ALM Intelligence: What are the major trends that you are seeing?
Schannon: One major trend is an increasing interest and emphasis on Digital Procurement. The use cases and benefits are becoming clearer, and executives are expected to be operating in a digital world. Meanwhile, according to Bain’s research, 80 percent of procurement executives believe they are not engaging enough with new digital solutions. This universe of technology solutions and tools is exploding and procurement teams are often struggling to navigate this landscape and craft a coherent plan. Another trend we are seeing is around agility. As businesses, supply chains, and the broader macro-economic and geo-political landscapes are changing more rapidly than ever before, procurement executives are recognizing the need to be more agile and have the ability to change course on a moment’s notice.