“Why does procurement exist? Because we needed to put controls in place to make sure that end users aren’t buying stuff in inappropriate ways. As you automate, you’re going to be able to give more of that procurement responsibility back to the end user, but here are some guide rails to allow you to do that in the right way, using smart intelligence to protect you from making mistakes.” –Chirag Shah, Founder of MarketMaker4 and Executive Chairman at Simfoni
Entrepreneurs have a unique way of looking at the world. They identify gaps that need to be solved, and develop solutions so strong they create a brand new competitive advantage. This is even more true of ‘serial entrepreneurs,’ because they have perfected the ability to spot the opportunities to revolutionize how we live and work.
In 2021, Art of Procurement collaborated with BT Sourced, the procurement services group of BT, to produce a hybrid in-person and virtual event called Dare to Discover: Reaching New Heights for Procurement. This episode of the podcast is one of two panel sessions recorded at that event – the other recorded session will be published soon.
The panel was brought together to discuss (and debate!) some of the ‘big bets’ that have been made to spur procurement innovation. Charlie Clark founded Rosslyn Data Technologies and Darkbeam, Ulf Zetterberg founded Seal Software and Time is Ltd.; and Chirag Shah founded MarketMaker4 and is now Executive Chairman at Simfoni. Towards the end of the discussion, they pulled Adam Brown, Head of the Procurement Digital Garage at BT Sourced, up out of the audience to add in his perspective.
During this one-hour session, Moderator Philip Ideson asks the guests:
- About at least one big bet they are willing to make about the future of procurement innovation and the personal perspective or philosophy underpinning that bet
- The difference between enabling technology and infrastructure technology in terms of ROI and in what level of engagement is asked of users and beneficiaries
- The responsibility that employees and employers now have to protect corporate assets against the risks of the digital economy