Frequently Asked Questions

ProcureTech is a new platform designed to amplify and accelerate digital procurement. It has been created to support buyers and vendors in navigating the rapidly evolving procurement ecosystem and enable them together to quickly source and build intelligent, flexible, digital procurement solutions.

Solving the most pressing social, environmental and economic challenges requires new thinking and a new platform for procurement leaders, entrepreneurs and the digital procurement ecosystem.  The ProcureTech platform is home to the ProcureTech100, ProcureTechSOURCE and ProcureTechEXPERTS.

1.  ProcureTech100

The ProcureTech100 is the definitive, global 100 pioneering digital procurement solutions. Created to identify the most innovative and future focused technology, data and analytics companies on the planet; ProcureTech100 champions the solutions that are radically increasing procurement’s impact. ProcureTech100 is being run in association with Kearney, involving over 60 industry leaders and 100s of customer reviews.

2.  ProcureTechSOURCE

ProcureTechSOURCE will be the ultimate marketplace for all digital procurement solutions. With over 4,000 technology, data and analytic solutions, this intelligent platform will facilitate faster, smarter matching of buyers and vendors.

Validated reviews and sophisticated search capability enables buyers to search, source, compare and connect with the best digital procurement solutions for their business needs.

3.  ProcureTechEXPERTS

ProcureTechEXPERTS is a dynamic network of digital procurement experts deploying integrated and agile approaches.  Contact us to find out more.

A ProcureTech profile has already been created for your company. Initially your profile will be analysed and then reviewed by ProcureTech100 panellists to assess the solutions shortlisted for ProcureTech100. Your profile will also be on ProcureTechSOURCE, where it will be viewed by buyers to compare, source and select digital procurement solutions.

There is, if you have any technical questions please send a message to: support@procuretech.co

Please explore our website more or contact the ProcureTech team here.

ProcureTech100 is the definitive, global 100 pioneering digital procurement solutions.

At a time when innovative digital procurement solutions are driving real change and business impact, ProcureTech100 will identify the most forward thinking and customer focused technology, data and analytics procurement solutions on the planet.

 1.  Research ProcureTech Ecosystem

We have already researched the digital procurement ecosystem and identified over 4,000 solutions to be considered for the ProcureTech100.  This ecosystem is dynamic and we will continue to update ProcureTech as it changes.

2.  Create ProcureTech100 Shortlist

From the ProcureTech database we will then apply statistical analysis of over 40 key data points including growth, security, customer, financial and employee data to create the shortlist.

3.  Identify the ProcureTech100

Panellists will review and rank the shortlist, and the panellist’s review will be integrated with the shortlisting data points to create the ProcureTech100.

4.  Announce the ProcureTech100

The ProcureTech100 will be shared with companies and media, and announced at the Procurement Leaders World Procurement Congress.

The ProcureTech100 will be formed from quantitative and qualitative data sets which will be analysed and assessed to identify the leading digital procurement solutions across 14 categories.

We have created initial ProcureTech profiles for over 4,000 digital procurement solutions, using key database intelligence and information from public sources empowered by Craft and Security Scorecard.

Every profile has been automatically entered into the ProcureTech100 selection process. Click here to find your profile. Vendors will be selected for the ProcureTech100 on the basis of an algorithm that considers customer feedback, vendor profile information, vendor growth trajectory, ProcureTech panellist feedback and several other factors.

If a profile has not already been created for you, email us at support@procuretech.co and we’ll sort that out.

The first thing to do is sign up on ProcureTech.co. From there you can claim then edit your profile, enhance your company information and add links to marketing collateral. The more information you provide, the more fully buyers and the ProcureTech100 panellists will be able to understand your company and solutions.

As customer reviews are a key part of the process, we strongly recommend you proactively encourage your customers to complete a review of your solution on ProcureTech.

The panellist assessment process starts at the end of September 2021 so it would be best to enhance your profile before then.

You can either ask customers to complete reviews directly from your profile – click here to find your profile, or customers can complete reviews independently by going to ProcureTech.co directly. Users will be asked to create an account with their personal detail to ensure we have genuine reviews from people and organisations that are using your solution. To incentivise your reviewers we are planting 10 trees for each review so you can make a positive environmental impact by encouraging feedback.

No, there is no charge to participate in the ProcureTech100.

The ProcureTech100 panellists will be able to see your profile in September 2022 only.

Your profile will also be on ProcureTechSOURCE when it goes live, where it will be viewed by buyers looking to find out more about digital procurement solutions, compare and source solutions.

Our categories are designed to cover the full spectrum of digital procurement.

Categories
1.     Analytic, Intelligence
2.     Sourcing & Cost Management
3.     Contract & Legal
4.     Supplier Management
5.     Risk Management
6.     Finance
7.     Source to Pay
8.     B2B Marketplace
9.     Supply Chain
10.   Procurement Process & Performance
Cross-capability categories
11.   Growth
12.   Innovation
13.   Social Impact
14.   Customer Centricity

When you edit your profile, you have the option to indicate which capabilities your solution supports, and this will ensure that you are considered for multiple categories. We also have four cross-capability categories.

June-Sep

Vendors are encouraged to claim and update their profiles and add customer reviews.  Users of digital procurement solutions are encouraged to complete customer reviews.

14 September

Final date for Vendors to edit or add to profiles for consideration in the ProcureTech100 process.  Changes after this date will still feed into ProcureTechSOURCE.

September 

Smart analysis of the proprietary and public data, customer reviews in conjunction with the vendor profiles to create short-listed digital procurement solutions. Independent panels will review the short-listed digital providers in each category.

October 12

The ProcureTech100 will be announced at the Procurement Leaders World Procurement Congress and shared across multiple media channels including a digital brochure.

Our independent selection panel is made up of over 60 high profile experts including CPOs, CIOs, Venture Capitalists and analysts – all passionate about digital procurement. These include procurement and technology leaders from global organisations including BT Sourced, Teva, Time Warner, The World Bank, Dyson, Nestlé,  Vodafone, Castrol, Sainsburys, MTN and Uber. We also have a number of venture capitalists who specialize in procurement/B2B/enterprise software that include Notion Capital, Maersk Growth, Accel-KKR and Paua Ventures. To view and connect with all of our panellists check them out here.

The ProcureTech100 is being run in association with Kearney who are providing independent digital procurement advice. Craft and SecurityScorecard are providing unique, proprietary data points to empower the ProcureTech100 process.

At an event TBC, look out for details on our social channels.

Being named as one of the ProcureTech100 will position your solution amongst the 100 pioneering procurement technology, data and analytics solutions on the planet.

  • It will distinguish your solution amongst the many other providers in the marketplace.
  • Create awareness of your solution amongst the 1,000s of buyers who are actively looking for intelligent, flexible solutions to enhance their procurement function.
  • Ensure visibility amongst the wider procurement community including media and investors.
  • Support and enhance your marketing, both on our platform and through your own channels, by attaching the ProcureTech100 award to your solution.
  • Gain recognition for your team and inspire other digital procurement leaders.

No. All vendors have an equal opportunity to participate in the ProcureTech100.

It’s an annual process.

Email us at hello@procuretech.co and we’ll get back to you as soon as we can.

Basic profiles for organisations have been made up of information in the public domain. We encourage vendors to add to their profiles to ensure a) they present a profile to the marketplace b) to present data to be involved in ProcureTech 100. We cannot force vendors to complete their profiles but want to represent all vendors in the marketplace to potential buyers.

Please explore our website more or contact the ProcureTech team here.

ProcureTechSOURCE will be the ultimate platform for all digital procurement solutions. With over 4,000 technology, data and analytic solutions, this intelligent platform will facilitate faster, smarter matching of buyers and vendors.

Validated reviews and sophisticated search capability enables buyers to search, source, compare and connect with the best digital procurement solutions for their business needs.

All digital procurement solutions can participate on the platform, we already have over 4,000 companies involved.  Check if your company is already on ProcureTech, if not its quick to get you registered.

Once you are registered, you are automatically included for consideration in the ProcureTech100, you can update and manage your profile, gather customer reviews and more.  When ProcureTechSOURCE goes live, buyers will be able to find you on the platform when there is a match to their search requirements.

There are opportunities for vendors to increase their profile and buyer engagement by sharing case studies, white papers, reports and adding more team members to the platform.  To find out more about the different subscription levels just register as a vendor here.

When ProcureTechSOURCE goes live buyers will be able to use the platform to search, source, compare and connect with the best digital procurement solutions for their business needs.  Buyers can already access resources and complete customer reviews.

Please explore our website more or contact the ProcureTech team here.

ProcureTechEXPERTS is a dynamic network of digital procurement experts deploying integrated and agile approaches with clients and digital procurement solution providers.

If you are looking for expertise to accelerate your digital procurement journey, please contact the ProcureTech team here.

We are growing the network of ProcureTechEXPERTS and it would be great to hear from you if you have specific experience in build digital procurement solutions for clients.

Please explore our website more or contact the ProcureTech team here.

ProcureTech SCOUT is ProcureTech’s scouting process to help corporates find new digital procurement solutions. The process provides faster smarter matching to bring corporates and digital procurement solutions together.

A – Sharing your challenges

Establishing the challenge statement

  • Develop the challenge statement through consultation with key client stakeholders via discussion groups / workshops
  • Confirm the completed challenge statement is accurate

 

B – Selecting Solutions

Develop a solution list

  • Scout potential vendors for the project opportunity
  • Advertise the challenge and encourage potential vendors to put forward their solution
  • Consult with industry experts to gain knowledge on leading solutions for the challenge statement & problem
  • Confirm final list of identified solutions

 

Curate the full solution list into a shortlist

  • Stakeholders evaluate solutions as a collective and narrow down the selection to a short list of vendors

 

Final solution selection

  • Top ranked vendors are invited to present their solution offering through an interactive session where the key stakeholders can take part
  • After all the presentation sessions a solution is selected to engage for a pilot programme

 

C – Pilot programme

Collaboration discussions

  • A pilot planning and preparation session is conducted to establish how the collaboration between the client and vendor will work and to agree on any additional required details

 

Pilot Programme

  • A pilot programme of an agreed scope and KPIs is run to ensure the solution can provide value to the business and the client and vendor can work well together

ProcureTech facilitates the scouting and selection process by collecting vendor information, performing pre-selection checks, and advising the client on past experience where available.

Applications will be confirmed by an automated email confirming your participation. You should expect to hear back no earlier than 10 working days after the close of the deadline.

Once all applications have been received ProcureTech will review entries and provide the client with a ‘longlist’ of vendor applications that they can review for selection.

A shortlist of vendors will be selected based upon best fit to solve the challenge and will be invited to attend a presentation day so the solutions can be presented and demoed to the client.

Your company, if selected, along with a shortlist of other vendors will pitch and demo your solutions to the client. From here the client will make the final selection.

If you pass the selection for the presentation day your solution will be on a shortlist of other vendors.

Where possible it is our intention to provide some feedback to unsuccessful vendors.

Please email us here: hello@procuretech.co

The ProcureTech ACCELERATOR is the only procurement accelerator programme on the planet.

Our fast-track 7-week programme connects the world’s leading procurement teams with innovative digital procurement solutions. We bring together innovators, senior procurement and technology executives and investors to address specific enterprise challenges with digital procurement solutions.

We are now accepting challenges from leading procurement companies and applications from digital companies  that have pioneering procurement technology, software and analytical solutions that solve these challenges.

From sustainability to disaster recovery and new product development to cost engineering and complex supply network management, procurement’s opportunity to create value is unprecedented. Without digitalisation this value will not be delivered at the speed and scale that is needed.

Through the ACCELERATOR, leading corporations and digital solution providers

  • Create high performing digital procurement partnerships
  • Amplify and accelerate collaboration to co-create
  • Share collective experiences and insight
  • Optimise use of scarce resource
  • Increase the speed of innovation adoption
  • Learn and build out their own innovation capabilities
  • Create stronger more successful solutions
  • Get ready to scale fast!

For corporates looking for digital procurement solutions, then share your challenges with us and we’ll get in touch to understand the brief and agree which ACCELERATOR to involve you in.

If you’re a company with an innovative digital procurement solution which addresses one of the challenges, then this programme is for you, check out the challenges here! To stay connected with future challenges then keep your profile on ProcureTech up to date and subscribe to ProcureTech SIGNALS.

The ACCELERATOR programme is ideal for businesses with enterprise-ready software solutions for procurement and supply chain teams, and teams with proven drive and determination, and delivering strong growth.

We’re looking for big ideas that meet our challenges and have the potential to digitally transform procurement.

ProcureTech ACCELERATORs are run by ProcureTech, in collaboration with co:cubed and digital procurement leaders from the digital procurement ecosystem. We’ll involve experts in masterclasses and allocate corporate mentors and expert coaches throughout the ACCELERATOR.

Our ACCELERATOR programmes are typically 7 weeks long and the next one starts in September. Demo day is likely to be in December.

Challenges are reviewed from corporate partners to be included in the ACCELERATOR, and where possible synergies are sought. These challenges are then shared and ProcureTech scout to identify potential solutions for the challenges, as well as receiving applications. The longlist of applicants will be analysed with the corporates to create a shortlist that best fit the challenge requirements. These digital solutions will be invited to a pitch session where they can demonstrate their solution and capabilities. We then decide which solutions will join the ACCELERATOR programme. For those that aren’t selected, we will provide feedback and included in future relevant initiatives.

This is a virtual programme, with global participation, providing corporate partners and innovative digital solutions with the environment to connect, collaborate and co-create.

Digital solutions providers will receive:

  • unparalleled access to potential future customers
  • extensive mentorship, procurement leaders sessions and a collaborative environment
  • expanding digital procurement solutions, ‘go-to-market’ plans and pitch
  • demo and showcase days amplifying engagement beyond the ACCELERATOR
  • fast track to first successful projects with corporate partners
  • mentoring by procurement leaders

 

Corporate partners will receive:

  • access to the best of innovation
  • curation of solutions with high potential to meet your challenges
  • digital procurement immersion combined with solution co-creation
  • shared, collective intelligence and experience
  • future proof your procuretech stack
  • solutions built for scale

After the programme, projects are kicked off between corporates and digital solution providers.

Participants also become part of our alumni network, building your place in the digital procurement ecosystem.

The ProcureTech ACCELERATOR is the first and only accelerator focused exclusively on procurement and supplier management. The programme is deep in digital procurement experience and insight sharing. Co-creation is at the core of the programme, from solutions to the structure of first projects / proof of concepts. It’s a very agile programme, built for successful progression from pilot to partnership. The programme creates stronger, smarter digital procurement partnerships. No equity is required from digital solution providers to participate.

The ACCELERATOR is industry and sector agnostic, we focus on our corporate partner challenges, challenges which when they are solved create real impact.

You want to join the ACCELERATOR? Great! We are excited to be taking applications now! Check out the ACCELERATOR webpage here where you can submit your digital solution, or sign up as a corporate partner and share your challenge.

ProcureTech also work with corporates and digital procurement solutions across a number of areas from digital procurement strategy and transformation map to the specification and selection of digital procurement solutions. Follow this link to see more about ProcureTech EXPERTS.

ProcureTech SCOUT is our tailored approach to scout, source and scale new digital procurement solutions for corporates. The process provides faster smarter matching to bring corporates and digital procurement solutions together.

For any additional questions, please email the ProcureTech team at hello@procuretech.co