Twice a year, ProcureTech , the London-based provider of digital procurement management solutions, hosts its prestigious Founders' Circle. This event brings together founders, CEOs, B2B investors, and procurement leaders for a dynamic session focused on innovation, collaboration, and discussions around digital procurement. Through panel discussions and keynote addresses, participants share invaluable insights into digital innovation and the evolving landscape of procurement. ProcureTech ensures that some attendees are interviewed, offering deeper perspectives on digital procurement trends or highlighting the unique aspects of their solutions. This year, our co-founder, Nicolas Neubauer, was also featured in an interview, providing insights into our company's approach to digital procurement.
Can you tell us a little bit about your solution? Our solution combines traditional spend cube analysis with advanced analytics and data-driven recommendations by incorporating external data sources and third-party systems . What is more, our platform provides organizations with a more strategic, holistic view of their spend, enabling smarter decision-making.
What procurement roadblocks is your solution solving? It addresses the challenge of disconnected data across multiple systems, a common pain point in procurement. Instead of users manually gathering and analyzing this data, our platform connects these systems seamlessly. It proactively notifies users of strategic actions they can take, such as cost-saving opportunities or supplier optimizations.
How has the technology evolved to adapt to changing user needs? Initially, our focus was on helping clients achieve commercial goals, particularly cost savings. However, as the landscape has shifted, our clients have asked us to incorporate environmental considerations like CO2 reduction and ESG . This dual focus ensures that businesses can meet both their financial and sustainability goals.
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What are the key elements of successful digital procurement partnerships? Successful digital procurement partnerships hinge on a deep understanding of both the challenges faced and the solutions required. Clear communication around expectations, coupled with strong stakeholder and project management,
How can organizations scale digital faster in procurement? Once the objectives and goals are clearly defined, it’s important to move quickly into implementation. Many organizations overcomplicate the process, but early alignment and a focus on execution are crucial to gaining momentum and scaling digital initiatives faster.
About ProcureTech ProcureTech is a London-based company, founded in 2021, that provides digital procurement management solutions. It offers tools and platforms aimed at transforming procurement processes for businesses, using data and intelligence to help them select and manage suppliers more efficiently. Their services include strategy labs, scouting, digital accelerators, and centers of excellence. ProcureTech also curates the "ProcureTech100," a list of innovative procurement technology companies, and organizes various events and ecosystems to support corporate buyers, investors, and tech providers
