Jason Busch on Big Data, Social and Procurement Tech Futures

Wax Digital are featuring a specially recorded presentation (it’s not available anywhere else, we should say) from our very own Jason Busch, Spend Matters founder. He’s talking about the Future of Procurement and brings to the presentation his own inimitable style, deep knowledge of the technology market, and spookily accurate ability to predict trends in procurement and beyond.

He covers a whole host of topics, big data being one of the more fashionable, as it were.

“We have an increasing array of data sets to help make decisions ...  traditional spend analysis for instance is “spent” analysis, it is what you have done in the past. But what if we can begin to embed other data sets besides just spend data, if we can move beyond purchase price variance, to begin to bring in information around organisational demand, around supplier quality, pricing and commodity data into our decisions ... this is part of what big data makes possible”.

He also talks about “social”, something dear to our hearts. Apparently, his three young-ish sons say “Facebook is for old people, Instagram is for everyone, Snapchat is for lazy people”. Whether that is accurate, it is clear that social is migrating into the workplace, and the days of hundreds of random emails every day as the prime communication route is gone as other tools come into play, and of course tying social to the broader concept of collaboration is very interesting for our profession.

One of his scariest predictions is this. “The world of procurement technology is going to change at 10X the rate in the coming decade than in the past 10 years”.  Coming from Jason, who is the most knowledgeable procurement tech guy in the world, I reckon, that is terrifying for those of us of a certain age. But if you are under 55 and / or feel you have another ten years’ work in the profession in you, keeping up with this stuff is vital. So do take 20 minutes to listen to Jason here.

Wax Digital is a UK-based leader in procurement and spend management technology, and they also put a lot of effort into contributing to wider thought leadership in the procurement world. Jason’s session is part of their current focus on technology, and you can also download their  Tech 2020 reports (part 1 and 2) here and see how in their opinion procurement technology may evolve come the turn of the next decade.

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