ProcureTech SIGNALS 2022 Issue #3

Welcome to ProcureTech 's weekly LinkedIn newsletter!

People, Planet & Prosperity:  the ProcureTech100 pioneers share what solutions and trends they expect to see in 2022 as more companies prioritise sustainability goals whilst continuing to deliver value beyond cost savings in procurement 🚀 

Cervest's 2021 Intelligence Outlook report focuses on over 800 UK and US decision makers' responses, revealing how they are adapting their climate strategies to minimise risk. Technology plays a big part in pinpointing strategies, but what about their budgets? 💰

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People, Planet and Prosperity predictions from the ProcureTech100 pioneers 🌍

The predictions from the ProcureTech100 were focused on 4 main themes: 1. Digitalisation 2. Intelligence 3. People, Planet and Prosperity and 4. Organisation 

The great triple bottom line: these predictions focus on the table stakes and practices that leading organisations are deploying. Hear from the pioneers as they share how they expect digital solutions to meet ESG needs and prioritise sustainability goals as businesses look to deliver value beyond cost with procurement.

Take a look at the People, Planet & Prosperity predictions here.

Top 10 predictions for 2022 📊

Based on the ProcureTech100's predictions, we asked attendees to vote for what they thought would be a top focus this year. 

With top votes from each category, we share what looks set to be key in the changing space of procurement. Improved experience; flexible solutions; more focus on ESG and supply chain transparency.

Which ones should we look out for this year?

Find out which Predictions were voted as the top 10 here.

83% believe climate volatility poses a 'medium to significant' risk to their business bottom line ⚠️

How are corporate leaders shaping climate adaptation strategies today? Where are budgets being allocated?

Cervest's 2021 Climate Intelligence Outlook report looks at more than 800 US and UK decision makers' responses and how their perspectives affect climate-related strategies in large organisations. Companies are using technology to pinpoint strategies and mitigate climate risk, but how do the nations across either side of the pond compare in terms of budgets - do they have enough to tackle the risks?

Read more about the Cervest report here.

News

The news that matters this week

🤝 ProcureTech100 pioneers Craft.co and The Smart Cube partner up to enhance access to supplier market intelligence procurement and supply chain professionals

💰 Procurement enterprise software platform Penny Software raises $5m in seed funding to help businesses digitise into a data-driven platform  

🚖 Uberization of procurement: Simfoni explains how an uber-approach to procurement can help companies drive value by implementing a digital transformation  

👩⚖️ Onit looks at how legal departments can reap benefits from digital transformations 

💸 Contract lifecycle management platform Ironclad raises a further $150m in Series E funding = $3.2bn valuation! 

🌍 Over 240 solutions in the Sustainable Procuretech Ecosystem, created with the Sustainable Procurement Pledge

Experiences

The must-attend digital and procurement experiences...

🎉 Social Procurement: Why and how it fits with sustainable sourcing strategies The Sustainable Procurement Pledge 26 January

🎉 The future of sourcing negotiations Archlet 27 January

🎉 Rethinking the Procurement Operating Model to drive stakeholder success Beroe 1 February

🎉 Global virtual inventory optimization and governance for your spare parts Creactives 2 February

🎉 10 tips to build cool & quantifiable ESG assessments Kodiak Hub 10 February

🎉 Global Supply Chain Summit FourKites 9 March

Podcast

Check out the featured podcast.

🔎 Chris Kaiser, Sales Team Lead at scoutbee, reveals why procurement should increase its focus on value creation to enable strategic choices, and be proactive instead of reactive to better its chances of success. Listen here 🎧

If you enjoyed this newsletter, then please share with your peers and friends, more collaboration and conversation = more inspired action!

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As usual, we'd also love to hear your wisdom, feedback and suggestions on any 'hot' 🔥 digital procurement topics or events you'd like to hear more about or to share.

The ProcureTech Team