ProcureTech was founded to amplify and accelerate digital procurement. It has been created to support buyers and vendors in navigating the rapidly evolving procurement ecosystem and enable them together to quickly source and build intelligent, flexible, digital procurement solutions.
Solving the most pressing business, social, environmental and economic challenges requires new thinking and a new platform for procurement leaders, entrepreneurs and the digital procurement ecosystem. As a company, ProcureTech is home to the ProcureTech100, ProcureTech SOURCE, and our services ranging from the ACCELERATOR programme to our StrategyLAB and more.
We offer a range of suitable solutions for corporates, such as our StrategyLAB, ACCELERATOR programme, scale programme, and more. Contact us at hello@procuretech.co to find out more.
Creating a profile on ProcureTech SOURCE(link to source) for your solution is your best starting point. If you would like to participate in ACCELERATOR programme you can read more here (link to accelerator page), or contact us at hello@procuretech.co to find out about other servicees.
Please explore our website more or contact the ProcureTech team at hello@procuretech.co
For other collaborations or ways to work with us, contact us directly at hello@procuretech.co
The ProcureTech100 is the annual announcement of the definitive 100 pioneering digital procurement solutions.
At a time when innovative digital procurement solutions are driving real change and business impact, the ProcureTech100 identifies the most forward thinking and customer focused technology, data and analytics procurement solutions. Enabling procurement leaders to find and connect with digital solutions that drive necessary disruptive change. With GenAI having a powerful effect on procurement, the 2024 ProcureTech100 will go further to discover and showcase solutions that are applying AI faster and deeper to transform procurement.
We employ a rigorous, inclusive, and data-driven selection process, which is independently validated by Kearney.
1. Research ProcureTech Ecosystem.
We have already researched the digital procurement ecosystem and identified over 5,000 solutions to be considered for the ProcureTech100. This ecosystem is dynamic and we will continue to update ProcureTech as it changes.
2. Create ProcureTech100 Shortlist.
To create the shortlist, we will then apply statistical analysis of over 50 key data points to demonstrate a range of factors:
• Growth in terms of organisational expansion and employee development over time
• Cybersecurity strength and incident history
• Customer Metrics
• Financial Health
• Innovation and Technological Advancements
• Employee Insights, analysed through workforce trends and leadership effectiveness
• Innovation and Technological Advancements
3. Identify the ProcureTech100.
Global procurement leaders, digital experts and B2B investors bring collective thought leadership and real-life experience which will be integrated with short-listing datapoints to determine the ProcureTech100.
4. Announce the ProcureTech100.
The 2024 ProcureTech100 will be shared with companies and media, and announced by ProcureTech at its virtual PIONEERS event on 22nd October. After which it will be published in the 2024 ProcureTech100 Yearbook.
Quantitative data demonstrate growth, security, customer analysis, financial health, employee insights, technological advancements and industry recognition. Whereas qualitative data provide further insights on business value, scalability, innovation and social impact.
ProcureTech compiles a comprehensive, dynamic database of digital procurement solutions that we select from. We recommend that you create a profile on ProcureTech SOURCE by 16th August if you believe that we may not be aware of your solution, as all companies on the platform are automatically entered into the selection process.
If you are already on SOURCE, ensure that you have added complete information to your profile by 16th August. Any additional information is gathered from our own research.
No, there is no charge to participate in the ProcureTech100. It is not pay to play or pay to win.
The 10 capability categories are:
Analytics, Data & Intelligence
Sourcing & Cost Management
Contract & Legal
Supplier Management
Risk Management
Finance
Source to Pay Platforms
B2B Marketplaces
Sustainable Procurement
Strategy, Process & Performance
The 4 cross capability categories are:
Fastest Growth
Innovation
Social Impact
Customer Satisfaction
When you edit your profile on SOURCE, you have the option to indicate which capabilities your solution supports, and this will ensure that you are considered for multiple categories.
Our independent selection panel is made up of high profile experts including CPOs, digital procurement leaders, B2B investors and analysts – all passionate about digital procurement. These include procurement leaders from global organisations including Roche, Shell, Uber, Estee Lauder, Macy's Inc, Kantar, Sainsbury's, The World Bank Group, Mars, BP, Sky, and Coca-Cola Europacific Partners. We also have a number of B2B who specialise in procurement/B2B/enterprise software that include Mosaic Ventures, BT Sourced and PeakSpan Capital. To view and connect with all of our panellists check them out here.
The ProcureTech100 will be announced on 22nd October at PIONEERS, a virtual webinar. The 2024 ProcureTech100 Yearbook will be released on 5th December.
Being named as one of the ProcureTech100 will position your solution amongst the 100 pioneering procurement technology, data and analytics solutions on the planet.
1. It will distinguish your solution amongst the many other providers in the industry.
2. Create awareness of your solution amongst the 1,000s of buyers who are actively looking for intelligent, flexible solutions to enhance their procurement function.
3. Ensure visibility amongst the wider procurement community including media and investors.
4. Support and enhance your marketing, both on our platform and through your own channels, by attaching the ProcureTech100 award to your solution.
5. Gain recognition for your team and inspire other digital procurement leaders.
No. All vendors have an equal opportunity to participate in the ProcureTech100.
The ProcureTech100 is an annual event.
The ProcureTech ACCELERATOR is the catalyst for smarter, stronger digital procurement partnerships. It is a fast-track programme that enables leading enterprises to connect, collaborate and co-create with innovative digital procurement solutions and form partnerships.
The ProcureTech ACCELERATOR is the only procurement accelerator programme on the planet. Our fast-track programme connects the world’s leading procurement teams with innovative digital procurement solutions. We bring together innovators, senior procurement and technology executives and investors to address specific enterprise challenges with digital procurement solutions. Through the ACCELERATOR, leading corporations and digital solution providers
1. Create high performing digital procurement partnerships
2. Amplify and accelerate collaboration to co-create
3. Share collective experiences and insight
4. Optimise use of scarce resource
5. Increase the speed of innovation adoption
6. Learn and build out their own innovation capabilities
7. Create stronger more successful solutions
8. Get ready to scale fast!
Both corporates and solutions providers can apply for ACCELERATOR programmes. You'll find details on how to get involved on our dedicated ACCELERATOR page here (link accelerator page).
ProcureTech ACCELERATORs are run by ProcureTech. We involve key people from the corporate side and from the vendor(s) involved to ensure a focused programme and high impact delivery.
ACCELERATOR programmes typically run for 7-12 weeks, although times vary depending on individual company needs.
Challenges are reviewed from corporate partners to be included in the ACCELERATOR, and where possible synergies are sought. These challenges are then shared and ProcureTech scout to identify potential solutions for the challenges, as well as receiving applications. The longlist of applicants will be analysed with the corporates to create a shortlist that best fit the challenge requirements. These digital solutions will be invited to a pitch session where they can demonstrate their solution and capabilities. We then decide which solutions will join the ACCELERATOR programme. For those that aren’t selected, we will provide feedback and include them in future relevant initiatives.
As a digital solution provider, you can expect:
1. Unparalleled access to potential future customers
2. Extensive mentorship, procurement leaders sessions and a collaborative environment
3. Expanding digital procurement solutions, ‘go-to-market’ plans and pitch
4. Demo and showcase days amplifying engagement beyond the ACCELERATOR
5. Fast track to first successful projects with corporate partners
6. Mentoring by procurement leaders
As a corporate partner, you will receive:
1. Access to the best of innovation in digital procurement
2. Curation of solutions with high potential to meet your challenges
3. Digital procurement immersion combined with solution co-creation
4. Shared, collective intelligence and experience
5. Future proof your procuretech stack
6. Solutions built for scale
After the programme, projects are kicked off between corporates and digital solution providers. There are additional opportunities to work with ProcureTech in ensuring adoption and implementation.
The ProcureTech ACCELERATOR is the first and only accelerator focused exclusively on procurement and supplier management. The programme is deep in digital procurement experience and insight sharing. Co-creation is at the core of the programme, from solutions to the structure of first projects / proof of concepts. It’s a very agile programme, built for successful progression from pilot to partnership. The programme creates stronger, smarter digital procurement partnerships. No equity is required from digital solution providers to participate.
The ACCELERATOR is industry and sector agnostic, we focus on our corporate partner challenges, challenges which when they are solved create real impact.
You want to join the ACCELERATOR? Great! We are always excited to be taking applications. Please have a look at the live challenges on our page (link accelerator page) or contact us directly if you have other needs or ideas.
ProcureTech also work with corporates and digital procurement solutions across a number of areas from digital procurement strategy and transformation map to the specification and selection of digital procurement solutions. Contact us to discuss additional opportunities.
ProcureTech SOURCE is the ultimate place for the digital procurement ecosystem. On SOURCE, corporates, solutions, investors, and procurement specialists can connect with fellow industry experts. It is an online platform where users can discover pioneering solutions, exciting events, and ground-breaking content. Users can create discussions, submit content, and generate collaboration opportunities.
ProcureTech SCOUT is ProcureTech’s scouting process to help corporates find new digital procurement solutions. The process provides faster and smarter matching to bring corporates and digital procurement solutions together.
1 - Establishing the challenge statement.
A. Develop the challenge statement through consultation with key client stakeholders via discussion groups / workshops.
B. Confirm the completed challenge statement is accurate.
2 - Develop a solution list
A. Scout potential vendors for the project opportunity.
B. Advertise the challenge and encourage potential vendors to put forward their solution.
C. Consult with industry experts to gain knowledge on leading solutions for the challenge statement & problem.
D. Confirm final list of identified solutions.
3 - Curate the full solution list into a shortlist
A. Stakeholders evaluate solutions as a collective and narrow down the selection to a short list of vendors.
4. Final solution selection
A. Top ranked vendors are invited to present their solution offering through an interactive session where the key stakeholders can take part.
B. After all the presentation sessions a solution is selected to engage for a pilot programme.
5. Collaboration discussions
A. A pilot planning and preparation session is conducted to establish how the collaboration between the client and vendor will work and to agree on any additional required details
6. Pilot Programme
A. A pilot programme of an agreed scope and KPIs is run to ensure the solution can provide value to the business and the client and vendor can work well together
ProcureTech facilitates the scouting and selection process by collecting vendor information, performing pre-selection checks, and advising the client on past experience where available.
Applications will be confirmed by an automated email confirming your participation. You should expect to hear back no earlier than 10 working days after the close of the deadline. Once all applications have been received ProcureTech will review entries and provide the client with a ‘longlist’ of vendor applications that they can review for selection.
A shortlist of vendors will be selected based upon best fit to solve the challenge and will be invited to attend a presentation day so the solutions can be presented and demoed to the client.
Your company, if selected, along with a shortlist of other vendors will pitch and demo your solutions to the client. From here the client will make the final selection.
If you pass the selection for the presentation day your solution will be on a shortlist of other vendors. A limited number will participate but the exact figure depends on suitability and the brief.
Where possible it is our intention to provide feedback to unsuccessful vendors.
