foreign [Music] [Music] tools are great for what they were built for you know they were purpose built in their time and built with Excellence right so they definitely serve a great purpose however now you know that served us well for 20 some years but now it is that inflexibility and what some would agree is a horrible user experience right as those tools have been built up and built up and built up layer after layer over the years it's a horrible user experience right that is driving users away from wanting to use the traditional e-procurement procurement process and tools right over at Amazon business and other call it b2c retail like marketplaces that are abundant with Supply right and have quite frankly a delightful user experience this is attracting users to use it because it's just it's easy it's a big problem and so the users are flocking to these great marketplaces that are you know if you look under the hood they're still very beat to see and at the end of the day they are a retail company right they are measured by especially if they're a public you know publicly traded company they're measured by sales net new growth of sales so their metric that they are measuring themselves by is based on your company buying more goods from them right meanwhile the CPO Chief procurement officer anyone in finance and procurement at a business is has a completely different objective their goal is savings and operational efficiency and cost savings on that front right so it is competing interests that makes this movement to the b2c retail marketplaces that are becoming B2B marketplaces a problem for businesses the marketplace can make more money by adding more value to their buyers and more value does not necessarily mean hey here's some more like products or buy this thing too it can be service oriented it could be quality oriented it can be trust and relationship building and all these things are now more and more possible through you know e-commerce Marketplace experiences and you know at trade shift that's what we are very much believing in and doing what we can to bring those values to the Forefront for for the customer if you're already a category leader in category meaning you're an expert in a particular Supply category country you know region or whatever industry and you're already offering services in your industry in your category with Excellence you have buyers you have suppliers or maybe you are a manufacturer and supplier and you're a market leader if you are not making Investments to offer a Marketplace capability to your network of buyers and sellers then Amazon will eventually the writing is on the wall right so our push and our tools are to enable to empower those leaders that are already the experts right in areas that the Amazons and the alibabas and the others are not yet playing in because it's difficult right to innovate now invest now and offer your own Marketplace capability to your buyers right they're looking for that user experience they are looking for more control right not necessarily just buying anything and everything that's in front of them like on those marketplaces right and they're looking for your Supply right they're buying from you now but there are easier experiences that they can buy from you in in the future once those other marketplaces start to gain that Supply so while you have you know a corner on your Market our recommendation is add a Marketplace technology layer on top of your infrastructure right and please those customers with that user experience with that control and you know more and more of your supply we're offering that Apple TV that OCTA unified experience where all the marketplaces are existing inside of one tool and it's seamless for the buyer seamless user experience seamless seller experience to to do all of that activity at one starting point we think the energy is flowing in that direction so it is different right but it's it's not new anymore it's already happening it just hasn't happened in B2B hasn't happened in procurement and for the operator right it also makes it a lot better for them because on a network they are benefiting from growth that's happening across other marketplaces too so sourcing Supply becomes faster becomes easier it's more transparent sourcing new buyers becomes you know almost as easy as putting a sign out there and you know if your value proposition makes sense that buyer at that particular time you know it's like Hulu saying hey we now have Game of Thrones anyone interested in watching Game of Thrones yeah absolutely I am so I'm going to subscribe to hula hoop right um it's kind of that digital experience right that that the buyers have suppliers have and same with the op with the marketplace operators thank you [Music] foreign [Music]