S2P & Vendor Management in Energy Sector - Praveen Kalamegham from Workrise

In this special Christmas episode of The Procurement Software Podcast, we celebrate the end of 2024 with a roundup of the latest developments in the procurement technology space.James shares insights on the evolution of the industry and presents predictions for 2025 in the "state of procuretech address."Whether you're enjoying a festive meal or relaxing during the holiday season, this episode aims to educate and inspire professionals about the exciting changes shaping the procurement landscape.2025 Procurement Software Market PredictionsThis week, James announces a change for The Procurement Software Podcast coming in 2025. We're shifting from weekly podcast episodes to a dynamic weekly newsletter, which will also house a couple of subscriber-only podcasts. Plus, we're keeping The Procurement Software Podcast too with monthly, open access episodes.A key focus of the newsletter will be audience segmentation.Procurement practitioners and tech professionals have distinct needs, and this tailored approach ensures we put out content that resonates with both groups individually. Expect insights that are specific, actionable, and engaging.While podcast episodes will become monthly, the emphasis will shift to producing high-quality, in-depth discussions on key topics. This ensures every release is impactful and well-researched.Finally, audience feedback will play a central role in shaping this new chapter. By aligning with listener preferences, the podcast evolves into an even more valuable resource for its community.Stay tuned as Procurement Software Podcast embraces this exciting new direction!Timestamps:[00:02:03] Weekly newsletter transition announcement.[00:08:59] Procurement tech warning signs.[00:12:51] Agentic AI in procurement tech.[00:17:27] B2B marketplaces' future relevance.[00:21:06] AI's impact on procurement roles.[00:26:58] AI in document analysis.[00:31:20] Build versus buy debate.[00:33:30] Software buying versus building.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!Download our Tech Map for EnterpriseDownload our Tech Map for Mid-MarketDownload our Tech Map for SMEsFind your perfect procurement tech solution in our Software Finder appSign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedIn

In this episode of The Procurement Software Podcast, host James Meads welcomes Gregory Vider, co-founder and CEO of Apadua, to discuss their recent Indirect Procurement Days invite-only mini conference held near Frankfurt, Germany.Their conversation delves into the benefits of networking in a more intimate setting compared to larger conferences.Tune in to explore how these innovative events could shape the future of marketing in the procurement space.Private Events as a Marketing StrategyThis week, Gregory explores the rise of micro events and their unique role in transforming procurement marketing. These intimate gatherings offer a fresh alternative to traditional conferences, prioritising personal connections and meaningful engagement.Gregory highlights how micro events, like Apadua’s recent gathering at the Villa Rothschild in Königstein, create a relaxed atmosphere for attendees to connect. Through informal settings—such as a “kitchen party” with tapas and self-serve drinks—participants can engage in deeper conversations and build lasting relationships.A key insight is the focus on community-building. By bringing together satisfied clients and potential customers, Apadua fosters authentic interactions that extend beyond the event itself. Gregory explains how this approach strengthens emotional connections with the brand, laying the groundwork for trust and loyalty.Another advantage? Micro events offer cost-effective solutions while giving organisers complete control over the attendee experience. This enables companies to align the event’s structure with their values and goals, ensuring a more targeted and impactful outcome.By reimagining networking through micro events, Gregory demonstrates how companies can create memorable experiences, nurture relationships, and drive long-term value in today’s dynamic procurement landscape.Timestamps:[00:03:07] Productivity and collaboration platform.[00:04:11] Procurement and stakeholder collaboration.[00:11:41] Kitchen party event concept.[00:12:11] Unconventional event networking experience.[00:17:06] Emotional attachment to software.[00:21:30] ROI from conference participation.[00:25:49] Community building through events.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.&nbsp;Stay in touch!Connect with Gregory Vider on LinkedInCheck out ApaduaDownload our Tech Map for EnterpriseDownload our Tech Map for Mid-MarketDownload our Tech Map for SMEsFind your perfect procurement tech solution in our Software Finder appSign up for the Procurement Software Newsletter<a...

In this episode of The Procurement Software Podcast, host James Meads welcomes Richard Brown from Anvil Analytical to discuss the transformative power of spend analytics in procurement.The conversation explores the evolution of spend analytics technology, highlighting the advancements from previous years and discussing practical applications that can help organisations operate faster, better, and smarter.Tune in to learn how these developments are reshaping the procurement profession and the tools available to help organisations embrace change.Disruptive Spend Analytics and Carbon AnalyticsThis week, Richard sheds light on the growing importance of spend analytics tools, particularly when integrated with consultancy services. This winning combo can optimise procurement strategies across every industry. He highlights how this combination delivers both immediate insights and ongoing value, meeting the evolving demands of procurement professionals.Richard emphasises the critical role of visibility in spending patterns, enabling organisations to identify cost-saving opportunities, negotiate better supplier terms, and make informed decisions. He explains how tools equipped with advanced AI and large language models (LLMs) revolutionise data handling—turning unstructured data, like invoices in multiple languages, into actionable insights.A key insight is the shift from traditional consultancy to integrated solutions. With tools such as Anvil that extend beyond short-term projects, it's helped their parent company 4C to now offer long-term partnerships, fostering trust and collaboration over a longer period.Richard also explores Anvil’s approach to democratising analytics for SMEs, providing cost-effective solutions that meet their unique needs while building sustainable client relationships. This adaptability empowers smaller organisations to unlock the benefits of advanced spend analytics, but without overwhelming their existing processes.By integrating cutting-edge technology with tailored consultancy services, Richard demonstrates how spend analytics can drive immediate value and establish a foundation for long-term success in the dynamic procurement landscape.Timestamps:[00:01:10] Spend analytics in procurement.[00:05:22] Customer demographics in procurement services.[00:09:44] Accelerated sector entry with LLMs.[00:10:36] Unstructured data processing solutions.[00:15:08] Revenue stability through technology.[00:20:00] SME analytics pricing model.[00:22:23] Customer acquisition through procurement tech.[00:24:25] Carbon accuracy pyramid challenges.[00:29:50] Long-term carbon reduction partnerships.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.&nbsp;Stay in touch!Connect with Richard Brown on LinkedInCheck out Anvil AnalyticalDownload our Tech Map for EnterpriseDownload our Tech Map for Mid-MarketDownload our <a...

In this episode of The Procurement Software Podcast, host James Meads explores the critical role of A players in leading digital transformations within procurement teams.He discusses the challenges organisations face in finding the right talent to implement digital procurement tools and emphasises the importance of having experienced and adept change managersTune in for insights that can help drive your organisation's success in embracing technological changes.Why A Players must lead digital transformationsThis week, James delve into the vital role of hiring top-tier talent—or "A players"—to drive digital transformation in procurement. These individuals bring a unique blend of skills in change management, communication, and technology, ensuring that transformation initiatives are successful and impactful.Without the right leadership, digital projects often face resistance, poor user adoption, and a lack of strategic alignment. A players stand out by fostering smoother transitions through their ability to navigate organisational change, address user experience challenges, and manage complex stakeholder dynamics.A key takeaway is the importance of understanding and addressing user adoption barriers. By prioritising the needs of end users, A players ensure that new digital tools are intuitive and widely embraced, avoiding common pitfalls like prioritising outdated systems due to executive preferences.Equally critical is their role in internal communication. Beyond basic announcements, these leaders create engaging campaigns that align diverse teams, ensuring buy-in and enthusiasm for change. Their diplomatic skills are also indispensable for managing resistant stakeholders and aligning departments with broader goals.Finally, digital transformation is a long-term commitment. Hiring A players ensures organisations not only achieve their immediate goals but also build a culture of continuous improvement, enabling procurement to remain agile and strategically aligned in a rapidly evolving landscape.Timestamps:[00:01:10] A players lead digital transformations.[00:06:27] Digital transformation in procurement.[00:08:34] Hiring A players for roles.[00:12:29] Autonomy in leadership roles.[00:16:24] Gig economy and A players.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.&nbsp;Stay in touch!Download our Tech Map for EnterpriseDownload our Tech Map for Mid-MarketDownload our Tech Map for SMEsFind your perfect procurement tech solution in our Software Finder appSign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!<a href="https://linkedin.com/in/james-meads/" rel="noopener...

In this episode of The Procurement Software Podcast, host James Meads delves into a provocative topic inspired by a LinkedIn post from industry commentator Jon W. Hansen.The post claims that 83% of AI initiatives fail and predicts that 75% of AI solution providers will be out of business by the end of 2025.So, is this likely? Tune in as he breaks down these bold claims and offers insights into the future of procurement technology.How many procuretechs will still be here in 2 years?This week, James tackles the pressing question of whether 75% of AI solution providers will truly vanish by 2025, a claim recently made by industry commentator Jon W. Hansen. While some market consolidation is inevitable, James argues that this figure is exaggerated. Many procurement tech companies are thriving by delivering measurable results and adapting to shifting market demands.The discussion highlights how innovative tools are emerging to fill gaps in the market left by underperforming legacy providers. For SMEs and mid-market organisations, this shift is particularly exciting. New solutions tailored to these segments are making procurement tech more accessible and effective, addressing unique challenges often overlooked by traditional players.Sustainability tools also take centre stage, as regulatory pressures drive demand for solutions that help organisations achieve compliance. Additionally, niche-specific platforms are gaining traction, offering tailored capabilities for industries like oil and gas, financial services, and emerging markets.James emphasises that procurement professionals must remain open to innovation, prioritising results over software brand recognition and flagship case studies. By exploring new entrants alongside established players, organisations can uncover solutions that align with their strategic goals and set them up for long-term success.Timestamps:[00:02:21] Procurement tech sustainability concerns.[00:06:31] AI solutions for SMEs.[00:08:11] Emerging markets in procurement tech.[00:12:38] Legacy player risks in procurement.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.&nbsp;Stay in touch!Download our Tech Map for EnterpriseDownload our Tech Map for Mid-MarketDownload our Tech Map for SMEsFind your perfect procurement tech solution in our Software Finder appSign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital Procurement!Connect with James on LinkedIn

In this episode of The Procurement Software Podcast, host James welcomes Praveen Kalamegham, CTO of Workrise, to discuss the importance of industry-specific solutions in procurement technology, particularly in the oil and gas sector.The conversation dives into how tailored tools can better meet the unique needs of different industries and enhance procurement processes.Tune in to learn how to confidently choose and implement the right procurement tech to drive efficiency and innovation in your organisation.S2P and Vendor Management in the Energy SectorPraveen emphasises the importance of tailored procurement solutions for specific industries, particularly in the energy sector, where complex supply chains and massive capital projects are the norm. He highlights how tailored tools like Workrise address unique challenges, ensuring companies avoid the pitfalls of generic solutions that fail to meet sector-specific needs.His perspective focuses on the need for transparency and trust in procurement processes, especially in an industry often driven by handshake agreements. By connecting all aspects of procurement—from sourcing to payment—Workrise fosters real-time visibility and stronger supplier relationships, enabling energy companies to operate more effectively.A key takeaway is Praveen’s emphasis on adaptability. Workrise is designed to integrate with existing systems, allowing organisations to enhance their current operations without overhauling established processes. This flexibility is particularly vital for companies hesitant to adopt new technologies due to fears of disruption.Praveen advocates for building an engaged supplier network, where active collaboration ensures resources are available when needed. This proactive approach, coupled with alignment between procurement and finance functions, accelerates decision-making and enhances cost efficiency.By tailoring its solutions to industry needs, Workrise demonstrates how procurement technology can drive immediate value while laying the foundation for long-term success in a highly dynamic sector.Timestamps:[00:02:21] Assessing procurement technology needs.[00:06:31] Niche tools for energy procurement.[00:08:11] Complexities of CapEx projects.[00:12:38] Cost savings in energy supply chain.[00:17:25] Niche solutions in energy sector.[00:20:34] Supply-side ecosystem challenges.[00:25:30] Partnerships in the energy industry.[00:27:16] Trust through transparency in industry.[00:29:26] Partnership in procurement tech.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.&nbsp;Stay in touch!Connect with Praveen Kalamegham on LinkedInCheck out WorkriseDownload our Tech Map for EnterpriseDownload our Tech Map for Mid-MarketDownload our Tech Map for SMEsFind your perfect procurement tech solution in our

In this episode of The Procurement Software Podcast, host James Meads explores most the exciting opportunities in procurement technology, focusing on three emerging categories: spend analytics, e-sourcing, and AI-driven co-pilots, each offering unique solutions to procurement’s evolving challenges.Tune in to learn how these innovative tools are reshaping the future of procurement, helping organisations stay competitive in an ever-evolving market.Which categories of procuretech excite me?This week James discusses how spend analytics is now a critical component for larger organisations, especially those operating multiple ERP systems. He compares navigating procurement without spend analytics to sailing a ship without a compass. New, affordable solutions leveraging AI are making these insights accessible to mid-market companies with revenues from $100 million to a few billion, allowing for better spend classification and analysis, and ultimately, more strategic decision-making.E-sourcing tools also feature prominently, particularly for organisations looking to streamline tender processes and drive cost savings. Many companies still use outdated methods like emails and spreadsheets, but these lack the efficiency and data tracking capabilities of dedicated e-sourcing platforms. With high user adoption, these tools bring significant operational advantages by centralising supplier data and automating compliance tracking, making them a clear choice for procurement teams aiming for greater productivity.James then introduces AI-driven co-pilots as the latest innovation to transform procurement. These tools are designed to automate repetitive tasks, such as routing purchase requests and acknowledging purchase orders, that might be too nuanced for traditional RPA solutions. The flexibility of AI co-pilots allows procurement teams to operate more strategically, focusing on high-impact projects rather than routine workflows.Each of these technologies—spend analytics, e-sourcing, and AI-driven co-pilots—represents a leap forward for procurement teams seeking to innovate and adapt in a competitive landscape. By embracing these tools, organisations can drive efficiency, improve supplier relationships, and make more informed decisions.Timestamps:[00:01:21] Categories of ProcureTech excitement.[00:06:00] Growth in spend analytics technology.[00:08:08] Underserved SME technology market.[00:12:05] Tail spend management automation tools.[00:16:15] The future of SRM technology.[00:21:44] B2B marketplaces - do they have a future?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.&nbsp;Stay in touch!Download our Tech Map for EnterpriseDownload our Tech Map for Mid-MarketDownload our Tech Map for SMEsFind your perfect procurement tech solution in our Software Finder appSign up for the Procurement Software...

In this episode of The Procurement Software Podcast, host James Meads interviews Dan Gianfreda, the new CEO of DeepStream, to explore how procurement teams can move from reactive to proactive tech adoption.Focusing on key procurement challenges and organisational maturity, Dan shares actionable insights to help procurement leaders make smarter, value-driven technology decisions aligned with their team's capabilities.Tune in to discover how to transform your procurement function!Crushing eSourcing user adoption with Customer SuccessDan highlights the need for procurement leaders to define specific objectives and success metrics before embarking on tech investments. Doing so ensures they avoid the costly mistake of overspending on tools that don’t meet immediate needs. His approach centres on starting with simple, foundational tools that align with current capabilities. By mastering essentials first, organisations can prevent the frustration and underutilisation that often follow premature adoption of complex systems.A significant takeaway is Dan’s emphasis on leadership involvement, which he sees as crucial for successful digital transformation. Active support from senior management not only ensures proper resource allocation but also cultivates a culture open to change, smoothing the path for tech adoption.Dan advocates for a phased rollout, where procurement teams can progressively learn and adapt, building confidence and capacity before tackling advanced tools. This incremental approach minimises risk and maximises effectiveness. It provides a roadmap for realistic, strategic improvements that prepare procurement teams for long-term success in a constantly evolving tech landscape.Timestamps:[00:01:34] Proactive procurement strategies[00:05:51] Value realisation in ProcureTech[00:09:05] Best of breed vs. suites[00:12:01] Customer engagement in sales process[00:15:20] Procurement software selection strategy[00:19:59] Best of breed vs. suites[00:23:33] One size doesn't fit all[00:25:35] Customer success and expansion strategyAnd 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.&nbsp;Stay in touch!Connect with Dan Gianfreda on LinkedInCheck out DeepStreamDownload our Tech Map for EnterpriseDownload our Tech Map for Mid-MarketDownload our Tech Map for SMEsFind your perfect procurement tech solution in our Software Finder appSign up for the Procurement Software NewsletterBook an Intro Call and let’s talk all things Digital...

In this episode of The Procurement Software Podcast, host James Meads dives into the essential, often overlooked aspects of digital procurement transformation that go beyond the software itself.He discusses 10 critical factors that organisations must address, such as people dynamics, internal politics, and deep-rooted organisational issues that technology alone can't resolve.Tune in for actionable insights on transforming procurement strategically10 things Digital Procurement solutions CAN'T fixThis week James explains how organisations often rush into software adoption based on analyst recommendations, convincing sales pitches or industry trends, without fully understanding their specific needs.Without a clear purpose, such tech initiatives can lead to wasted time, resources, and missed opportunities. James explains that establishing a well-defined objective is essential for ensuring a meaningful transformation.A key takeaway is the importance of assessing internal challenges, such as process inefficiencies, skill gaps, or outdated systems. By identifying specific pain points, organisations can tailor their strategy to address actual needs rather than following trends blindly. Engaging stakeholders from across departments—such as the CFO and IT, as well as the wider procurement team beyond senior leadership—further strengthens alignment with broader organisational goals, creating a solid foundation for securing resources and support.James also stresses the importance of developing a compelling business case that ties chosen software to identified organisational challenges. This clarity helps in securing buy-in from key decision-makers and guides more informed choices.Finally, digital procurement transformation is an ongoing journey. Regularly revisiting and refining strategies helps ensure that technology remains aligned with the organisation’s evolving objectives, enabling long-term, impactful change.Timestamps:[00:00:38] - Focus on People, Politics, and Organization[00:01:09] - 10 Things Digital Procurement Transformation Can't Fix[00:01:20] - No Vision of the Why[00:02:29] - Procurement Team's Capabilities[00:03:39] - No Investment in Learning and Development[00:04:47] - Lack of Mandate for Procurement[00:06:02] - "We've Always Done It This Way" Culture[00:08:05] - Misaligned Procurement KPIs[00:09:33] - Poorly Communicated Procurement Processes[00:10:50] - CFOs Who Only Recognize PPV Savings[00:12:25] - Rigid Inflexible Procurement Governance[00:14:50] - General Toxic Work Environment[00:16:26] - Conclusion and Call for Listener StoriesAnd 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.&nbsp;Stay in touch!Download our Tech Map for EnterpriseDownload our Tech Map for Mid-MarketDownload our Tech Map for SMEsFind your perfect procurement tech solution in our Software...

In this episode of The Procurement Software Podcast, host James Meads sits down with Paul Gurr, founder of Provalido, to dive into the nuances of building and managing a high-impact savings pipeline.From stakeholder alignment to identifying various different savings and value-driving categories, we drill down into key strategies and share insights to give your budgeting process a nudge in the right direction this Q4.Tune in to redefine your pipeline strategy!How to succeed with procurement savings pipelinesPaul shares insights into how procurement can move beyond cost-cutting by embracing a structured, continuous ideation process that actively involves stakeholders from departments like finance, operations, and marketing. Engaging these perspectives unlocks creative, value-driven solutions that align with organisational goals and foster cross-functional collaboration.One of the key points discussed is the importance of leveraging suppliers’ expertise. Paul explains that suppliers can provide invaluable insights into market trends, innovative products, and potential efficiencies, helping organisations identify additional savings opportunities. Maintaining open lines of communication with suppliers can thus be a strategic advantage.Paul emphasises that building a high-impact savings pipeline isn’t a one-off project; it’s a dynamic, year-round process. Provalido’s platform is designed to support this by offering a centralised space where ideas can be scored, prioritised, and tracked. This structure not only enhances transparency and accountability but also builds trust among stakeholders by providing clear visibility into the progress of cost-saving initiatives.A standout takeaway from this episode is the breakdown of procurement's financial contributions into four categories: cost reductioncost avoidancedelayed cost increasesrevenue generationPaul explains how these categories require tailored approaches to maximise impact, demonstrating procurement’s ability to contribute strategically to the organisation.Ultimately, an effective procurement pipeline goes beyond cost savings, aligning with business objectives and adding long-term value.Timestamps:[00:02:25] Procurement tech's essential functions.[00:05:15] Performance management in procurement.[00:10:03] Financial benefits of procurement.[00:10:57] Cost reduction strategies in procurement.[00:15:53] Revenue drivers in procurement.[00:19:31] Continuous procurement ideation process.[00:22:18] Resource allocation in project management.[00:25:17] ROI in savings reporting.[00:27:57] Procurement department complexity.[00:30:47] Enterprise tech for SMEs.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.&nbsp;Stay in touch!Connect with Paul Gurr on LinkedInCheck out ProvalidoDownload our Tech Map for EnterpriseDownload our Tech