This spend management solution is designed to give Procurement teams an advanced yet easy-to-use solution, which unlocks access to the full power of holistic data, transparency, and actionable analytics for their decision-making.

During the conversation, Sigbjørn and Børge discussed sustainability success, AI, democratising data, diversity and reMarkables.

1. What’s Ignite’s mission?

Sigbjørn  

The mission for Ignite is to empower responsible decision-making for businesses, society and the environment. So we see that, in Procurement, they have a lot of data but they're not managing to use the data to make better decisions.  

So, taking this data from our customers - in addition to third party data, and data from the suppliers and the users of the suppliers - connecting it, then using it to provide insights and clarity, so you can make responsible decisions, not only with meaning from a business standpoint, but also from environmental and societal perspectives.  

We believe that all the three sustainability pillars are super important for Procurement in the future. So, the society part, the economic part and the climate part.

The mission for Ignite is to empower responsible decision-making for businesses, society and the environment

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2. What differentiates Ignite from its competitors?

Børge

I would say that what makes us different is the foundation we build ourselves on. So, we have an incredibly fast and flexible data management system, through which we can take in data from different systems, including transactional data, master data and so on.  

That is the foundation that we use to enrich with relevant data. For instance, on emissions, or relevant supplier information to perform social risk assessments. It is also the foundation on which we carve out the key information about your suppliers. So, all in one solution, you will have the infrastructure required to fetch information from those suppliers.  

I would say that we have a solution that can solve many individual problems very well. But, if you deploy them together, we have a fantastic solution that can really unlock magic for our customers, and change the way they manage their suppliers and spend.

3. What have been the most significant milestones in the Ignite journey so far?

Sigbjørn

I think we have several. So one is that, in the beginning, we both started as consultants. But then, in order to scale this business and really make an impact on a global level, we decided that we needed to move from a consulting company to become a SaaS company, and selling the first licence was a very important milestone in that direction for us, back in 2018.  

Then after that, there have been a lot of milestones, like getting the first investors on board, to showcase we have a leading solution in this space, and also launching the new sustainability models, so that we could get a really good impression from our customers.  

Now, we have more than 200 customers, our supply management module launched early this year, and got really fast traction. In addition, we have launched our carbon accounting module, and we have customers also saying that they use it for their report. They sent me their carbon accounting reports using numbers from Ignite, and that makes us really, really proud.

Børge

The most rewarding thing is when we have customers coming to us and say that what we do is fantastic, and tell us about the impact they get out of it.  

I think those are important milestones for us, for example, when we got our first customer, it's a fantastic validation for us that we have a really productive solution. Now, with the increasing focus on sustainability, when we see that customer actually buy and use our carbon accounting solution. When we are a key element of their sustainability reports, and also seeing how, regarding the new legislation requiring more transparency, our supplier management module helps customers address that.  

In just a few months, we have helped more than 150 customers with that. So, this is a big, big milestone and a big confirmation to us that we have something special.

4. What do you look for in the perfect customer?

Sigbjørn

We are looking for mid-market customers that have high ambitions, in terms of Procurement and how they want to do Procurement. Companies that see the value potential in their supplier base, want to become more data-driven, use all the data that's out there, make better decisions, and have sustainability high on their agenda.  

And then, to use Procurement as a lever to both reduce their emissions and reduce the social risk in their supply chain.

Børge

I support that, but I would also say that, when you look at the Procurement space, we have big ambitions.  

There is a lot of potential to use data to make more informed decisions, and our ambition is to really democratise this and make this accessible for some pioneering Procurement teams and businesses out there. So, I would say that the perfect customer is as Sigbjørn describes, but we really want to make something that is for all Procurement teams out there.

When you look at the Procurement space, we have big ambitions.

5. What are the foundations of a great team?

Børge

I think, first of all, diversity is a key thing. See, Sigbjørn and myself, we were football coaches together in the Boston Consulting Group, and that was where we first met and started to collaborate. We both have a consulting and business background. So in the very early days, we discussed together. We think very alike, so we need someone else that can challenge us, and that can come with different thoughts.  

We think very alike, so we need someone else that can challenge us, and that can come with different thoughts.

So, our first recruit was our CTO, who jumped on board with a different mindset. They’re highly capable, obviously, but they have also expanded the thinking of what's possible, what we can do, and how we can attack different problems. So, I think diversity is one thing, but there are many other aspects as well.

Sigbjørn

For example, the way that we have created better product teams exemplifies this diversity. We have product teams that consist of product managers, designers, tech leads, software engineers, and they each have different capabilities and roles in the team. For example, the product manager should understand the market and the user very well. Then, you have software engineers who are really good on the tech and engineering elements.  

To create a great product, you need all of these different capabilities, and to utilise each other. I think we have managed to build a team that has diverse abilities and where each can bring these qualities to the forefront. We are leveraging that approach across the different roles and teams in Ignite.

I think we have managed to build a team that has diverse abilities and where each can bring these qualities to the forefront.

Børge

In terms of personal characteristics that we look for in our people - and also try to live by ourselves, obviously - to succeed in building a successful company, we need very ambitious people. And I think that's a general thing, with the ambitious mindsets that we have in our teams, and also their being really dedicated to our customers. To solve their needs, and to solve any problems in the best possible way. Lastly, being ambitious, we need to accept that we do make mistakes, but we need to learn from them and move on from them.  

Sigbjørn

Alongside being ambitious and being dedicated, you also want the human aspect. For example, we need to teach our values, we need to treat our customers well, and so on... it's all very much linked together.

6. How do you incorporate GenAI and what will be your next major digital innovation?

Sigbjørn

So, we have quite recently launched two new modules. One module is supplier management, focusing on getting a full overview of your suppliers and understanding it from a 360 view. But also, having that social risk insight, and so understanding the risk and being able to do the diligence on that. That solution got really good traction following the legislation here in Norway with the Transparency Act, but similar regulations are coming in, for the rest of Europe.  

Then, we have the carbon accounting part, where we have all the spend data, and we are already collecting it, cleaning it, categorising it, and enriching it, so that the process remains more or less the same, but with different enrichments and so on.  

We have also very effectively added the carbon accounting module into Ignite. We have seen very good traction with those two, and they are both very aligned with the focus of the company, on all ESG and sustainability pillars.  

Then, going forward, you will see a lot of opportunities with AI. We believe that AI will be super important for the Procurement teams out there. I don't think it will replace Procurement, but I think it will replace those Procurement teams that don't use AI. And we have already started experimenting with that, and some features that will be very interesting for the product.

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7. What's the mid-long-term vision for Ignite?  

Børge

Going back to what Sigbjorn said, for me, I would say that it is to drive Procurement towards a state where it is the norm that you make informed decisions based on data, and also holistically. Not only within your contract requirements, but also with regards to the sustainability elements, with emissions, the social risk, certificates, subpar performance, and so on. Making that data accessible, and making it easy.  

Where I think we are today, this is quite far from the norm. Very few Procurement people or teams have this information in place, and the few that have, say it's typically fragmented. So that’s the long-term vision.

Not only within your contract requirements, but also with regards to the sustainability elements, with emissions, the social risk, certificates, subpar performance, and so on. Making that data accessible, and making it easy.

Sigbjørn

I will also add, getting power out of the supplier. A company has several important stakeholders - you have your customers, you have your employees, but you also have untapped potential within your supplier base, and getting that untapped potential out there is super important for us.  

The first step is to have that data available to be able to work in a data-driven way with your suppliers, and to be able to innovate together with your supplier base. So, there's a lot of potential there for Procurement, in the years to come.

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8. What needs to be put in place in order to realise that vision?

Sigbjørn

For us, it’s the team. For us, the people in Ignite are super important, in order to realise our ambitions. Getting the right people is going to be very important for us.  

Today, we have managed to create a fantastic team that we are very proud of. But, we need to continue to build this team, as we expand and continue to grow. So, continuing to attract top talent and, of course, also retaining that talent will be very important for us, in order to reach our ambition.

Børge

I will also add that another key ingredient is successful customers. So, if we create something and our customers are getting unmatched value from our solution, that is the foundation we need to get more customers on board, hence giving us the power to further recruit, retain and develop the people we need for an excellent product.

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9. What is Ignite doing for the planet?

Børge

On a high level, by making data accessible and more transparent for Procurement teams - what suppliers are complying to legislation, which suppliers are respecting human rights, workers' rights, their emissions, along with cost competitiveness and so on - we enable the serious, good suppliers to win, and help Procurement teams expose those that are not responsible. For instance, those that are polluting or are using child labour.  

Then, we are also helping in a number of lower-level ways. For example, on the emissions side - a super important topic - the first step is to understand where your emissions stem from.  

For most companies, the majority of the emissions is in their Scope 3 and within your Procurement. Getting a better understanding of where it comes from, and where to include emissions and CO2 in their categories, because you need to work with carbon emissions in the same way that you would work with cost, fact-based, data driven information, while also including your suppliers in it. So, getting carbon emissions into your category strategies and prioritising that, based on data, is something that our solution can help with. I think that's going to be very important, in order to reach the targets that we have.

INSTANT INSPIRATION

1. What is your favourite book or blog?

Sigbjørn

The Hard Thing About Hard Things. It's a very good book about building a company, and also showcases how hard it is to build a great company.

Børge

Then let me go for blogs then. I would say HubSpot’s blogs.  

2. Who is your favourite inspirational business leader?

Børge

Mark Roberge, the former CRO of HubSpot. What they have done is quite similar to what we are trying to develop, in the sense of building a platform to solve the key needs of other businesses out there.  

Sigbjørn  

The founder of remarkable: he worked at BCG, and managed to take a fantastic product globally from Norway. He also exemplifies that it is possible to build something great from Norway.

3. What is your favourite piece of technology (other than your own)?

Børge

We really like these reMarkables tablets. I'm very into writing with my hands - I have this connection with the hand and the brain.

4. What is your favourite cocktail?

Sigbjørn

Mojito

Børge

Whiskey sour

5. What’s your favourite way to celebrate success?  

Børge

We're too bad at celebrating success. We have so much to do, and we go over from the next milestone to the next milestone. So, we need to improve on that.  

But, I have one example though. My favourite example is when we reached the 100 Customers milestone, we bought champagne and poured it around in the office. It was a fantastic moment for the company.

Sigbjørn

I think we can improve on celebrating success. I think the best success is the next milestone, is how I see it. And getting other people on board and celebrating together with everyone is the best way.  

Key Takeaways

1. For most companies, the majority of the emissions is in their Scope 3 and within your Procurement. So, getting a better understanding of this is an invaluable aid to sustainability strategies.  

2. When working with carbon emissions, you need to approach it in the same way that you would cost, fact-based, data driven information.

3. Although it’s not set to replace Procurement altogether, the likelihood is that AI will replace Procurement teams that are unwilling to evolve with the times.

4. In order to succeed in building a successful company, you need very ambitious people.

5. Alongside ambition and dedication, you also need the human aspect within your teams, operations and approach.  

6. Diversity within your team is key. Without it, your perspectives (and so approach) will remain one-dimensional and unchallenged.

7. In addition to a solid team, in order to realise your ambitions, you need successful customers. This is the foundation that gives you the power to further recruit, retain and develop the kind of talent you need to develop an excellent product.

About Ignite  

Ignite offers supplier and contract management, carbon accounting and spend analytics solutions.  

Empowering responsible decision making, by helping users work with their suppliers in a more efficient and strategic way. Ignite lets users assess their suppliers across ethical, economic and environmental perspectives, to unlock the potential of their supply chain.  

About ProcureTechSTARS

ProcureTechSTARS are the digital Procurement CEOs and Founders who are

transforming Procurement and the enterprise.

In an open conversation with these leaders, Lance Younger discusses the highs and

lows of building the future, the challenges they’ve faced, their perspective on the latest

developments, and what motivates them.

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