Unboxing the Future of Procurement

Earlier this week, we at FaaST Solutions had the pleasure of hosting our first-ever in-person event, titled “Procurement in a Box,” right in the heart of London. Held in the stunning Scalpel building, the event was a meeting of minds with eager professionals gathered to explore the evolving world of procurement, especially for small to medium-sized businesses.

For those who missed it, here's a brief rundown of what we covered:

James Marland, Global Vice President at SAP, opened with a presentation discussing the evolution of procurement through history and in organisations. Using a maturity model diagram, he illustrated how procurement processes and needs evolve as companies grow. Initially, companies operate with the mindset of "running fast and breaking things," often with no formal procurement process or technology investment. However, as they grow, the need for control, approved vendors, and procurement investment becomes apparent. James introduced "Procurement in a Box" as a middle-ground solution for companies that aren't large enough to warrant a full-fledged Chief Procurement Officer (CPO) but need more structure than the "run fast and break things" stage. He explained how procurement solutions like the one offered by FaaST Solutions could provide SMBs with both speed and control by offering recommended providers and a pay-as-you-go model.

Following James, the spotlight turned to Phil Biddle, a Global Commodity Manager from Siemens. Phil shared his experience implementing a digitalisation program for temporary labor at Siemens. Despite Siemens being a large company, it faced challenges similar to those of SMBs due to multiple business sectors / operations across various locations. Phil detailed the journey of navigating fragmented manual processes, lack of transparency, compliance, and other issues before adopting the SAP Fieldglass end-to-end workflow and managed service model. He emphasised the benefits of the program across functional areas, highlighting improvements in efficiency, compliance, talent pipeline management, and cost savings, and discussed the importance of having a standardised workflow and support from senior stakeholders for successful change management.

Despite Siemens' global stature, Phil revealed how its multiple business sectors / locations structure aligned more closely with SMB realities than one might assume with a key enabler the aligning of diverse and independent stakeholders under a unified procurement programme.

I had the honour of wrapping up the presentations, explaining how FaaST Solutions can help SMBs adopt procurement solutions more efficiently. Highlighting the common barriers that SMBs face when implementing procurement technology, such as lack of procurement expertise, economies of scale, cash flow, and access to technology. FaaST Solutions aims to overcome these barriers by providing a simplified wizard-based setup, access to a network of approved suppliers, self-service administration, no upfront cost, and a commitment to customer success.  The focus is on speed, simplicity, and scalability, with a pay-as-you-go service to revolutionise how SMBs view and implement procurement strategies.

Throughout the event, the discussion was interspersed with metaphor and anecdote, ensuring the conversation remained engaging, insightful, and, crucially, accessible. There was no reliance on jargon here, just a friendly, inclusive dialogue that promised a procurement evolution within reach of even the most resource-conscious businesses.

I'd like to thank James and Phil for sharing their stories and expertise. It was a blend of strategic high-level perspectives and practical, grassroots challenges that businesses face daily.

Do stay tuned for our next event, as we’d love to continue these conversations. Meanwhile, our doors and inboxes are always open for a friendly chat about all things procurement.