The $540 million sale to Workday

In our conversation with Chris, we dive into the world of procurement, explaining what it is and how it works. He discusses how to take advantage of inefficiencies in large companies and shares strategies for selling to huge enterprises. Chris reflects on his own transition from engineering to product management and the key decisions between pursuing acquisition versus an IPO. He also shares the story of Workday, where he went from being an investor and client to ultimately becoming part of the acquisition. Finally, Chris provides his insights into the future of procurement and how it may evolve.

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 But this didn't stop Chris Crane, who saw opportunity in the very outdated and incredibly inefficient world of sourcing and procurement, from trying to disrupt it.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.