaways include:
Defining Your Strategy: Be clear on your procurement approach before exploring technology options.
Aligning with Goals: Make sure the chosen tools align with your organisation’s objectives to avoid adoption gaps.
User Adoption: Sean discusses how user-friendly technology is crucial for ensuring employees engage with the system rather than bypass it.
Expert Guidance: Investing in expert advice early on can save both time and resources by selecting the right technology from the start.
Tune in to learn how a well-defined strategy can lead to successful procurement technology investments and drive long-term organisational success.
Timestamps:[00:02:10] SAP user experience enhancement
[00:05:14] Know your why before your what
[00:10:02] Integration with SAP systems
[00:12:30] Orchestration in procurement systems
[00:17:59] User adoption and process design
[00:20:16] Procurement transparency and efficiency
[00:23:11] Orchestration solutions in procurement
[00:27:29] Preventing SaaS sprawl in organisations
[00:32:40] Reducing time to value with AI
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!
Connect with Shaun Syvertsen on LinkedInCheck out ConvergentISDownload our Tech Map for EnterpriseDownload our Tech Map for Mid-MarketDownload our Tech Map for SMEsFind your perfect procurement tech solution in our Software Finder appSign up for the -
In this week's episode of The Procurement Software Podcast, host James Meads dives into the power of our Tech Maps and how they can simplify your search for the right procurement technology.Whether you're part of a small business, mid-market company, or a large enterprise, Tech Maps from ProcurementSoftware.site offer a tailored approach to finding the technology that best fits your needs.Tune in to learn how to leverage this valuable tool and explore the resources available to support your digital procurement journey.Procurement Tech Maps: SME, Mid-Market and EnterpriseThis week, we explore how Tech Maps can be a vital tool in navigating the complex procurement technology landscape. Designed to offer a clear overview of various market players, TechMaps help procurement professionals identify solutions that best fit their needs, without the noise of vendor endorsements or biases.We discuss how these maps categorise solutions by target market—whether SMEs, mid-market, or large enterprises—providing a tailored approach to finding the right tools. Beyond just listing companies, the Tech Maps offer a snapshot of the procurement tech ecosystem, helping you on the start of your journey towards making informed decisions.Additionally, the episode highlights the resources available to dive deeper, from a free software database to personalised consultations and detailed research options. By utilising Tech Maps and these supporting tools, organisations can confidently navigate their digital procurement journey.Tune in to discover how our Tech Maps can streamline your search for the perfect procurement technology solutions, tailored to your specific needs.Timestamps:[00:01:42] What should our Tech Maps be used for?[00:06:33] Procurement tech for different businesses.[00:09:02] Spend analytics in tech maps.[00:15:07] Understanding the procurement tech market.[00:17:28] Ways to Find Software 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!Grab your ticket to ProcureCon EU in Barcelona with 10% off! Download our Tech Map for Enterprise Download our Tech Map for Mid-Market Download our Tech Map for SMEs Find your perfect procurement tech solution in our Software Finder app Sign up for the Procurement Software Newsletter Book an Intro Call and let’s talk all things Digital Procurement! Connect with James on LinkedIn
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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 InterestAnd 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! Download our Tech Map for Enterprise Download our Tech Map for Mid-Market Download our Tech Map for SMEs Find your perfect procurement tech solution in our Software Finder app Sign up for the Procurement Software Newsletter Book an Intro Call and...
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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 ExamplesAnd 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! Download our Tech Map for Enterprise Download our Tech Map for Mid-Market Download our Tech Map for SMEs Find your perfect procurement tech solution in our Software Finder app Sign up for the Procurement Software Newsletter Book an Intro Call and let’s talk all things Digital Procurement! Connect with James on LinkedIn
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This episode of The Procurement Software Podcast delves into the impact of technology and AI on category manager roles in procurement.Host James Meads explores how advancements in tech can potentially change the landscape of procurement and discusses specific areas like spend analytics that can benefit from AI applications.Tune in to learn more about the evolving role of category managers in the era of technological advancements.Will Tech and AI make Category Management irrelevant?In this episode, we explore how AI and technology are transforming the role of category managers in procurement. AI can automate many tactical tasks, such as spend analytics, sourcing, supplier management, and contract reviews, reducing the operational workload. This automation enables category managers to focus on more strategic activities, enhancing their ability to deliver value to the organisation.Despite the efficiency AI brings, it cannot replace the essential soft skills required for effective supplier management and stakeholder engagement. The episode underscores that human emotional intelligence and communication skills remain crucial. Category managers excel in fostering relationships, developing category strategies, and crafting compelling narratives around data to engage stakeholders.Tune in to learn how AI empowers category managers to shift from routine tasks to high-impact activities, driving strategic decision-making and value creation within organisations.Timestamps:[00:02:24] AI in sourcing applications[00:04:43] Contract Management AI Technology[00:11:31] The rise of prompt engineering[00:15:14] AI limitations and soft skills[00:17:15] AI in procurement advancementsAnd 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! Download our Tech Map for Enterprise Download our Tech Map for Mid-Market Download our Tech Map for SMEs Find your perfect procurement tech solution in our Software Finder app Sign up for the Procurement Software Newsletter Book an Intro Call and let’s talk all things Digital Procurement! Connect with James on LinkedIn
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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. Inventory Management: We discuss the importance of handling raw materials and components, highlighting the need for advanced inventory systems and effective BOM spend management. Supplier Relationship Management (SRM): Emphasising the complexities of supplier relationships in direct procurement, we explore advanced SRM tools that ensure quality control, timely delivery, and compliance with production standards. Risk Management: We look at how predictive analytics and robust risk mitigation tools are essential for identifying and addressing potential supply chain disruptions. Niche Category Specific Tools: Certain sub-categories and areas of spend require tailor-made solutions for their nuances. We explore some concrete examples.
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! Download our Tech Map for Enterprise Download our Tech Map for Mid-Market Download our Tech Map for SMEs Find your perfect procurement tech solution in our Software Finder app Sign up for the Procurement Software Newsletter -
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! Connect with Jonathan O'Brien on LinkedIn Check out Positive Purchasing Download our Tech Map for Enterprise Download our Tech Map for Mid-Market Download our Tech Map for SMEs Find your perfect procurement tech solution in our Software Finder app Sign up for the Procurement Software Newsletter Book an Intro Call and let’s talk all things Digital Procurement! Connect with James on LinkedIn...
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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 ProcurementAnd 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! Download our Tech Map for Enterprise Download our Tech Map for Mid-Market Download our Tech Map for SMEs Find your perfect procurement tech solution in our Software Finder app Sign up for the Procurement Software Newsletter Book an Intro Call and let’s talk all things Digital Procurement! Connect...
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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 Timestamps
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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 ConclusionAnd 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! Download our Tech Map for Enterprise Download our Tech Map for Mid-Market Download our Tech Map for SMEs Find your perfect procurement tech solution in our Software Finder app Sign up for the
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