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.
Advanced Analytics
- Rapid analysis and enhancement of category spend and use cases to classify as ready for implementation
- Strong decision intelligence and recommendation capability
- Data enrichments with internal and external data
- Supply chain insights and market intelligence
- Integration into procurement planning with analytics driving actions
- Visualisation and real time reporting to support business case
SaaS Sourcing
- Management of organisation’s SaaS portfolio, including assisted purchasing & compliance management
- Automation of SaaS procurement and consideration of SaaS procurement requirements such as GDPR & End User License agreements
- Automated recommendations and actions to simplify existing stack, optimise cost and un-lock savings
- Strong user experience and workflows
- Price benchmarking against the market rates for comparable organisations
- Lifecycle management of SaaS portfolio with renewals and ongoing price management
Complex Categories Sourcing
- Rapid analysis of category spend and use cases to classify as ready for implementation
- Facilitate automation across intake, streamlined supplier communication and automatic bid collection
- Automatically funnel non-compliant spend to preferred suppliers and contracts to adhere to category strategy
- Recommendation engine automatically identifies the best suppliers for selected spend categories and purchases
- Seamless integration within existing workflows and tools, automatically syncing data with ERP or P2P systems incl SAP.
Autonomous Negotiation
- Ability to contact many suppliers in a short time frame, negotiating commercial & legal terms automatically
- Automatically negotiates rebates, discounts and payment terms, as well as item and category costs
- Rapidly and automatically change the commercial set up of negotiations to create competition among supply base
- Machine learning prescribes better acceptance criteria for the purchase requirements
- Ability to negotiate contractual terms for services spend categories
- Ability for buyer to manually intervene whereautonomous negotiation is not possible / practical
- Automatically determines level of approvals required based on DOA's
- Options to identify new suppliers or alternatives
Low Value Payments
- Ability to create request via a punchout to third party supplier whilst leveraging existing purchasing workflow
- Enable spend caps and manage cashflow on tail spend services by category
- Issuing payment to single provider on an extended term, whilst maintaining tax and invoice compliance from individual service providers
- Third party managed Supplier onboarding process inc. KYC / Sanctions/ AML screening
- Integrates to financial reporting systems
- Enable anend-to-end buying channel for the procurement of low value goods & services with an exceptional user experience
- Streamline or eliminate the ERP vendor set-up and maintenanceprocesses
- Ensure compliant, on-time payment with standard terms
- Generate commercial benefits through financing or early payment discounts
- Reduce invoice processing efforts through automation
- Support Internationalcurrencies and payments
Sustainability
- Supply chain traceability
- Carbon and emissions tracking and offsetting
- Enterprise sustainability management
- Supply chain transparency and reporting
- Sustainability assessment or audit
- ESG category knowledge
- Sustainability ratings
Previous Challenges
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.
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.
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.
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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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