Before I start, make sure to make the DualSource Discourse podcast with Sarah Scudder and Dr. Elouise Epstein a must-watch in your busy schedule. Both are two of the industry’s most insightful and, therefore, influential people in our profession and business overall.
Now, let’s get down to it.
Shaking Things Up
If you read my earlier post – The Spider Kills CLM Solution Providers, Risk Management May Be Next (Dr. Elouise Speaks), you know that the Spider Map of solution providers is changing dramatically. By the way, if you haven’t read it, take a couple of minutes to read it, and then come back here. Don’t worry, we will wait for you to come back. Here is a short excerpt in case you decide to read through:
According to the good doctor, “Why waste time and money on a CLM to integrate multiple contracts across the database (contract analytics) when CLM providers have failed miserably at this?” As a result, the CLM category has been dropped from the Spider Map. A heads up to Risk Management providers – you are likely the next category to get the proverbial axe. It is indeed a tough and cruel business.
However, there are rays of sunshine and hope as Dr. E, as Sarah calls her, has added five new companies to her map.
The best way to meet and get to know someone is to engage them in a conversation of mutual interest, which I did by commenting on their most recent posts on LinkedIn. Here are my comments on their latest news and shares. (NOTE: click on the provider name to access the post on which I commented)
Interesting read, and it returns to what we were doing in the late 1990s and early 2000s.
The first step is to solve problems versus leading with technology, otherwise known as using an agent-based model versus an equation-based model – https://bit.ly/3FBnFRr
The second step is to realize, per the following post is that what you discuss in your article – which again is a good read, is more a long-awaited recognition versus a new discovery or digital evolution. Just as an aside, 10 to 15 years from now – by that time, I will have been in this industry for 55 years, we are going to look back on today’s tech with the same dismissive attitude we now have toward floppy disks, modems, and dot matrix printers.
In short, success and a seat at the table have never been, nor will it ever be, determined by the ” innovative tech” of any era. Success is ultimately based on the industry experience and expertise of the people behind the logo to solve real-world problems and then introduce technology.
RFP participation and success have never been about the tech.
Here is a link to a recent article that you will find interesting: How Will ChatGPT Help Suppliers Win RFPs? – https://bit.ly/3Km3CJb
Just to be clear, I love technology and have been in this industry for 40-plus years.
In the late 1990s and early 2000s, I built one of the first web-based procurement platforms with funding from the government’s Scientific Research & Experimental Development program.
Based on my theory of strand commonality, it was a nascent AI system with self-learning algorithms that produced the following client outcome:
“In August 2003, the new technology successfully went live in a production environment for the DND. In this test case, the public sector organization realized a year-over-year 23% cost of goods savings for seven consecutive years while simultaneously reducing the number of buyers required to manage the contract to 3 from an original 23. Delivery performance and product quality also improved dramatically.”
However, I didn’t create the tech first; I solved strand-related problems using an agent-based model and then developed the tech.
By the way, I sold my company in 2001 for $12 million.
While I will have to do more research to confirm, you got my attention with the following excerpt from your About page:
“We are an SAP partner offering a design, build, sell, and service focus to clients across North America and have been transforming the enterprise experience since 2002.”
That sounds like an agent-based versus equation-based approach to solving problems. Here is an example of what I mean – https://bit.ly/3FBnFRr
The second thought that came immediately to mind was the following excerpt from an earlier post – https://bit.ly/3HknqM4
“In other words, we are perpetually “trapped” in a zone or space between the “loose coupling” of systems and solutions, e.g., the Kaypro and Perfect software bundle, and the promise of the coherent and seamless integration of Microsoft Office.
All of the service providers look great and have interesting technologies. While I really like what one of the five is doing – I will write more about them in the coming days, the following statement in the good doctor’s post concerns me:
“Make your solution Amazon and Netflix-like – easy to use and has the intelligence embedded to nudge the user to do the next thing.”
The funny thing is that the industry used to say something similar regarding the emergence of another new and exciting digital breakthrough – Software-As-A-Service (SAAS). Check out this 2023 excerpt of a post about an article I wrote in 2014:
EDITOR’S NOTE: It is late on a Friday afternoon, and my reduced caffeine intake means that my mind is prone to contemplating ideas and concepts that are not, shall we say, “mainstream thinking.”
Ironically, it was late on a Friday afternoon on September 12th, 2014, that I wrote this post on Amazon becoming the new Oracle. At the time, it was as much whimsy as it was reasonable contemplation. I say reasonable because that was the time when many people started asking the question, “Why can’t buying at work be as easy as it is at home on Amazon?”
It wasn’t exactly a preposterous musing, given the ongoing challenges with user adoption and maverick spending. However, it was a suggestion that rolled a few eyes and thought by some readers that I may be losing a little edge.
I am sharing this post with you on Friday, September 20th, 2023, because the following post-2014 excerpts from several articles and websites are relevant to the current situation. I invite you to read and consider the 2014 post through this up-to-date lens.
It’s funny, but SaaS S2P was being heralded as the next great thing, replacing “archaic (ERP) technology.” However, by December 2019, the bloom was off that rose of expectation per the following excerpt from another post titled: Deloitte CPO Survey: Digital transformation of procurement a bust?
“Interestingly though, a large percentage of companies that have fully implemented these modern technologies are not actually satisfied with the results.” – Deloitte 2019 Global CPO Survey
It is both ironic and disappointing that SaaS S2P has become the Oracle and AI the new savior in 2024.
When are we finally going to break the cycle of being mesmerized by the shiny bobbles of new tech and realize that tech is not the driver but the enabler of an agent-based approach to solution implementation success?
It looks as if only one of the above five may have figured that out.
Procurement Insights
Dr. Epstein’s Five Solution Providers To Watch
Posted on May 29, 2024
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Before I start, make sure to make the DualSource Discourse podcast with Sarah Scudder and Dr. Elouise Epstein a must-watch in your busy schedule. Both are two of the industry’s most insightful and, therefore, influential people in our profession and business overall.
Now, let’s get down to it.
Shaking Things Up
If you read my earlier post – The Spider Kills CLM Solution Providers, Risk Management May Be Next (Dr. Elouise Speaks), you know that the Spider Map of solution providers is changing dramatically. By the way, if you haven’t read it, take a couple of minutes to read it, and then come back here. Don’t worry, we will wait for you to come back. Here is a short excerpt in case you decide to read through:
According to the good doctor, “Why waste time and money on a CLM to integrate multiple contracts across the database (contract analytics) when CLM providers have failed miserably at this?” As a result, the CLM category has been dropped from the Spider Map. A heads up to Risk Management providers – you are likely the next category to get the proverbial axe. It is indeed a tough and cruel business.
However, there are rays of sunshine and hope as Dr. E, as Sarah calls her, has added five new companies to her map.
“These 5 new providers have been added because their speed to market is mind-blowing: BlueBean, sligo.ai, Kontractify, ConvergentIS & Cimple.”
A Preliminary Assessment
The best way to meet and get to know someone is to engage them in a conversation of mutual interest, which I did by commenting on their most recent posts on LinkedIn. Here are my comments on their latest news and shares. (NOTE: click on the provider name to access the post on which I commented)
BlueBean
Based on Sarah Scudder – Sales Leader Turned CMO post the other day, it looks like you are in sync with Dr. Elouise Epstein 🏳️⚧️
Welcome to the big leagues, BlueBean
sligo.ai
Interesting read, and it returns to what we were doing in the late 1990s and early 2000s.
The first step is to solve problems versus leading with technology, otherwise known as using an agent-based model versus an equation-based model – https://bit.ly/3FBnFRr
The second step is to realize, per the following post is that what you discuss in your article – which again is a good read, is more a long-awaited recognition versus a new discovery or digital evolution. Just as an aside, 10 to 15 years from now – by that time, I will have been in this industry for 55 years, we are going to look back on today’s tech with the same dismissive attitude we now have toward floppy disks, modems, and dot matrix printers.
In short, success and a seat at the table have never been, nor will it ever be, determined by the ” innovative tech” of any era. Success is ultimately based on the industry experience and expertise of the people behind the logo to solve real-world problems and then introduce technology.
Thoughts? Michael Lamoureux Sarah Scudder – Sales Leader Turned CMO
Are you chasing solutions or solving problems? (Part 1 of 3)
Kontractify
RFP participation and success have never been about the tech.
Here is a link to a recent article that you will find interesting: How Will ChatGPT Help Suppliers Win RFPs? – https://bit.ly/3Km3CJb
Just to be clear, I love technology and have been in this industry for 40-plus years.
In the late 1990s and early 2000s, I built one of the first web-based procurement platforms with funding from the government’s Scientific Research & Experimental Development program.
Based on my theory of strand commonality, it was a nascent AI system with self-learning algorithms that produced the following client outcome:
“In August 2003, the new technology successfully went live in a production environment for the DND. In this test case, the public sector organization realized a year-over-year 23% cost of goods savings for seven consecutive years while simultaneously reducing the number of buyers required to manage the contract to 3 from an original 23. Delivery performance and product quality also improved dramatically.”
However, I didn’t create the tech first; I solved strand-related problems using an agent-based model and then developed the tech.
By the way, I sold my company in 2001 for $12 million.
How Will ChatGPT Help Suppliers Win RFPs?
ConvergentIS
While I will have to do more research to confirm, you got my attention with the following excerpt from your About page:
“We are an SAP partner offering a design, build, sell, and service focus to clients across North America and have been transforming the enterprise experience since 2002.”
That sounds like an agent-based versus equation-based approach to solving problems. Here is an example of what I mean – https://bit.ly/3FBnFRr
The second thought that came immediately to mind was the following excerpt from an earlier post – https://bit.ly/3HknqM4
“In other words, we are perpetually “trapped” in a zone or space between the “loose coupling” of systems and solutions, e.g., the Kaypro and Perfect software bundle, and the promise of the coherent and seamless integration of Microsoft Office.
I can only wonder how things might have been different had the June 2004 Mendocino Project materialized. Would Microsoft’s reported/purported plans to buy SAP turned the myth of a single source solution into a reality: https://procureinsights.com/2007/12/05/microsoft-acquires-sap-a-commentary/“
Once again, I need to learn more about your solution, but right now, ConvergentIS is the 2024 Mendocino project.
Are you chasing solutions or solving problems? (Part 1 of 3)
Cimple
Your post made me think back to an article I wrote in 2010 – https://bit.ly/3R6v6X0
Of course, I would also be remiss if I didn’t mention the archive of articles written for Procurement Insights by Colin Cram FCIPS. Here is the link to his 2011 paper: Towards Tesco: Improving Public Sector Procurement – https://www.slideshare.net/piblogger/towards-tesco-by-colin-cram
Tapping into some of the top UK minds on procurement David Loseby MCIOB Chtr’d FAPM FCMI FCIPS Chtr’d FRSA MIoD MICW Chris Smith Peter Smith
Did Sir Philip Green Get It Right
Key Takeaway
All of the service providers look great and have interesting technologies. While I really like what one of the five is doing – I will write more about them in the coming days, the following statement in the good doctor’s post concerns me:
“Make your solution Amazon and Netflix-like – easy to use and has the intelligence embedded to nudge the user to do the next thing.”
The funny thing is that the industry used to say something similar regarding the emergence of another new and exciting digital breakthrough – Software-As-A-Service (SAAS). Check out this 2023 excerpt of a post about an article I wrote in 2014:
EDITOR’S NOTE: It is late on a Friday afternoon, and my reduced caffeine intake means that my mind is prone to contemplating ideas and concepts that are not, shall we say, “mainstream thinking.”
Ironically, it was late on a Friday afternoon on September 12th, 2014, that I wrote this post on Amazon becoming the new Oracle. At the time, it was as much whimsy as it was reasonable contemplation. I say reasonable because that was the time when many people started asking the question, “Why can’t buying at work be as easy as it is at home on Amazon?”
It wasn’t exactly a preposterous musing, given the ongoing challenges with user adoption and maverick spending. However, it was a suggestion that rolled a few eyes and thought by some readers that I may be losing a little edge.
I am sharing this post with you on Friday, September 20th, 2023, because the following post-2014 excerpts from several articles and websites are relevant to the current situation. I invite you to read and consider the 2014 post through this up-to-date lens.
It’s funny, but SaaS S2P was being heralded as the next great thing, replacing “archaic (ERP) technology.” However, by December 2019, the bloom was off that rose of expectation per the following excerpt from another post titled: Deloitte CPO Survey: Digital transformation of procurement a bust?
“Interestingly though, a large percentage of companies that have fully implemented these modern technologies are not actually satisfied with the results.” – Deloitte 2019 Global CPO Survey
It is both ironic and disappointing that SaaS S2P has become the Oracle and AI the new savior in 2024.
When are we finally going to break the cycle of being mesmerized by the shiny bobbles of new tech and realize that tech is not the driver but the enabler of an agent-based approach to solution implementation success?
It looks as if only one of the above five may have figured that out.
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