Acceleration Economy’s Digital CIO Summit event is taking place April 4-6. In this preview interview, Aaron Back speaks with Acceleration Economy analyst Joanna Martinez about how the data and process-driven experience that procurement professionals possess can be applied to technology purchasing decisions for organizations.
00:19 — Aaron cites Joanna’s recent article on why data is the new supply chain procurement asset and asks Joanna how data can enhance the conversation and decision-making process between the CIO and the chief procurement officer (CPO) during technology purchases.
01:25 — Joanna says that what procurement chiefs bring to the table is the ability to take a business problem and break it down into data. Even if the procurement professionals working with the CIO are not as well-versed in technology (which is often the case), they can still ask the right questions and ensure that everyone in the room is on the same page in terms of what they are looking for.
04:16 — Another key area of the CIO Summit is the participation of customer companies that are actively utilizing technology, specifically in areas including cybersecurity, data, AI, hyperautomation, and cloud. Aaron asks Joanna how she views the importance of having customers share their stories versus relying solely on tech companies to tell the story, as was often the case at past industry events.
04:53 — Joanna thinks a blend of both is needed, explaining it’s important to hear from a blend of suppliers and clients to get a sense of the breadth of a technology’s functionality.
07:19 — Procurement executives should also participate in the technology purchasing process because of the sizeable overlap among different technology solutions that target specific business problems. The challenge is integrating these solutions with other technologies used in the rest of the business process. As these companies make deals, get acquired, and grow their capabilities, their solutions become more complex and start to overlap with each other. Each company may be known for a specific process but has acquired companies that specialize in other processes, so it’s essential to delve into the specifics of each solution in a fact-based way to educate oneself on exactly what it does.
To hear more data modernization, AI/hyperautomation, cybersecurity, and growth strategies from CIO practitioners, tune into Acceleration Economy’s Digital CIO Summit, which takes place April 4-6. Register for the free event here.