Exclusive Video: Jim Townsend, CPO - P&SC LIVE 2023
As the world’s fastest-growing procurement and supply chain event, Procurement & Supply Chain LIVE 2023 was a disruptive learning and networking event that showcased some of the industry’s top speakers across innovation, thought leadership and strategy.
ProcureTech – Selling Tech to Procurement
Setting the stage for an open discussion, Jim Townsend, former CPO of Walgreen Boots Alliance and seasoned procurement professional discussed the process of selling ProcureTech to the procurement industry.
With the procurement technology market largely saturated and slow in growth, Townsend explained that this has led to increased investor scrutiny and hesitation among buyers.
"There are 5000 procurement technologies that they're all trying to sell to me,” noted Townsend.
He added: "What you've got to think about is what shifts the value needle for my business and which one of those products will do it best.”
Speaking the same language
When it comes to pitching technology solutions to buyers, Townsend highlights the need to speak the same language as the organisation.
It’s important to be able to articulate how a solution will benefit the company’s performance, compliance, top/bottom lines, and other critical aspects.
As such, it is important to understand the buyers' diverse levels of procurement maturity, with some organisations valuing procurement as critical to their businesses and others considering it trivial.
He cautioned against preaching that procurement technology is the only solution and stressed the need for a holistic approach to addressing business challenges.
"The procure tech companies are not always reading the signals right about the buyer,” he added.
To watch any of our other speakers from Procurement & Supply Chain LIVE 2023, click here.
Don’t forget to register for our future events including Manufacturing LIVE 2023, Procurement & Supply Chain LIVE Dubai 2024 & Procurement & Supply Chain LIVE London 2024.
Celebrating exemplary achievements in the fields of procurement and supply chain management, the Supply Chain AWARDS - debuting in 2024 - acknowledges companies, professionals, and projects that demonstrate exceptional performance, innovation, and strategic thinking. Click here, to find out how you can enter.
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Other magazines that may be of interest: Supply Chain Digital, Manufacturing Digital
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