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 TakeawaysAnd 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! Sign up for the Procurement Software Newsletter Book an Intro Call and let’s talk all things Digital Procurement! Connect with James on LinkedIn Follow Procurement Software’s LinkedIn Page

This week on The Procurement Software Podcast, host James delves into the concept of creating the ideal procurement team by combining human expertise with technology. Emphasizing the importance of leveraging existing resources without expecting additional budget, the episode explores ways to maximize the efficiency and effectiveness of a procurement team and its wage bill. Join the discussion on how to merge human talent with technological advancements to elevate procurement's efficiency and added value to new heights. Building a procurement team that's fit for 2030 This episode of The Procurement Software Podcast explores the concept of optimising a procurement team by integrating human expertise with technology. James suggests restructuring the team to focus on strategic tasks by reducing category managers and introducing roles such as procurement business partners, data scientists, analysts, and admin assistants. This shift allows the team to delegate routine tasks to technology, enabling a focus on value-added activities. The episode highlights the importance of data analysis in procurement, advocating for a data scientist's role to leverage data for informed decision-making and process optimisation. Additionally, the host discusses the significance of investing in procurement technology, like spend analytics and procure-to-pay software, to easily identify savings opportunities, automate processes and facilitate self-service for stakeholders. This strategic combination of human and machine capabilities is presented as a way to create a more efficient and effective procurement team, driving value and enhancing productivity within the organisation. Timestamps: [00:00:37] Dream Procurement Team Concept [00:01:09] Budget Constraints and Assumptions [00:02:01] Current Team and Salary Structure [00:03:17] Rethinking the Category Management Team [00:04:19] Reducing Category Managers and Allocating Budget [00:05:02] Introducing a Procurement Business Partner [00:05:57] The Importance of a Data Scientist [00:06:51] Adding an Analyst to the Team [00:07:54] Hiring an Admin Assistant with Marketing Skills [00:08:59] Final Team Composition and Headcount [00:10:47] Allocating Budget for Procurement Technology And that wraps up another episode of The Procurement Software Podcast! 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! Sign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedInFollow Procurement Software’s LinkedIn Page

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 Kazenmayer 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 automationAnd 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! Connect with Kevin Kazenmayer on LinkedIn Check out TradeCentric Sign up for the Procurement Software Newsletter Book an Intro Call and let’s talk all things Digital Procurement! Connect with James on LinkedIn Follow Procurement Software’s LinkedIn Page

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! Sign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedInFollow Procurement Software’s LinkedIn Page

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! Sign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedInFollow Procurement Software’s LinkedIn Page

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! Connect with Rujul Zaparde on LinkedInCheck out ZIPSign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedInFollow Procurement Software’s LinkedIn Page

In this episode of The Procurement Software Podcast, host James Meads announces the rebranding of the podcast and explains the reasons behind it. Initially launched as The Procuretech Podcast, the show has evolved over the years and now aligns with the procurementsoftware.site brand. Tune in to stay updated and inspired by the exciting developments in the field. How to get a budget for procurement tech This episode delves into the evolving procurement technology market, highlighting a trend towards niche solutions tailored to specific industries and geographies, driven by the unique procurement needs across sectors and regions. Companies are now focusing on developing specialised tools to address particular industry challenges, thereby enabling organisations to select technology that closely aligns with their requirements. This shift towards customisation is leading to better technology adoption and effectiveness. The episode also emphasises the importance of starting with the "why" when developing a business case for ProcureTech, advising to focus on addressing the most significant challenges within procurement processes. It draws on Simon Sinek's principle of understanding the purpose behind actions, suggesting that identifying key pain points can guide the selection of targeted solutions. Furthermore, the podcast advocates for a value-driven approach over merely cost-saving, urging consideration of technology's impact on both the top and bottom lines. Moreover, the podcast outlines various factors justifying ProcureTech investment, including cost savings through streamlined processes, risk management in complex supply chains, enhanced supplier relationship management, and the promotion of sustainability initiatives. It also touches on financial optimisation by automating tasks and potentially reallocating or reducing personnel, highlighting the multifaceted benefits of investing in procurement technology. Timestamps: [00:01:10] Rebranding the podcast. [00:05:13] Funding challenges in procurement tech. [00:08:12] Intake category and its impact. [00:14:28] Companies' approach to procurement. [00:15:21] Best of breed solutions. [00:19:19] Due diligence on IT suppliers. [00:23:15] Supply chain disruption and risk. [00:27:30-00:27:40] CO2 emissions measurement in procurement. [00:31:01] Giving up salary for tech. And that wraps up another episode of The Procurement Software Podcast! Thanks to Graham for being a great interviewer, James 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 CASME, Graham Crawshaw, or Procurement Software, check out the useful links below.   Stay in touch! Connect with Graham Crawshaw on LinkedInCheck out CASMESign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedInFollow Procurement Software’s LinkedIn Page

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 trends In 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! Connect with Simon Geale on LinkedInCheck out ProximaSign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedInFollow Procurement Software’s LinkedIn Page

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! Connect with Sam Clive on LinkedInCheck out RosslynSign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedInFollow Procurement Software’s LinkedIn Page

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-market This 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! Connect with Hans Boot on LinkedInCheck out Durch Denken VorneSign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedInFollow Procurement Software’s LinkedIn Page

In this episode of The Procuretech Podcast, host James Meads welcomes back Edmund Zagorin, Founder and Chief Strategy Officer of Arkestro. They discuss the use of predictive models in various areas of procurement and supply chain. Tune in for an insightful and forward-thinking conversation about the future of procurement and technology. Predictive procurement orchestration: what is it? This episode focuses on user-friendly technology in the procurement industry, catering to the expectations of the new generation. The discussion underscores the need for technology that doesn't alienate suppliers and simplifies the procurement process with a "one-click" approach. It highlights the power balance between procurement leaders and suppliers, and how fostering positive relationships through efficient processes benefits both parties. The episode also explores the use of predictive models and their integration into existing procurement systems, offering valuable insights and enhancing decision-making. Arkestro supports various procurement activities and seamlessly integrates with ERP and other systems, providing real-time insights and automating workflows. It emphasises the value of centralised systems in tracking contract renewals and projects, ultimately streamlining and automating procurement processes for success. Timestamps: [00:01:09] Introducing Edmund Zagorin of Arkestro [00:01:27] Predictive models in procurement. [00:06:17] Clarifying Arkestro's value. [00:09:02] An interesting topic. [00:14:06] Meeting people where they are. [00:19:48] What's next for procurement? [00:23:09] Overturning the old procurement model. [00:25:57] Are there cool folks in procurement? And that wraps up another episode of The Procuretech Podcast! Thanks to Edmund 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 Edmund Zagorin, Arkestro or Procurement Software, check out the useful links below. Stay in touch! Connect with Edmund Zagorin on LinkedInCheck out ArkestroSign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedInFollow Procurement Software’s LinkedIn Page

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! Connect with Laurent Thomas on LinkedInCheck out Consulting QuestSign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedInFollow Procurement Software’s LinkedIn Page

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 automation The 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! Connect with Ryan Belcher on LinkedInCheck out SpendwiseSign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedInFollow Procurement Software’s LinkedIn Page

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 market James 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! Sign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedInFollow Procurement Software’s LinkedIn Page

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! · Connect with Karthik Rama on LinkedIn · Check out Procurementdoctors.com · Sign up for the Procurement Software Newsletter · Book an Intro Call and let’s talk all things Digital Procurement! · Connect with James on LinkedIn · Follow Procurement Software’s LinkedIn Page

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! Connect with Laura Sellers on LinkedInCheck out OliveSign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedInFollow Procurement Software’s LinkedIn Page

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 organisations In 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! · Connect with Thejo Kote on LinkedIn · Check out Airbase. · Sign up for the Procurement Software Newsletter · Book an Intro Call and let’s talk all things Digital Procurement! · Connect with James on LinkedIn · Follow Procurement Software’s LinkedIn Page

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 East In 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! Connect with Iyad Aldalooj on LinkedInCheck out Penny.Sign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedInFollow Procurement Software’s LinkedIn Page

In this episode of The Procuretech Podcast, host James Meads features Dominique Kindt, CEO and founder of consultancy With and Birdseye. Kindt developed a contract lifecycle management platform in response to the lack of effective solutions in the market. He believes that many companies focus too much on the pre-contract signing phase and neglect the post-signature phase, which is where 80% of contract lifecycle management occurs. Contract Lifecycle Management: A Deep Dive with Dominique Kindt, CEO and Founder of With and BirdsEye In this episode, the "holy triangle" concept for successful software implementation is discussed, emphasising a well-defined process, proper training, and optimal software utilisation. Merely purchasing licenses is insufficient; correct software usage within a clear process and training for employees are essential. A well-defined process involves configuration, installation, and adoption, preventing underutilisation of the software. Proper training ensures user awareness and maximises the benefits of the process and visibility tools. Optimal software use provides visibility and must be facilitated for effective process execution. Organisations should prioritise the holy triangle of process, software, and people rather than focusing solely on license acquisition. This holistic approach aims for visibility and effectiveness through process, software, and people alignment. Timestamps: [00:02:00] Introducing Dominique Kindt CEO of With and Birdseye. [00:03:40] Contract life cycle management. [00:10:01] Post-signature contract lifecycle management. [00:11:01] The Holy Triangle. [00:14:09] Leveraging supplier relationships. [00:18:20] Value leakage in contracts. [00:22:10] Driving visibility with dashboarding. [00:24:35] Procurement's added value in negotiations. [00:28:11] Demoing platform features. And that wraps up another episode of The Procuretech Podcast! Thanks to Dominique 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 Dominique Kindt, Birdseye, WITH, or Procurement Software, check out the useful links below. Stay in touch! Connect with Dominique Kindt on LinkedInCheck out WITH and BirdseyeSign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedInFollow Procurement Software’s LinkedIn Page

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 Forestreet In 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! Connect with David Doyle on LinkedInCheck out forestreet.comSign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedInFollow Procurement Software’s LinkedIn Page