“And what autonomous commerce means to us is the ability to bring buyers, suppliers, partners, things together in a self governing, multi-tenant, SAS platform for end to end B2B commerce. And so if you think about what's required in order to get autonomous commerce, there's a couple of key elements of that, one of which is data.” Jim Bureau, CEO of JAGGAERStephany Lapierre welcomes Jim Bureau, CEO of JAGGAER, to the show to discuss JAGGAER’s partnership with Tealbook. They explore Autonomous Commerce, how COVID shaped the buyer and supplier relationship, and how they are designing responses to customer’s demands for time to value in applications. In this episode, learn more about: How covid accelerated the buyer and supplier relationship within the procurement ecosystemExploring the concept of Autonomous Commerce, applying lessons learned from CRM to the buy-side of business Why time to value is the most impactful KPI for procurement organizationsJim Bureau came to JAGGAER most recently from the CRM space, and he shares with Stephany how the impact he saw made in customer service in the CRM space is what he’s now applying to the spend management space. Jim explains how he is working to shift spend management to Autonomous Commerce, which he defines as the ability to bring buyers, suppliers, and partners together in a self-governing multi-tenant SaaS platform. He stresses the customer’s need for time to value in usage. Stephany and Jim reveal how the demands in their respective worlds - from procurement issues to collecting data to scalability - led them to their respective innovations and current partnership. Information, records, requirements, and automation are all necessary in enabling faster onboarding, better supplier experience, and reducing redundancy. This episode sheds light on truly exciting developments between Tealbook and JAGGAER. About Jim Bureau: As Chief Executive Officer, Jim Bureau is responsible for JAGGAER’s overall vision to transcend customer experience by providing intuitive and intelligent spend management solutions that allow JAGGAER clients to transform their supply chain. He brings more than 25 years of leadership experience, with his most recent role as Executive Vice President, leading JAGGAER’s Global Sales & Marketing initiatives. Jim came to JAGGAER from Verint Systems/ KANA Software where he was in the role of Senior Vice President. As an executive with KANA software Jim played a key role in successfully growing the company as it was acquired by Verint Systems for $514 million. Prior to Verint/ KANA, Jim held leadership roles at Pegasystems, Shared Health, and Oracle Corporation. He also holds a B.S. degree from Georgia Institute of Technology. Links: Stephany Lapierre - TealBook: website | twitter | linkedin | youtube | instagram JAGGAER Jim Bureau on LinkedIn Transcription: Katherine McCleery Welcome to Data Unleashed, a podcast that brings you insights from procurement's most innovative visionaries. Alongside incredibly brilliant guests, show host Stephany Lapierre explores the power of data, how it challenges us, and how you can challenge the status quo. You'll be inspired, but more importantly, you're getting actionable advice in every conversation that will help you unleash the power of data in your own organization. Katherine McCleery Welcome to the show, we're on episode three of Data Unleashed. I've got Steph Lapierre of TealBook here with me. I'm Katherine McCleery. And today's guest is a special one to TealBook. Steph, let us know who we've got on today. Stephany Lapierre Well we're talking to Jim Bureau, he's the CEO of JAGGAER and Jim and I got to know each other over the last couple of years. JAGGAER had approached us a couple of years ago to better understand the vision and what we were working on and our position in the market. And we have a lot of partners, but he was definitely at the forefront of looking at how can data contribute to his vision of autonomous commerce. And what's interesting about Jim is that it's the first time that he's been in procurement. Prior, he's been a CEO and an executive with lots of experience, and prior to that he was working more on the other side, on the sell side. And there's a lot of parallels that we see that's migrated from sales side to buy side, which is procurement, over the last decade that we can learn from. And both him and I agree that when you look at what happened just over a decade ago, Salesforce came out, suddenly this, you know, this cloud based CRM system was going to fix customer data, everyone was going to have access to the customer source of truth. And in reality, it made it easier to implement, it made it easier to get all the updates versus on premises, but actually, the data didn't get really good unless humans, people, employees, maintain the data. And what we saw as these newcomer platform, as technology evolved, that were focused on aggregating, collecting information on businesses, in a way that they could feed that data into Salesforce to improve things like contact information. And as contact information became more automated, it improved sales and marketing outcome and business development. And that's where Jim, his lens came, like 'Hey, when I entered this new world of procurement, I was shocked to see how far behind the technology stack and the innovation versus on the revenue generating side that has already been over a decade'. So what can we learn and apply from what happened on the sell side? And how can we migrate this to the buy side, to enable procurement teams to be as agile, automate the things that are tactical and low value, so that we can focus on more strategic drivers. And to his point, how do we get, you know, the seat at the table is by delivering value and by contributing to those core business objectives. And so our visions really marry what's been done in procurement, building software solution to collect in workflow processes. And that's been done well, and there's a lot of competitors, and it's a pretty crowded space. Where he's taking JAGGAER is more on this, how can we further automate some of these processes to make it more autonomous? And then how do we bring data to ensure that, you know, the things about collecting information - asking suppliers to populate their profile, asking employees to validate, you know, manually, or collect records manually - how can we bypass this so we can marry the best in breed of software solution with the best in breed of data platform. And so our partnership with JAGGAER is one that's been very successful. Lots of excitement on both sides, lots of success story of customers that have now embraced this marriage between the software to autonomous commerce vision, and what they're delivering to their customers to TealBook's vision on autonomously enriching supplier data. To remove a lot of the manual process to collect, enrich, distribute data, and also to reduce the burden on suppliers to maintain the same information across multiple portals. And so our long term vision is very similar. How can we make the experience easier for suppliers? How can we remove this barrier that has been put upon them to bring this, like, they call it portal fatigue, right? So if suppliers are not coming into a portal, they're not putting the information, and you don't have other ways to autonomously enrich the information in the portal, and you're going to build your transformation and you're going to make decisions without having all this good data that can drive so much value out of your investment in systems. Katherine McCleery What I love about this conversation with Jim is that he really does bring that sell side perspective that procurement has been needing for years and years, and creates an incredible product on the procurement side with the same kind of vigor that the sales side has had for so long. So here's my favorite little snippet - and I won't give away too much because this is a great episode with Jim - but, you know, he mentioned, 'Hey, procurement hasn't changed all that much', as a CPO why do you have a seat at the board table now? And he said, 'Well, because it's impacting top line revenue, and they want to know how I'm going to, how we as procurement, are going to fix it.' So in a nutshell, he really gets into the core of that for procurement, with such an incredible set of experiences from years before. So I hope everyone enjoys this one. It's a deep dive. And I know that you and Jim really get into the partnership. But you also talk very high level about the future of procurement, and how this new approach, the CRM approach, essentially for autonomous commerce, is changing the way that we do procurement. Stephany Lapierre And if we go back to Elouise Epstein's spider chart, it actually makes what she's talking about real. Like, our partnership, and the fact that we can now enhance data in JAGGAER so that the customers of JAGGAER can benefit from better data on more attributes across all of their suppliers, it's really kind of more than making that vision more tangible. And it's so amazing that JAGGAER is one of the first ones who've embraced that partnership and that marriage, and we are driving a lot of value. And we're seeing a lot of growth and successes within a relationship and a partnership. Katherine McCleery All right. Well, without further ado, let's jump right into that interview with Jim. Stephany Lapierre So Jim Bureau, I'm super excited to have you on the Data Unleashed podcast. This came about during COVID, where I was connecting with customers, thought leaders, partners, and we're having such fantastic conversations. And I thought, not because of what I had to say, but more what I was hearing, especially that things were happening so fast, that I thought your industry would love to hear these types of conversations. It took about two years to finall
