Few people know what procurement is. But this didn't stop Chris Crane, who saw opportunity in the very outdated and incredibly inefficient world of sourcing and procurement, from trying to disrupt it. Turns out that his efforts were worth it – 5 years and hundreds of thousands users later, Scout RFP was acquired by Workday for $540 million.
On this episode of the Startup Exits Podcast, we chat with Chris about:
• What is procurement and how does it work?
• Taking advantage of inefficiencies in big companies
• How to sell to huge enterprises
• Switching roles from engineering to product
• Acquisition vs IPO
• Workday – going from an investor and client to acquirer
• The future of procurement
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