ProcureTech’s StrategyLAB, shaping 2024 digital priorities

December 21, 2023

This week, ProcureTech was delighted to host its 2024 StrategyLAB in the heart of London.

Leading the session was ProcureTech’s Founder & CEO, Lance Younger.

The StrategyLAB focused on working together to prioritise 2024 digital procurement strategies and approaches. Leading corporates and innovative digital solutions reviewed business and procurement challenges, explored the 2023 ProcureTech100, digital procurement trends, and how to activate ‘catalysts’ within their organisation. Lego and Fidelity teams shared their digital procurement journey so far, which brought it all to life.

“The StrategyLAB is such a valuable forum where people share real challenges.”

All organisations are impacted by the current state of the economy, wars, instability, inflation and the rapid digital evolution.

Procurement’s role continues to evolve and top priorities are shifting, moving away from sustainability initiatives according to our latest research and towards GenAI implementation, as digital spans all functions. There is also a renewed focus on cost and cash.

The StrategyLAB provided a collaborative and safe environment where leading organisations jointly defined their options and investments for 2024.

“The schedule and topics were all so well received and responded to by all, and it was great to hear from, and connect with, the speakers and attendees. The interaction was superb (I had not started the day imagining we would be building Lego ducks, but the analogy and messaging will remain with me and will be shared with the team!)”

The session helped leaders identify key enablers to advance digitalisation and help them be more purposeful with their investment in digital procurement, both in new transformation programmes and when scaling existing investments.

Key Takeaways

• Ensure leadership by example and vision

• Invest in upskilling initiatives

• Establish a system of collaboration

• Explore and invest in GenAI and process orchestration

• Leverage specialised S2P platforms and best-of-breed solutions

• Understand and establish data-driven decision-making

“Be brave”

Want to learn more about the ProcureTech StrategyLAB? Considering your priorities for 2024?

Contact ProcureTech to find out more about our personalized StrategyLAB approach.

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