“The ability to harness the power of data at scale has transformed the entire technology industry over the last ten years. Procurement is not excluded from that. Purchasing data, spend data, supplier data – all of this data, it’s the most obvious trend ever slapping us all in the face, but it’s still not where it should be, in my view.”
There has been an explosion of startups and investment interest in the digital procurement space over the last few years. As companies with new and diverse perspectives tackle shared problems in unique ways, the type and variety of ‘best of breed’ options available in the ecosystem broadens as well.
In this week’s episode, we bring you a session from our recent AOP Digital Outcomes 2022 virtual event. Philip Ideson was joined by Jack Freeman, a Partner at PeakSpan Capital, to talk about the tech trends he is seeing – and how lasting he thinks they will be.
Key takeaways from the interview include:
- The pace of change within procurement, and how well that matches the pace of change in enterprises and markets
- How he sees the battle to be the ‘single source of truth’ playing out
- Ways that today’s technology is pushing processes to adapt, and improving the user and supplier experience in the process