0:12 All right, let’s see.
0:16 Just let everyone go ahead and trickle in.
0:27 Okay. So, it looks like we’ll need to go ahead and everyone.
0:41 Awesome. So, we’ll kind of just let people trickle in, which is great.
1:02 Let’s see. All right. Nice.
1:09 Okie dokie. And we’ll go ahead and um take take it away, get things started.
1:14 And of course, I’m sure people will continue to join join us. But we do want to say a really big thank you um to everyone for joining us today. A big
1:22 welcome. Um and we’re excited to present to you guys uh achieving procurement excellence through data integration with focal point. So my name is Maya. I’ll be
1:31 moderating today and we’re really excited to be sharing how data integration um can help to transform your procurement processes and how us
1:39 here at Focal Point can help you. Um before we get into anything, I do want to introduce you to your two lovely speakers today. Uh we have Matthew. He’s
1:47 an industry expert and he has been in and around procurement technology for over 20 years. Uh before that, Matthew was responsible for sales and supply
1:55 chain at a large paper company in Europe. And of course, we also have Steve with us. Steve also has an extensive procurement background with
2:03 many years experience as both a practitioner um and in technology for procurement. So super super excited to have them both with us here today.
2:13 Before we do get into everything, I’ll give you a brief overview. Um, first,
2:16 we’re going to talk about what the top priorities of today’s procurement teams are. Uh, two, a little bit about what we’re hearing from procurement teams um,
2:24 out in the field. Three, a bit about APIs and why they’re crucial for making your data work for you and your teams.
2:30 And then, of course, for a little bit about a focal point, how we can help you. Um, so Matthew, let’s go ahead and get started. we’ll go to topic one which
2:39 is one of the top priorities of today’s procurement teams.
2:43 Oh, thanks Maya. Yeah, and hi hi everybody. Thanks for your time today.
2:47 Um yeah, let me jump right in and and talk about what’s top of mind for procurement professionals these days.
2:53 There’s there’s a lot going on out there. Um if you if you look at the slide um the next slide um you’ll see
3:02 there are a number of topics. I’m going to pause a little bit, let you consume that a little bit, but also make that screenshot if you want to as well.
3:13 So, what you’re going to see on there is um according to to recent research as people say um from various places like
3:20 McKenzie, KPMG, the Hackit Group, the there are big focuses on specifically cost reduction, although the focus is
3:27 shifting towards value creation more. Um then you’re going to see things like around managing risks, add into that the
3:34 resilience and particularly for supply chain resilience, price volatility,
3:38 geopolitical risks. Um and and then moving on to you know improving collaboration.
3:46 So improving collaboration, we’re really talking about external and suppliers,
3:51 external suppliers. Um, and how you can the the procurement procurement team can work with other functions, you know, be
3:59 it legal, who we deal with every day in in in procurement, but also manufacturing, finance, supply chain,
4:07 marketing, dare I say, um, various other things like that. Yeah, Matt, I I I actually really agree with that and it’s
4:15 interesting to see how uh the priorities are ever evolving with the needs of the market. Uh cost reduction has always
4:22 been a key focus, but uh now we’re seeing a lot more emphasis on uh strategic supplier relationships, risk
4:29 management, and especially in the current global landscape. I would also point out in a couple of different areas which is a strong push towards better
4:39 data visibility and using advanced analytics. Um here I would point out that this is a people are adopting AI
4:47 and in particular machine learning to really enhance decision making.
4:52 That’s right Steve. One of us had to say AI, right? Um yeah,
4:56 as you said the the need for better data visibility is becoming more and more critical and there’s more data out there every
5:04 day. Data is just increasing so significantly nobody can keep up with it. Procurement teams need to want to
5:11 leverage that data to drive insights and make informed decisions. And these advanced analytics come into play more and more helping organizations predict
5:20 trends, optimize their procurement strategies, etc. And AI is a critical way to handle lots more data, you know,
5:30 that all of us are producing every day.
5:32 We’re getting all this extra data, but we must not ignore the human intelligence aspect as well. So, how can we leverage human intelligence in a
5:40 better way considering we’ve got all this data? So, how can we enable them?
5:45 Um, AI can summarize the data. It can make predictions and and our philosophy at least within focal point is really to
5:53 automate everything that’s time inensive or that people get wrong often as well. Makes sense. Definitely makes sense.
6:01 Absolutely. Thank you both.
6:05 Sorry. So, we’ll go ahead and and jump on to the next topic. That question is,
6:09 what are you hearing from procurement teams and their leaders about their data?
6:15 Yeah, that’s that’s interesting. So a lot of this is going to be kind of similar to some extent but um a focal point what we’ve been paying close
6:23 attention to is you know what’s the market saying and what are we hearing and we’re hearing pretty much the same things that as I said McKenzie and and
6:31 KPMG and and various people are finding companies are looking to streamline their procurement processes stay
6:38 compliant as well and and just make better decisions and and all of that can be done with data integration and
6:46 understanding understanding the data more. As you can see on the slide,
6:50 hopefully you can see the slide, these topics are really mirroring that that that we’ve been talking about previously. But one thing that comes
6:59 really loud and clear is how disperate and unrelated solutions are used within procurement often creating a really
7:06 complex architecture and and you know what Matt uh I would agree um wouldn’t you agree that one of
7:14 the biggest challenges for these companies and what they’re facing in integration of these uh systems and data
7:21 sources is to fill the need for uh a more homogeneous and collaborative working environment.
7:28 Absolutely. Yeah. Yeah. I couldn’t agree more. Integration’s often the missing link. Many companies have the right data. In fact, probably all companies
7:36 have the right data, but it’s siloed across different systems making it difficult to get to comprehensive view that hampers your visibility and it adds significant complexity.
7:48 I I was I heard an example the other day which is not that extreme to be honest,
7:53 but it does illustrate the point. a large company who I’ve been working with for many many years, probably 10 years at least. um they use SAP as the backend
8:02 and for some of their accounts payable and and they use SAP MRP as well um to identify some of that that spend but
8:10 they also have Aribba um which although it’s SAP is not that well integrated with their SAP solution especially since
8:17 they’ve gone S4 and they they also have Kooper for some things Zikas for some sourcing and two different contract
8:25 management systems um conga and and one other Um I don’t forget what I forget what it was actually. And then the oh
8:33 yeah pecards they have as well and and one of the problem is what tool to use and when and by whom. Um but the
8:40 integration of those tools and more importantly the visibility of the process is lacking. They’re leaving money on the table and attracting risk
8:48 by not having a fully auditable trail um for compliance um and not managing all
8:55 of their spend. And that’s where focal point really shines by providing that seamless integration and a unified view of procurement data.
9:04 Yeah. Uh one thing I’ve been speaking to companies about is uh the lack of communication between internal teams
9:12 associated with the project. Uh I was actually speaking with a company the other day in the Fortune 500 and uh they’ve already done uh a handful of
9:20 work uh to attempt to increase visibility with those internal teams. Uh however the problem was having a record
9:28 of internal conversations sent via email, slack, teams um etc. uh that would be available for those folks uh
9:36 who touch procurement. Um and this was leading to confusion on timelines,
9:40 milestones, current project status and causing a whole lot more questions,
9:44 emails and phone calls. um you know creating that kind of disparit communication and focal point has the
9:51 ability to API integrate and pull all that information in uh give the the visibility to um all the folks who touch
9:59 procurement and what’s going on with the project.
10:02 Yeah. Yeah. That’s absolutely I just really want to jump um quickly back in on one of those topics as well. down in
10:10 the bottom middle there you you’ll see there’s a a bullet or whatever you want to call it of risk the risk management
10:17 is so important now um with complex supply chains and as I said before the geopolitical pressures
10:25 um companies like McKenzie and the hackey group they’re focusing on this area and clearly saying that advanced
10:32 analytics and scenario planning are are critical for identifying and mitigating these risks effectively
10:39 So I think risk we really need to to double down on and make sure you have that auditable trail as you go through
10:47 um and and bring whatever you can from the AI to help you to mitigate those risks as you go.
10:55 I’ve been hearing a lot of the same thing from the potential customers and and folks that I’ve been speaking with as well.
11:02 Awesome. Thank you both. That was amazing. So let’s move to topic three which is all about API. So Steve, why don’t you tell us something about APIs
11:09 and and why they are so crucial to making your data work for you.
11:13 Thanks Maya. Uh yeah, let’s uh let’s talk about APIs uh that application programming interfaces and why they’re
11:20 such a gamecher for procurement. Uh APIs allow different software systems to speak to each other. You know, making that real time data exchange possible.
11:31 Uh the connectivity is key to building uh a a cohesive procurement ecosystem.
11:37 Uh basically APIs are the pipes that move the right data around to the right place.
11:44 Exactly.
11:46 Yeah. APIs are essential for enabling the flow of data between systems and and this is awesome. If you if you were as old as I am and you’ve been around for
11:54 as long, actually moving data between systems, it’s not trivial. And and to get to a point where you can actually do
12:02 this in a relatively straightforward manner um and bring data into into one or more systems. This means that
12:10 procurement teams and others can access up-to-date information and collaborate more effectively internally and with suppliers and streamline their processes.
12:21 And it’s uh you know it’s not just about connecting systems but also about connecting people and enhancing functionality. Um these APIs enable
12:30 procurement platforms to integrate uh with so many different tools uh and applications. Uh and it gives you it
12:39 provides a more flexible and scalable solution overall. That’s yeah that’s right. Yeah. Yeah,
12:46 the flexibility allows organizations to adapt quickly as well and you know change is change is the only constant right um implementing the new tools
12:55 without disrupting their existing processes or architecture is is really important and actually enhancing the ROI for the existing solutions as well. So,
13:04 so people have paid a lot of money for for existing solutions and if if you have a Kooper, a Reebra, a Vuzy or a
13:11 Zeicus in place or others. Um, you can get more spend into it by enabling users with the right data and making their
13:19 lives just that bit easier. Um, and probably more enjoyable as well, which let’s not underestimate that. You know,
13:26 if you’re if you’re managing a team and you’re you’ve got the happy happy people working for you, it’s so much easier. Uh because they’re not d they’re not
13:35 hunting for their data. They’re acting on data. They’ve got the data already and they can make decisions and and actually make informed decisions,
13:43 right? And and most modern software solutions have APIs. Uh they’re already pre-built and most are open. So if it
13:52 has uh if it has a uh focal point connect to it and uh I it’s truly powerful when you can bring all of your
14:00 data from uh for example SAP, Oracle, uh Koopa all into one place. um additional
14:08 systems like Supplier IO, Dun and Brad Street, all of those systems that you use on a daily basis kind of creating that cockpit view of of those systems
14:17 and and that data and the inherent security and standardization of APIs uh
14:23 helps to ensure the data integrity and that’s extremely important and ensure you know each team can read what the uh
14:32 other system has to say. So it’s a it’s very important especially with the data integrity.
14:37 Yeah. And having worked for two of the three comp big companies you just mentioned with SAP and and Kooper,
14:45 I know that these systems often work in silos. Uh which means data gets fragmented as well and inefficiencies
14:52 just creep in. I was just talking to a to a company and and you know they they have problems with data. They’ve got
14:59 supplier data in three or four different systems. uh and to make sure that that data is is accurate in every system. Um
15:09 it’s really difficult. So without good integration, procurement teams are they’re often left struggling to keep everything running smoothly.
15:17 That’s a great point, Matt. Uh most of these legacy systems aren’t designed to handle that complex and really dynamic
15:24 nature of of the modern procurement uh and modern procurement need and team.
15:29 They lack the agility really to respond to the market changes and new business requirements that are uh really coming
15:37 at us very quickly on a day-to-day basis. Uh we’re seeing new requirements,
15:42 new needs uh and the market is developing uh at such a rapid pace.
15:48 Oh, absolutely. Yeah, it’s just changing from day to day at the moment. As a result, today’s procurement teams, they
15:55 just spend a lot a lot of time on manual processes.
15:59 Excel is is the best friend of many procurement people out there in in the world and doing data reconciliation in
16:06 Excel which it just hampers their ability to focus on strategic activities that causes security and human error
16:14 risks as well. So fixing the data for the procurement team not only enables a faster and more accurate approach in in
16:22 procurement but it also adds the ability to have you know real time information extract into Excel and then manipulating
16:30 data it can take days and the more data you get it could probably take weeks and by the time the data is out of date and
16:39 especially everything in in today’s postcoid world it just takes too long to fix those problems.
16:46 um that you have today, you need to fix them today. And to do that, you have to have the right data at the right time.
16:57 What do you think, Steve?
16:58 Oh, sorry about that. Uh yeah, I mean, I guess, uh one of us had to say, you know, postcoid at some point. Um you know, the dark days as I refer to them.
17:08 Sorry. Sorry, I had to bring it in.
17:12 It’s okay. We’re just hoping to stay postco forever. That’s that’s all my only ask, right? And uh you know this is
17:19 where the need for that robust integrated platform like focal point becomes really evident. Uh it addresses
17:27 these limitations by providing uh a modern very agile solution that integrates cohesively seamlessly with
17:36 all those existing systems. And uh I find that uh more and more that becoming a uh a priority um for most folks out there.
17:47 Yep. Awesome. Yeah. Thank you guys. That was that was really really great. I learned something too. And of course for our topic four um we want to talk to you
17:56 a little bit more about focal point. And Matthew, why don’t you go ahead and and take that away for us?
18:01 Yeah, of course. Um we have to talk at least a little bit about focal point,
18:06 right? So let’s just let’s just jump right in and we’ve brought it up a couple of times but focal point
18:13 addresses these points that we’ve been talking about. It provides a flexible and powerful orchestration layer and some have called it a central nervous
18:22 system for procurement which I absolutely love and I use it in every single meeting that I I have at the moment I think um because it integrates
18:30 seamlessly with existing systems and processes ensuring continuous data flow and enhanced visibility.
18:39 With focal point, you can leverage the full potential of your procurement data and make informed decision, improve
18:46 improve your compliance and then drive your strategic initiatives all in one place and keep an eye on all of that as you as you go forwards.
18:56 Right. Right. And one of the key advantages of focal point is the ability to provide a unified view of all those
19:03 procurement activities from you know front to back uh from left to right. Uh it means that procurement teams can
19:10 access all the information that they need from one platform uh rather than having to na navigate multiple systems
19:18 and and this really does transform the procurement 9 to5 uh giving visibility to to all those other teams. uh at the
19:27 same time it’s uh something that uh I’m looking forward to to talking to everybody about. It’s uh something I believe in.
19:35 I can I can feel it. Yeah. Features also like you know datari workspaces and customizable dashboards and real time
19:44 analytics. You know focal point empowers procurement teams and that extends into teams outside of procurement as well.
19:53 Um, so you can work more efficiently,
19:56 more effectively, and you can you can inform people of what’s going on at every step of the process and uh and make sure they have the right data,
20:05 right? Not to mention the ease of the integration with all of the other systems. uh the API connectivity that we mentioned early earlier with focal
20:14 points API connectivity. It allows for that quick and seamless collaborative integration with existing procurement
20:21 tools and applications and uh from this you can create uh uh comprehensive dashboards with consolidated data uh
20:29 allowing that you know near realtime access to reporting.
20:35 Yeah, exactly. And this not only enhances the functionality of existing systems, but it also ensures that procurement teams have access to to the
20:44 most up-to-date information for decision making when they need it.
20:50 Other users also know exactly where they are in the process and the next steps.
20:54 And in fact, if if you look at the screenshot right now, I’m peering at it in my laptop screen. Um, you’ll see what
21:01 we call the pizza tracker. It’s a graphical way of seeing progress which you can you can extend outside of the procurement team so that people can see
21:10 where you know has the pizza been baked is it on its way is it in the back of the truck or or whatever and from here a
21:17 user interested and or an approved person they can drill into the progression and the next steps allowing them to get the information you need or
21:26 as Steve said earlier we can simply fire updates to them through slack teams or email keeping and everybody informed and connected.
21:36 Our our platform actually was in a recent spend f spend matters uh white paper as well where orchestration was discussed. If you if you have the time,
21:45 take a look at it. You’ll see that we’re not just about intake and then orchestrating the process from intake.
21:50 We can orchestrate everything that procurement does. It’s actually pretty cool.
21:57 Yeah, it it it is really neat and I appreciate you going through all of that. Hopefully you guys were able to take a look at all those visuals as well because I think they’re super helpful.
22:05 So, um, just to kind of sum everything up, we we’ve talked about a lot today. Current priorities and procurement, um,
22:11 the importance of APIs, how focal point can transform your processes, and we’d absolutely um, love for you all to reach out. We don’t have time for a live Q&A
22:20 today, but that doesn’t mean we aren’t here to help you. Um, our our doors are always open. You can contact us via the website or via the LinkedIn. And you can
22:27 go ahead and visit us online, too, at www.get get foc.
22:33 Yeah, awesome. Thanks, Maya. Yeah, as as Maya said, visit our website and have a look. Um or just respond to the email
22:41 you’ve got about this webinar if you’ve got one or just reach out to me, Steve,
22:46 or Mayer on on LinkedIn or by other means. Um we’re we’re there to help. Absolutely.
22:53 Right. Don’t don’t hesitate to contact us directly, especially me, if you have any questions or uh need more details
23:00 about APIs uh for your current systems or anything else is interested you you today, especially that visibility piece.
23:07 Uh please reach out.
23:09 Yeah, we’re all super friendly. And one more plug before we do get out of your hair, we’ve provided you the super easy uh QR code. We would love to see you
23:16 back again on June 27th um for our next webinar that’s all going to be about unplanned work revolutionizing intake as we know it to level up your procurement
23:25 processes. So please feel free to join here and if you aren’t able to scan it’s also already live on our LinkedIn where you can go ahead and learn more about us
23:33 and contact us there. We want to thank you again for joining us. Thank you Matthew. Thank you Steve for all of your insights today and we really do hope to see you again on June 27th.
23:42 Yeah, please join us. Thank you.
23:44 Thanks everyone. I’m really excited for that one. Bye everyone.
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