617: The Care and Feeding of the Procurement Startup Ecosystem w/ Jack Freeman

617: The Care and Feeding of the Procurement Startup Ecosystem w/ Jack Freeman

"There are two ideal profiles for a procurement founder … you have industry veterans that live the problem, feel the pain, go out and create a solution to solve that pain. That's been a tale as old as time. … There's also serial entrepreneurs that don't have a procurement background but understand a problem and want to go study it and bring on others to help them."

In recent years, there has been an "explosion" of procurement tech startups. But not all procurement startups are able to reach their full potential.

In this episode from Digital Outcomes 2023, Philip Ideson speaks with Jack Freeman, procure tech investor and Partner at PeakSpan Capital, about the challenges and opportunities procurement tech startups face, particularly in category specialized solutions like SaaS, vertical software, finance, or construction.

Jack shares his perspective on:

  • The most common reasons procure tech startups struggle
  • Strategies for avoiding the most common roadblocks founders and CPOs face when working with or launching young or emerging technologies
  • The skills and background procurement tech founders should develop to successfully raise the capital they need to scale their technologies and go to market
  • The nuances of what makes a successful procure tech founder

Links:

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Episoder(930)

Ep 01: The Agentic Procurement Diaries: Why This Is a Once-in-a-Few-Centuries Revolution

Ep 01: The Agentic Procurement Diaries: Why This Is a Once-in-a-Few-Centuries Revolution

Dear Diary… "I believe we are in the midst of a revolution — and I think in a revolution, we as a vendor also want to invest a lot in educating the community on what's really changing and how it's cha...

16 Sep 34min

883: The CPO Agenda: Scaling AI Beyond the Pilot W/ Darshan Deshmukh

883: The CPO Agenda: Scaling AI Beyond the Pilot W/ Darshan Deshmukh

"It's all about building that momentum, creating the value, testing the hypothesis, and then continuing to challenge us to take it to that next level." Darshan Deshmukh, President at ProcureAbility AI...

14 Sep 49min

EP 016: Startup of the Week: FlockScore W/ Matthew Spencer

EP 016: Startup of the Week: FlockScore W/ Matthew Spencer

"The earlier you can catch risk, the cheaper it is to solve." - Matthew Spencer, Founder of FlockScore Procurement teams have access to plenty of information when evaluating a new supplier, from certi...

9 Sep 26min

882: Reengineering Procurement for Greater Impact W/ Polly DeSouza

882: Reengineering Procurement for Greater Impact W/ Polly DeSouza

"If you want a seat at the table, you've got to pull up the chair." - Polly DeSouza, APAC Transformation Leader Procurement teams have spent years talking about the need to move away from tactical and...

7 Sep 35min

EP 015: Provider of the Week: Tradeverifyd

EP 015: Provider of the Week: Tradeverifyd

"It's more the translation of visibility. It's not so much visibility. Visibility is there, but it's what do you do with that?" - Mike Prorock, CEO, Tradeverifyd Supply chain risk has become both more...

2 Sep 30min

881: Owning Transformation: How to Successfully Lead Procurement Through Change W/ Gretchen Vance

881: Owning Transformation: How to Successfully Lead Procurement Through Change W/ Gretchen Vance

"Don't ask AI to do something that you don't know how to do yourself." - Gretchen Vance, Vice President Procurement at Forest Lawn Parks and Mortuaries Procurement transformation often comes down to a...

31 Aug 35min

EP 014: Provider of the Week: Sievo W/ Sammeli Sammalkorpi

EP 014: Provider of the Week: Sievo W/ Sammeli Sammalkorpi

"The expectation level of procurement is rising. Today's stuff that was not possible a year ago, that felt like science fiction three years ago, is something that we can create for our customers today...

26 Aug 24min

880: The State of AI in Procurement: Who's Getting the ROI? W/ Nick Heinzmann

880: The State of AI in Procurement: Who's Getting the ROI? W/ Nick Heinzmann

"There's an absolute risk of procurement's role and scope being diminished by AI, unless we embrace new ways of working." - Nick Heinzmann, Head of Research, Zip According to new research from Zip, on...

24 Aug 33min

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