🏖️ Welcome to the August edition of SIGNALS.
This month we bring you the latest trends reshaping the procurement landscape, from AI use cases to sustainable sourcing strategies:
- The 2024 ProcureTech100. Last call, be sure to submit your digital solution by the 16th August!
- How to evaluate your organisation's AI maturity? In collaboration with ZIP, we have released a guide on transforming procurement with AI covering AI's current use cases and how to evaluate your maturity
- Missed the ProcureTech x nnamu webinar? Watch the discussion with industry leaders here
- What are your organisation's best practices for navigating AI? Don't forget to register for our live webinar on AI in procurement on the 28th August.
"Every step of the process can be enhanced by GenAI; it's an ongoing evolution." Marc Ofiara, Lighthouse Lead Category Management, Bayer
Source: ProcureTech x ORO: Power Procurement Orchestration, 2024
📄 Whitepaper : AI in Procurement, A Pathway for Progression
The future of procurement is here
This comprehensive whitepaper produced by ProcureTech and Zip is designed for procurement leaders, financial executives, and IT innovators seeking strategies to transform procurement with AI. Read about AI uses cases and how to understand your own organisation's maturity in using AI.
With insights from leaders at the Coca-Cola Company, Mastercard, Shell, Snowflake, and more, this guide will help you benchmark your processes with an expertly crafted framework.
"AI will be used to amplify our capabilities. But, procurement is still more or less a human business. You need to negotiate with your internal stakeholders, you need to negotiate with your supplier. I don't see, in the short-term, that AI will replace category management, risk management or interactions with the board."
Fulden Sener, CPO and Head of Global Supply Chain Management, Rieter
🎤 Thought Leaders
ProcureTech GENERATION: The Digital Procurement Summit
Hear from Joel Hyatt, CEO and Co-Founder of Globality, as he opens up about how digital procurement is set to change the way organisations operate:
1. What will the impact of GenAI be on procurement?
2. What will be the next big digital innovation in procurement?
3. What key talent changes are required in 2024 to enable digitalisation?
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🔍 Want to know more about the ProcureTech100 selection process?
Our selection process is independent, robust, inclusive and data-driven. We utilise proprietary databases and 20+ additional sources across multiple datasets refreshed on a continuous basis. This includes information from solution providers and thousands of data points encompassing growth, security, customer, financial and employee data. Our process spotlights iconic solutions that are rapidly and deeply integrating AI to drive transformation in procurement.
As a reminder, if you are a digital procurement solution provider be sure to submit your digital solution by the 16th of August.
🎥 Register for our PIONEERS webinar where we will announce the 2024 ProcureTech100
❓For further questions, visit ProcureTech100 FAQs
🎧 Podcasts
In this latest episode, Evan Smith, CEO of Atlana speaks about how Altana invests in capital, and how global business leaders need to be reorganising their businesses around value chain networks in order to succeed in an increasingly volatile, complex global economic and geopolitical environment.
📖 Book of the Week
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Back in our STARS interview with Malin Schmidt, Founder and CEO of Kodiak Hub recommends diving into Good to Great by Jim Collins. It's a timeless management classic that continues to offer valuable insights for business leaders striving for excellence.
Read the interview📰 This week's headlines
- Altana closes $200M Series C to Enable Public and Private sectors to Take Command of Global Value Chains
- Procure Analytics acquires DSSI
- Exiger acquires aDolus to Enhance Software Supply Chain Visibility
- Vanta raises $150M in Series C Funding at a $2.45B valuation
- ChemAnalyst: Why Analytics are Paramount for Procurement
- Flywire acquires Invoiced, Global B2B Payment Network
- Exiger acquires proprietary parts intelligence company XSB
🗓 Key dates
Events to add to your calendar:
- The 2024 ProcureTech100 Submission, August 16
- TealBook + Google: No Data, No AI: Bringing AI Powered Procurement to Life, Virtual Event, August 27
- AI in Procurement: A Pathway for Progression , Virtual Event, August 28
- CIPS Excellence Awards, London, September 18
- ProcureTech GENERATION: The Digital Procurement Summit, London, September 2
- ProcureCon EU, Barcelona, September 17-19
- Zip Forward, San Francisco September 25 2024
- ProcureTech Founders' Circle, London, October 3
- DPW Amsterdam, Amsterdam, October 8-10
The ProcureTech Team
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