Coupa Software Keynote at PSC LIVE London 2024

Taking to the stage at Procurement & Supply Chain LIVE London Global Summit, Michael Van Keulen, Chief Procurement Officer at Coupa Software, delved into the impact AI is having on the procurement industry.

He opened his session by reflecting on his extensive procurement career, which spans over 25 years and includes roles at organisations like Lululemon and VF Corp. 

Drawing from his experiences, he explored how AI and technology could streamline procurement processes, helping businesses evolve from traditional methods to advanced, integrated systems. 

In his words, “AI is the topic of today…how can technology help us mature our procurement function?”

He introduced Coupa’s role in this transformation, noting that its platform supports “over 3,000 customers all across the globe and across industries” and manages “over $6 trillion” - a dataset that serves as a backbone for Coupa’s AI-powered tools.

Addressing AI’s opportunities and risks

Michael highlights the double-edged sword of using generative AI tools like ChatGPT in professional settings, particularly in sourcing and supplier management.

He poses a critical question to the audience: “How many here in the room have validated with your head of global risk and compliance that you are allowed to use ChatGPT?”

While some raised their hands, the response was telling—most had not. 

This, Michael stresses, illustrates a vital gap in ensuring data security and validating AI-generated outcomes.

Through practical examples, Michael showcases both the potential and the limits of AI: “There’s no such thing as AI without numbers,” he notes while cautioning against relying on unverified public data sources.

He explains how Coupa ensures its AI capabilities are trained on anonymised, community-sourced data, offering reliable, actionable insights.

Advancing procurement maturity through technology

Michael delves into the maturity levels of procurement functions, illustrating how organisations can leverage technology to advance. 

He explains that procurement maturity is not just about technology but the “power of people, processes and technology and how can we transform our procurement functions together.”

Michael underscores the importance of unified platforms, saying, “How can I have one single source of truth?”

He explains Coupa’s AI capabilities in action, such as automating contract redlining based on supplier risk profiles and identifying potential fraud patterns.

Moving from cost-saving to strategic impact

Michael concludes with a compelling call to action: make procurement relevant to stakeholders by aligning its impact with top-line outcomes. 

Recalling his time at Lululemon, he shares how he translated procurement savings into relatable metrics - “how many black stretchy yoga pants do we have to sell to achieve the same amount of bottom line impact.”

“It doesn’t always have to be about savings,” he says, “It could be the acceleration of strategic objectives, de-risking your supply chain, business continuity, things that your shareholders might care about such as diversity, which is always a hot topic or compliance to regulatory requirements. This is really where you start to start to become like a competitive edge.”

In closing, Michael encourages attendees to embrace AI as a tool, stating, “Technology is here. Let's harvest it. Let's leverage it. Let's embrace it.”

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