Which tech would I buy first in a greenfield Head of Procurement role?

08-05-2024 • 17 mins

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.