Corporate Challenges
Each of our corporate partners have defined the areas of digital procurement most relevant to them. For each challenge, mentors, pilot funding and resource is allocated to find the latest digital solutions. Apply to the challenges below for a chance to pitch, pilot and partner with our corporate partners.
Tail Spend
- Rapid analysis of tail spend to classify the tail and implementation to tackle the spend at a category or supplier level.
- Touchless intake, streamlined supplier communication, and automatic bid collection.
- Automatically funnel non-compliant spend to preferred suppliers and contracts to adhere to category strategy.
- Easily create RFxs, review supplier responses, and award bids—all in one place.
- Recommendation engine automatically identifies the best suppliers for tail spend purchases.
- Curated dashboards give instant visibility into key spend and performance metrics.
- Seamlessly integration within existing workflows and tools, automatically syncing data with ERP or P2P systems incl SAP.
- Deep experience and focus on tail spend management at scale and in a manufacturing environment.
Multi-channel Interface
- Solution to reduce user interaction time to complete simple procurement activities.
- Enable simple transactions without needing to use a computer e.g. status checking, order updates, purchasing catalogues items, raising request form, approvals.
- Interface and UX simplification e.g. create / autofill purchase requisitions, swipe left/right functionality.
- Provide basis for multichannel experience ie Instant messaging, voice enabled, wearables, for decisions, ordering and tracking.
- Improve user experience, initially for non-desk-based e.g. lab based or ‘in-transit’ users.
- Conversational / voice activation and potential for multi-language support.
- Seamless integration with existing digital and data platforms.
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Third Party Risk Management
- Fully integrated third party risk management and supplier onboarding platform.
- Automate the processes, workflows and decisions to manage vendor risks.
- Access and integration with existing solutions e.g. Oracle, and live external data sources and alerts.
- Manage the acquisition, analysis and reporting of vendor risk data and documents sourced from private and public sources.
- Ability to identify, assess, analyse, monitor and mitigate vendor risks and issues.
- Supplier qualification system including approval based on set parameters e.g via the use of questionnaires.
- Perform due diligence operations and ongoing vendor data management.
- Strong user interface and experience, especially for suppliers.
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Category Management
- In-depth category analysis.
- Guided strategy creation using business frameworks.
- Predictive recommendations for implementation.
- Automation of standard tasks.
- Advanced stakeholder collaboration.
- AI driven market intelligence.
- Central data repository.
- Advanced workflow collaboration.
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SaaS Procurement
- Procurement optimisation of SaaS portfolio via curated insights delivering actionable recommendations.
- Personalised analysis of existing SaaS stack with optimisation recommendations.
- Price benchmarking and savings delivery to ensure your portfolio is financially competitive in the market with data to support the development of the portfolio e.g. renewals.
- Assisted purchasing when adding new software to the SaaS stack.
- Life cycle management including supplier management for the SaaS portfolio with data and insights to support decision making.
- Ready to scale with the business.
Advanced Analytics
- Demand – clear view of quantity of a item/service (from aggregate spend data) for trend analysis and benchmarking.
- Price – clear view of pricing, separated from demand in aggregate spend data, for analysis.
- Total cost – ability to link related costs to see a total cost picture of a category/area of spend.
- Should cost – ability to import in cost models to insights and benchmarking.
- Benchmarking – ability to compare demand, price, total cost to an internal/external benchmark.
- ROI from spend/other value measures (sustainability).
- Program and savings tracker.
- Opportunity insights – ability to see actionable insights for strategic sourcing or demand management initiatives.
- Other insights – ability to create customizable insights based on procurement best practices.
- Dashboard capability.
New challenges
- Interested in finding out about new challenges? We are always adding more so register below to be kept up to date.
We’re always accepting new challenges from corporate teams.
If you’d like to submit a challenge and join this or the next ProcureTech ACCELERATOR programme,
then add your challenge.
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