Survive or thrive? How solutions and corporates are navigating their way through procurement
- Lizzie Black
- March 24, 2023
‘Keep it simple to gain love from your user.’
The Procuretech Founders’ Circle is a time for leading corporates, B2B investors and innovative digital solutions to come together and discuss how they’re solving challenges in procurement.
As part of the session, we welcomed attendees to breakouts, where they discussed 3 topics:
- Survive or thrive?
- Talent step change
- ESG
We’ll discuss each of these over the coming weeks. Here, we’ll focus on what corporates and solutions think when it comes to working together in procurement.
What do you do to survive or thrive?
How are digital solutions navigating their way through procurement?
- Don’t ‘dive’ into trends
- Competitor analysis – how can they make their solution as simple yet as competitive as possible?
- Clients have a mandate – lean into objectives and ROI
- Tight management of team growth
- Gain ‘love’ from the user – keep it simple
- A clear USP
- End-user early involvement
- Focus on profitability
“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 of Digital Procurement, Coca-Cola Europacific Partners
What do corporates want to see from digital solutions? What are they doing to make working with solutions easier?
- Faster decision-making
- Want to see proven concepts instead of going through endless ‘Ariba’ processes
- They want to work with startups – but what are the costs? Be transparent
- Payment terms and timings – Supply Chain Finance
- Allocate budgets for the process
- Faster selection and onboarding
- Better integration
- Supplier development and innovation
What challenges are your team facing in procurement? Can you relate?
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