No Code Procurement – Does it make sense to make vs. buy?

03-07-2024 • 18 mins

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.