In this episode of The Procuretech Podcast, host James Meads is joined by Simon Geale, VP of Procurement at leading UK-based consultancy Proxima. This is a fireside chat-style episode about the latest trends in procurement technology. Simon talks about his background and role at Proxima, and the company's focus on serving large enterprise clients with complex procurement problems. They also touch on Proxima's acquisition by Bain and its potential impact. Tune in to hear their insights on how technology is shaping the future of procurement. Digital procurement: ongoing developments and trends In this episode, the exploration of generative AI's role in procurement tasks reveals a perception gap between its potential and the value offered by traditional providers. Despite acknowledging generative AI's capabilities in vendor discovery and strategy development, the episode highlights some of its potential ineffectiveness if not used properly. The discussion raises questions about software vendors being able to adapt to this gap, and also touches on the democratisation of tools like ChatGPT and its role in automating procurement tasks. We discuss the continued flourishing of digital procurement startups, which significantly expand technology options for digitisation and innovation in our profession. Emphasising the importance of realistic expectations, the episode underscores the evolving landscape where innovation is not solely dependent on budgets, and it concludes by urging effective communication about AI capabilities and limitations, in a world where the belief in the omnipotence of systems persists. Timestamps: [00:01:09] Introducing Simon Geale of Proxima [00:05:33] Interacting with Proxima clients. [00:08:29] Digital maturity and procurement. [00:13:16] Lack of dynamism among CPOs. [00:15:02] Digital transformations and failure. [00:18:49] Setting realistic expectations in procurement. [00:23:02] Perception gap in AI advancements. [00:26:41] Industry 4.0 revolution. [00:30:57] The future of ERP. [00:34:10] The future of procurement tech. And that wraps up another episode of The Procuretech Podcast! Thanks to Simon for sharing his insights with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there. If you want to learn more about Simon Geale, Proxima or Procurement Software, check out the useful links below. Stay in touch! Connect with Simon Geale on LinkedIn Check out Proxima Sign up for the Procurement Software Newsletter Book an Intro Call and let’s talk all things Digital Procurement! Connect with James on LinkedIn Follow Procurement Software’s LinkedIn Page