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The business case: how to get a budget for procurement tech

  • 3 min read

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.

 

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