Art of Procurement 810: Making Startup Partnerships Work for Enterprise Procurement W/ Matt Ziskie
“Procurement officers are going to have to go hunt for the solutions they need and the workflows that can help their business. I do feel like to do this job properly moving forward, it's an offensive job, and you don't have the luxury of sitting back.” - Matt Ziskie, Co-Founder, Bungalow Capital
How procurement approaches working with smaller, innovative startups can look quite different than other supplier relationships.
From lengthy sales cycles, complex negotiations, and mismatched expectations… these and other roadblocks can crop up in different ways depending on the size, scale, needs, and maturity level of the supplier. Procurement has to understand the unique needs and constraints that each type of supplier brings to the table.
In this episode of Art of Procurement, recorded on stage at Catalyst LA, Philip Ideson speaks with Matt Ziskie, Co-Founder of Bungalow Capital, about bridging the gap between enterprise procurement and startup innovation. Matt offers a unique perspective, having worked as a procurement leader at companies like Box and Airbnb, and now as an investor helping startups navigate enterprise sales.
In this episode, Matt explains:
- Why enterprise procurement teams should consider segmented processes when working with startups
- How to mitigate the "fragility" of startup partnerships without ignoring the tremendous value they can provide
- The importance of communication and transparency to understanding the real financial impact of enterprise contract terms
- Practical ways to support startups beyond contract terms, including coaching, references, and protection from scope creep
Links:
- Matt Ziskie on LinkedIn
- Subscribe to This Week in Procurement
- Subscribe to Art of Procurement on YouTube