Supplier risk management within an S2P suite – Ward Karson from Raindrop

In this episode of the Procuretech Podcast, host James Meads is joined once more by Ward Karson, Chief Operating Officer of Raindrop – an enterprise spend management suite based in California. Today they discuss the pros and cons of tackling supplier risk management from within an S2P Suite. Supplier Risk Management Within an S2P Suite – Ward Karson from Raindrop Timestamps 2:34 Background on Raindrop. Introducing Raindrop. UI, UX and speed of implementation. The grand fallacy of the procurement industry. <br/> 6:55 How long does it take to deploy a product? It takes 12-24 months to deploy a piece of software. Deployment takes forever money. <br/> 9:46 The problem with technical debt. The grain fallacy of the procurement software industry. How to prevent legacy providers from changing. Rising tide lifts all boats. The tech foundation of the company is important. S2P and P2P software is complex. The letter 'P'. <br/> 15:56 Integration with other procurement systems. Challenges of integrating with multiple technology solutions. How to integrate with each technology solution provider. Implementation of P2P tools for procurement and finance. Procurement resource per minute. <br/> 19:01 User interface user experience and integration. The importance of quick and painless solutions. How to make the procurement process quicker and easier. User experience and why it matters. B2B and B2C adoption of UX. UI/UX is what is going to drive the industry. The ERP industry needs more modernity. <br/> 25:03 What are the structural and people problems? Nobody gets fired for recommending IBM. The age old conundrum.  <br/> 27:09 Ease of use solutions increase stakeholder adoption. Mindset problem, not a capability or leadership issue. B2B vs B2C, ease of use. Benefits of ease of use solutions. Reduce maverick spend, increase addressable spend and manage spend. Self-service from stakeholders. Reduce the transactional workload of procurement. <br/> 33:05 Why do you think large consultancies still partner with legacy technology? Why the industry has not shifted. Time and materials businesses need consultancy. Risk cap, 20-30% risk factor for projects. How do you fix the problems with legacy providers? World class talent and the right change management strategy. How to get in touch with Ward. <br/> And that wraps up another episode of the Procuretech Podcast! Thanks to Ward 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 Ward, Raindrop, or Procurement Software, check out the useful links below.   Stay in touch! Connect with Ward on LinkedIn Check out com Sign up for the Procurement Software Newsletter Book an Intro Call and let’s talk all things Digital Procurement! Connect with James on LinkedIn