The Procuretech Podcast: Digital Procurement, Unwrapped

Procuretech, unwrapped: A podcast for procurement visionaries and futurists

Author: James Meads

Procurement software, or "Procuretech", is a game changer. A key enabler and driver of rapid change in the profession. Want to find out how to significantly improve your operational efficiency and enable more to be done with fewer resources? This show is for Procurement, Purchasing, Supply Chain and Finance professionals, as well as C-Suite executives. We showcase all the best new software and bring you the latest trends and thought leadership from both myself and other industry leaders. We'll show you how technology can drive a competitive advantage. Show notes and further info available at: https://procurementsoftware.site/podcast Follow us on LinkedIn https://www.linkedin.com/company/procsoft Connect with me at: https://linkedin.com/in/james-meads/ Book an intro call here: https://calendly.com/jamesmeads/30-minute-intro-call
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Language: en

Genres: Business, Management, News, Tech News

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How much does procurement tech actually cost?
Episode 10
Tuesday, 14 May, 2024

This week on The Procurement Software Podcast, host James Meads explores different price points for procurement technology applications. James discusses software options costing less than $20,000 to $25,000 per year, those ranging from $25,000 to $75,000 annually, and higher-end solutions. Tune in to discover what each price point can offer your procurement team and how to make the most of your tech budget. How much do digital procurement tools cost? In this episode, the focus is on the broad spectrum of procurement technology solutions available across various price ranges, catering to different organizational needs and budgets. For those with a budget under $20,000 per year, niche-specific software designed for SMEs offers basic yet modern e-sourcing and spend analytics capabilities. Mid-market organizations with a budget between $25,000 to $75,000 per year can access more comprehensive e-sourcing solutions, AI-powered spend analytics, and full-featured procure-to-pay software, along with supplier relationship management platforms. For budgets exceeding $100,000 per year, top-tier procurement technologies become available, including full e-sourcing suites, advanced spend analytics, complete source-to-contract suites, and AI-powered automation for tactical and tail spend. The episode emphasises the importance of aligning procurement technology investments with organisational budgets and the need to enhance procurement processes and drive digital transformation within the procurement function. Timestamps: [00:02:24] Procurement tech on a budget. [00:05:05] Accounts payable workflow automation. [00:06:19] Procurement Tech for $25,000 to $75,000 per Year [00:09:00] Premier League of procurement technology. [00:12:08] Digital procurement introduction. And that wraps up another episode of The Procurement Software Podcast! Thanks again for listening, and do please leave us a review on Apple Podcasts or rate us on Spotify. Every one helps! We'll be back at the same time next week, so see you there. If you want to learn more about Procurement Software, check out the useful links below. Stay in touch! Sign up for the Procurement Software Newsletter Book an Intro Call and let’s talk all things Digital Procurement! Connect with James on LinkedIn Follow Procurement Software’s LinkedIn Page