In Conversation with Nico Bac, Founder ‘Digital Procurement Now’. He is an Expert in Digital Procurement Transformation with over 20 years of experience in Purchasing, developing sourcing teams around the world and Supply Network Design. 

Nico Bac

• Information and expertise are more freely available to buyers. So they can take advantage of the changing environment and tap into data regarding risk profiles, financial health, environmental performance and social performance of suppliers. 
• In the last 15 to 20 years, companies have invested heavily in procurement expertise as well, especially in the area of indirect procurement. Indirect procurement deals with inputs that do not directly translate into production output, but aids the process. This includes IT and software, security and services. Teams that are involved in assessing such options need to be very diverse and also morphs the role of the procurement expert from that of a buyer to that of a business manager. 
• When it comes to Digital Transformation, the key is innovation rather than price. The stability of the product and reputation of the provider also matters. When buying entirely new products, internal teams may not have the full knowledge to assess products and services, so they have to rely on external expertise or experience. Often pilot programs are not feasible. So the next best thing to do is to talk to existing customers of the providers that can give a clear idea of what is suitable for the particular needs of the organization. For various kinds of purchases, the evaluation criteria are very different. 

These and more insights you never find in the public discourse around Sales and Buying in this candid episode of The Buyer Side Chat.

Run time – 32.31 mins.