More digital-driven minds come together to discuss a better future for procurement

More digital-driven minds come together to build a better future for procurement

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“We are in a digital revolution!”

ProcureTech and Kearney welcomed leading corporates, B2B investors and innovative digital solutions to another Procuretech Founders’ Circle in the heart of London.

Following the success of the June and November events in 2022, Lance Younger and Dr Elouise Epstein welcomed back thought-leaders in the digital space and opened the floor to discuss how corporates, VCs and solutions are overcoming challenges in procurement.

“If your problem’s not being digitally solved in and by procurement, it’s being solved somewhere else in the business… Somewhere along the line you’re going to have to integrate with that digital solution.”
Lance Younger, Founder & CEO, ProcureTech

They discussed everything from ESG to Tail Spend, onboarding, sustainability, innovation and more.

“How much does it cost organisations to solve their Tail Spend? Many organisations won’t acknowledge or don’t know how much it costs them. They don’t have the data nor know the value of these systems.”
Natasha Foster, Co-founder & COO, Paid

In breakout sessions (we’ll be sharing a little more from these over the next few weeks!), we had the chance to talk through the future of digital procurement by looking at 3 key areas:

  • Survive or thrive?
    • How can solutions and enterprises scale?
  • ESG priorities
  • Talent
    • Is a step change required?

Amongst the deep, impactful conversations, a common theme emerged: one of the most crucial stages in elevating digital procurement transformation is finding the right talent.

Insights from corporates revealed there is a major gap in talent and training.

“What’s expected of procurement has changed. We’re changing our job descriptions. Applicants that talk about data are the ones that stand out. Prioritise the functionalities first, so the user can get value.”
Vanya Petrovic, Global Director, Coca Cola Europacific Partners

Job descriptions for procurement haven’t really changed over the years, but when digital is a driver of change – who are the people actually implementing it? It seems companies need to provide the right training so their employees can use tools that deliver value in their roles.

“We are in a digital revolution!”
Dr Elouise Epstein, Partner at Kearney

Interested in the Founders’ Circle? Follow ProcureTech and connect with us on LinkedIn. There will be more collaborations and Procuretech Founders’ Circles throughout the year across the UK, Europe and the US (Austin, Texas and San Francisco, California).

Sign up to our weekly bulletin ProcureTech SIGNALS and follow ProcureTech on LinkedIn to find out more from this and future sessions. 

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