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AI that actually works: built for chemical procurement

AI that actually works - built for chemical procurement

Finding chemical and raw material suppliers is tougher than ever. Use supplier scouting technology to quickly uncover relevant, qualified alternatives

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Zac Vidlock

<h2>The procurement software landscape</h2>
The procurement software landscape is evolving rapidly, and with it, companies are rethinking the technology that supports their procurement processes. As businesses strive to stay competitive, the focus on solutions across the Source-to-Pay, Procure-to-Pay, and Spend Management landscapes are increasing.
Not only are there large corporates such as SAP, Coupa, and Oracle playing in the space, but there are a variety of smaller start-ups innovating in the space. For example, Valdera focuses on innovation in chemical &amp; raw material procurement.
Companies can research and test these solutions by attending events such as DPW, examining expert review lists such as Elouise Epstein’s spider chart, or working with start-up scouting organizations such as Silicon Foundry.

<h3 id="ember185" class="ember-view reader-text-block__heading-3">Reimagining procurement during software transitions</h3>
Today, many companies are facing ERP transitions, shifting from legacy systems to modern solutions. A major driver of this change is SAP, stopping service on their legacy ECC system and migrating customers to SAP S/4Hana.
With these transitions come opportunities to not just implement new ERP platforms, but to reconsider the modules that sit on top of them. In the example of SAP, SAP Ariba is a standard module for procurement. However, we’re seeing companies use this time to strategically rethink what they want out of their procurement technology set, looking at the options that might compete against or add onto the Ariba module. This transition opens the door to allow companies explore more specialized and flexible procurement tools to add on to their suite of products. It’s critical to consider this before entering into a long implementation period.

<h3 id="ember194" class="ember-view reader-text-block__heading-3">Adopting best-in-class solutions</h3>
The decisions made at this stage will define if a company wants to uplevel procurement as a stragetic function, that can both grow the top line and ensure bottom line savings.
Leading companies seek out best-in-class solutions tailored to their needs. They recognize that specialized tools often outperform one-size-fits-all solutions. For example, companies moving away from traditional ERP source-to-pay modules are increasingly considering specialized solutions like Coupa, which offers greater flexibility, innovation, and user friendly interfaces.
Laggards, on the other hand, are often held back by the desire to extract every dollar out of their existing ERP modules. Though this is understandable, as ERP implementations can be lengthy and expensive, they are undoubtedly leaving value on the table when ignoring the alternative options.
This transition period provides an opportunity for forward-thinking companies to step back and reflect on whether or not their current technology truly meets their business goals or whether it’s time to explore newer, more innovative technologies.

<h3>Where does Valdera fit during this transition?</h3>
In the midst of these transition periods and long implementation roadmaps, we encourage companies to look into Valdera to test and pilot in parallel, and determine if its the right add to your software suite.
Since Valdera can operate as a standalone solution, it can be implemented quickly &#8211; and be up and running for your organization in minutes. This allows teams to start driving value immediately, without waiting for the full ERP implementation to be complete.
After a pilot testing period, if you find that Valdera aligns with your business needs, it can easily be integrated into your existing Source-to-Pay, Procure-to-Pay, or ERP systems. With the &#8220;hood open,&#8221; it’s the perfect time to build these integrations seamlessly.
By taking advantage of this flexibility, companies can experiment with cutting-edge solutions without disrupting their long-term implementation. As businesses rethink their procurement strategies, now is the ideal time to evaluate how Valdera can play a critical role in their Source-to-Pay transformation.

The author thanks Melissa Boelstler for her contributions.

Sruti Arulmani

Rethink procurement software during ERP transitions

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