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.
[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.