On the 19 May, the team at Acquire attended the CIPS Innovation in Procurement QLD regional event.
Acquire heard from Blue Chilli, a start up accelerator and tech start ups in the procurement innovation space being Unscrabble, Plant Dispatch (to be renamed to 3 Way Match) and Lawcadia.
The beginnings of all three start-ups was the recognition of issues faced by procurement in the business and recognition of a gap in the market to resolve such issues.
Unscrabble is the brain child of mining & retail master data experts, Steve Mardon and Sujata Karandikar (pictured above). The platform aims to address current information sharing efficiencies between supplier and buyer. Through my experience as a procurement professional, this is definitely something that the procurement profession can do with. In my previous oil and gas organisation, the introduction of other platforms to manage such data assisted greatly in reducing the time wasted by suppliers to provide the same information tender after tender. It also showed great potential for buyers to gather supplier and market intelligence.
The Unscrabble platform differs from other platforms as it is 100% free to connect. Sujata from the Unscrabble team explained that by charging a fee, it automatically puts up a barrier for the supplier to connect. Instead, Unscrabble intends to make money by providing additional features, such as reporting, for a fee that is a fraction of their competitors.
Unscrabble is in beta mode but is already working with a number of Australian bluechip companies to solve their supplier data problems. If a supplier wish to sign up (remember it is free) please go to their website at unscrabble.com.
Plant Dispatch was founded in Brisbane by procurement stalwart, Alan Haynes. It offers a more efficient way to complete the ‘3 way match’, a term well known in procurement and accounts as the match between purchase order, goods or services entry sheet and invoice that has to occur before payment to the supplier occurs. No doubt most procurement professionals have had their fair share of supplier chasing for payment because of a problem with a 3 way match (which becomes worse when there is a retrospective PO thrown into the mix).
At the time of writing, Plant Dispatch’s website is down as they are moving to their new branding. To find out more, you can contact Alan Haynes at email@example.com.
Lawcadia was founded in Brisbane, Australia, by senior corporate lawyer Warwick Walsh, and offers a platform that has great potential to disrupt the way that legal services are procured. It aims to better match the buyer’s legal matter to the law firm that is best suited to perform it and introduces a rating system so that lawyers are held accountable for the services delivered (we rate products, restaurants, movies, doctors, so why not lawyers too?). Importantly, it also aims to create more transparency around the quoting of scopes. In a procurement category where the uncertainty of fees and uncertainty of who to go to for what are frequent frustrations, Lawcadia can definitely add a lot of value.
Check out Lawcadia’s recent review (and their competitors) in the Australian Financial Review (AFR): Start-ups helping in-house legal teams reduce spending
Since the above review in the AFR, Lawcadia has been working with a number of organisations in both private and government sectors.
The great thing was that the founders of the start-ups are the same people who have experienced the problems first hand and wanted to not only solve it for their own organisations but for the industry as a whole.
Acquire wishes these start-ups all the best in their journey, not dissimilar to Acquire, to challenge the norm.
Missed an Event?
Check out this list of all the procurement related events in Australasia in 2016.