Coupa Layoffs, Customer Thinking,
Metal, Rock, and Space Goggles
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Before we get into this Newsletter I’m currently in a van on my way to Download Festival eagerly anticipating listening to some of my favourites such as Slipknot, Architechs, Blackgold, Metallica, and loads more.
I won’t have access to substack whilst I’m there and I’ll probably have no access to email.
I’ll be having a bit of a digital detox (I just did one last week too).
And I recommend it to all of you.
It can really help improve your relationship with tech.
Speaking of tech - did you see those new space goggles from Apple. I’m not sure if they’re amazing or horrendous. And I miss the vibe google glasses gave in terms of where that tech was going.
Trending Articles this Week
What the Coupa Layoffs tell us about the State of Procurement Technology
The layoffs that have happened at Coupa should not be a surprise. We’re not clear on numbers, but I’ve seen the 30% figure, which is probably 900-1100 employees losing their job. Big numbers. Thomas Bravo acquired them to their ever-growing portfolio of big tech. A company with over $2bn in debt likely had issues other big tech have been displaying.
Global Insights
Why are procurement teams still relying on manual processes in the digital age?
Despite challenges such as production delays and logistical issues, few procurement teams believe they have fully transitioned to digital processes, according to a study by UK IT procurement firm Probrand. Of those surveyed, 63% admitted to still relying on manual systems to complete tasks, while almost a quarter are yet to make plans to move towards digitalisation.
EU supply chain due diligence directive to eliminate ‘cowboy companies’
The Corporate Sustainability Due Diligence Directive has been approved by the European Parliament, and while Amnesty International believes it has the potential to be a landmark piece of legislation, it raises concerns around troubling exemptions that could make it challenging to hold financial firms liable for abuses.
Tail Spend Management and Procurement Solution Provider Simfoni Secures $8M Investment Round Led by Kearney
Simfoni partners with industry-leading consulting expert Kearney to advance revolutionary composable tail spend management solution and service delivery model and raises a wod of cash.
AI in the News
Globality’s new chatbot Glo uses generative AI to enhance procurement processes and lower costs
Globality has launched a chatbot called Glo. The AI-powered chatbot provides a modern replacement for traditional request-for-proposal activities.
🤖 NVIDIA Joins the $1 Trillion Club
With what is described as the “iPhone moment of AI,” NVIDIA stock has shot up 172% so far this year, earning the company a remarkable market cap of nearly $1 trillion
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As always, my friends, I truly appreciate that you read this.
Daniel