2023 ProcureTech SIGNALS Issue #1

2023 ProcureTech SIGNALS Issue #1

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Happy 2023!

We’re buzzing to welcome a new year focused on the ever-changing landscape of procurement. So much so, that we’re starting with our ProcureTech Predictions webinar on Thursday 19th January at 3pm GMT where we’ll present key trends identified by the 2022 ProcureTech100 – we look forward to seeing you there!

This week, we start off by looking at the new AI kid on the procurement block: Generative AI. What is it and why is it so controversial?

We’re spotlighting the last categories from the 2022 ProcureTech100: Supplier Management and Sustainable Procurement, where solutions define and deliver new value for teams, and address impact across ESG driven pillars.

Forget AI – 2023 is the year of Gen-AI

During the euphoria of OpenAI’s ChatGPT programme official launch at the end of 2022, we used it to write a blog post with surprising results.

Now at the beginning of what’s anticipated to be an exciting, fast paced year for procurement and technology, we take a look at the future of the Generative AI landscape. There’s no denying that autonomous technologies like Gen-AI can save great amounts of time for teams. But what is it? And why is it so controversial?

Learn more about new kid Gen-AI on the procurement block.

Supplier Management – 2022 ProcureTech100 pioneers

Portals. Embedding AI and automation. Low code platforms.

The Supplier Management category focus is defined by the customers for each company, whether the focus is commercial, collaboration or contractual. Suppliers and customers are chasing the network effect as both sides seek to reduce administrative burden through leveraging standardised supplier due diligence, vetted by peers on the network. Supplier management solutions are defining and delivering new value for more mature procurement teams, typically as an integrated information and intelligence hub. 

Sustainable Procurement – 2022 ProcureTech100 pioneers

ESG. Supply Chain Visibility. Traceability. Integration. 

The Sustainable Procurement category is defined through the solution capabilities that address a corporates supply chain impact across ESG driven pillars:  

  • Supply chain traceability & provenance 
  • Emissions tracking and offsetting 
  • Enterprise sustainability management  
  • Assessments, audits and reporting 
  • Supply chain transparency  
Learn more about the Sustainable Procurement category here.


The news that matters this week…

💰 CLM leader SirionLabs secures $110m Series D funding

🌍 OneTrust: digital trust and embedding ESG transformation into the future enterprise

💪 Raconteur suggests how you can take your digital transformation strategy to the next level

✅ The 6 core elements of a good Vendor Management process according to Certa

🇪🇺 When the “EU has set standards that cannot be met”, what do you do? A conversation with RepRisk’s CEO

📖 ProcureTech100 2022 Yearbook – get your FREE copy now!


The must-attend digital and procurement experiences…

🎉 SCM Lecture: Lead-time and demand forecasting Lokad 11 January

🎉 Empowering procurement transformation with trusted supplier data TealBook 12 January

🎉 2023 Predictions & Purpose ProcureTech 19 January

🎉 Successful strategies to combat inflation and preserve profitability Ivalua 9 February

🎉 Big Ideas Summit Procurious 9 March London

🎉 ProcureTech PIONEERS 2022 ProcureTech Request access to the recording

🎉 Hosting any events in 2023? Let us know!


This week’s podcast…

🔎 The Radical Reinvention podcast welcomes Unilever’s CPO, Willem Uijen, who discusses how companies can create resilient and responsible global supply chains using digital roadmaps. Listen here 🎧

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