Data Is The Secret Weapon of Procurement Tech

Here are some data and digital procu secrets for you

Hey Procurement Legend, here are some thoughts about Data and Procurement Tech over the last few years.

I’ve also gone all in on definitions and context for you if your knowledge of Digital Procurement and Procurement Tech is low. After reading this, you’ll be in a good place to push on your knowledge.

Enjoy.

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I consider data to be the secret weapon of Procurement Tech. But we have a chicken and egg conundrum here.

Procurement Tech could be seen as the vehicle; the data it needs and utilises can be the fuel.

But, before you get Procurement Tech, your data usually sucks.

So, we find ourselves in a position where we need good data to fuel the tech we want or have, but we haven’t locked down a method to get good data.

Data provides many advantages to us Procurement Pros (here’s a few that I’ve summarised):

So here’s how you can use data, collect better data, and fuel your Procurement Tech as you transition from a non-digital set-up to a digital procurement set-up.