In the last decade Procurement has undergone a monumental transformation, both from a technical as well as a perceptional point of view. This transformation has just emerged to the inception of what is considered true innovation and transformation.

Emerging technology providers will change the future into a more stable, fair and transparent world. Together with other solutions we are redefining procurement practice that has been put in no-load by incumbent players for the last couple of years.

When Daniel, Philipp and I started Prospeum nearly 2 years ago we where driven by the idea of building a more efficient and transparent sourcing process with an easy-to-use workflow software. To ease the life of thousands of procurement managers all around the world. While researching, planning, feedbacking and building our first solution, our team also got caught up in the mentioned no-load maelstrom imposed by incumbent software and consulting providers. Having presented and tested our solution with a large number of users we finally had to realize that this was not the source of truth. While we still see the relevance for an easy-to-use workflow solution, we also realized that true leap-frogging requires out-of-the-box thinking as well as data-driven automation and intelligence.

We became aware that services procurement becomes exponentially more important in our world of today and tomorrow. We are more than proud, that today marks an important day for us, since we have taken these insights seriously in the past months and shifted our company, mindset and tech towards this direction: Services Sourcing Automation driven by data.

We call this new direction Sourcing at Scale.

In the next years Prospeum is striving towards revolutionizing procurement bottom-up and changing the way how organizations purchase, manage and control services and their business partners. We envision a level playing field for B2B services, driven by merit and data. This means our solution will evolve to facilitate our partner’s daily challenges with more usage of data, guidance and automation. This includes simplifying the partner (supplier) lifecycle management, increasing the sourcing ratio and enforcing data-driven decision making for procurement professionals to create fair and transparent competition for business services. It also includes our goal to transform non-procurement professionals to procurement experts by providing them the right tool at hand. Ultimately we will help organizations to become more efficient, profitable and diverse.

The entire Prospeum team is flying high to disrupt the market for procurement technology. For those who are already accompanying our journey and believed in our vision from the very beginning, we are beholden in our gratitude, proud and energized to have you on board.

To continue this journey and build a better world.

Every day.

Together with you.

For those we haven’t spoken to yet, we very much look forward to our paths crossing and partnering with you!

Realizing Sourcing at Scale – We’re all set.

Sincerely,

Friedrich Kern