The Procurement Software Podcast

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.

[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 LinkedIn

Check out Consulting Quest

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

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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.

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.

[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 LinkedIn

Check out Spendwise

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

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.

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.

[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!

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

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.

[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

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

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.

[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 LinkedIn

Check out Olive

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

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.

[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.

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

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.

[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 LinkedIn

Check out Penny.

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

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.

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.

[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 LinkedIn

Check out WITH and Birdseye

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

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.

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.

[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 LinkedIn

Check out forestreet.com

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

In this episode of The Procuretech Podcast, host James Meads focuses on how technology is shaping the future of the procurement profession with Jan Ellerbrock, founder and CEO of Swiss Smart Contract Platform trueLedger, who discusses smart contracting in the professional services space and how software can help manage services post-contract signature.

Jan's background is in insurance and management consulting, which inspired him to pursue entrepreneurship and found his own company.

This episode explores the benefits of smart contracting in the professional services industry. Smart contracting ensures transparency, compliance, and savings of 10% to 25% on professional service spending.

The use of a smart contracting engine enables real-time tracking of progress, budget, and automatic invoice generation. By leveraging machine-executable smart contracts, organisations can maintain the latest contract versions and delivery tracking information. Focusing on the untapped potential after the contract signature helps prevent value erosion and improve efficiency.

Real-time cost tracking is essential to control overspending on service parts, allowing for immediate root cause analysis and issue detection. It also enables daily projections, proactive budget management, and better resource mix control. Access to real-time information enhances project management and cost control, mitigating unexpected expenses.

[00:01:57] Introducing Jan Ellerbrock from trueLedger.

[00:06:27] Value erosion in professional services.

[00:09:02] Managing service contracts effectively.

[00:10:49] Collaboration and transparency in projects.

[00:14:18] Collaborating with vendors.

[00:18:27] Invoice automation and compliance.

[00:20:52] Resource Mix in Consulting Contracts.

[00:24:53] Efficiency gains in professional services.

[00:27:43] Procurement savings potential.

And that wraps up another episode of The Procuretech Podcast!

Thanks to Jan for sharing his insights with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there.

If you want to learn more about Jan Ellerbrock, trueLedger, or Procurement Software, check out the useful links below.

Stay in touch!

Connect with Jan Ellerbrock on LinkedIn

Check out net

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