FAQ

Thank you for your interest in SIGInnova. Please complete this form for more information and to help us better understand how to serve your company.

  • What is the purpose of SIGInnova?
    To help SIG’s buy-side companies--and ultimately other Fortune 500/Global 1000 companies--capitalize on their combined knowledge, experiences and buying power to benefit from new, innovative Source through Supply Chain (SSC) and related products.
  • How is SIGInnova organized?
    The heart of SIGInnova is its Leadership Council, comprised of approximately 24 CPOs and select other executives from SIG’s buy-side member companies. All of SIG’s buy-side members are eligible to participate in various SIGInnova activities and benefit from its services. SIGInnova is managed and staffed by SIG and Creatze (led by SIG’s founder and former CEO Barry Wiegler).
  • What is the role of the SIGInnova Leadership Council?
    Council members: (1) identify, discuss and evaluate issues, opportunities and ideas for new Source through Supply Chain products that don’t appear to be currently available; (2) potentially participate in guiding the development of selected new products; (3) evaluate mid-stage products, primarily from emerging providers; (4) coach and otherwise assist early-stage companies and entrepreneurs in the SSC space; (5) bring to SIGInnova’s attention new products and companies that may have significant potential.
  • For how long does a SIGInnova Council member serve?
    Either for 18 months, 24 months or 30 months, initially based on a lottery approach. The intent is to rotate 1/3 of the members at a time.
  • As the CPO for our company I have a very busy schedule. Can others in my organization participate in order to accomplish SIGInnova’s activities?
    Yes. While we anticipate that you will participate in the top Leadership Council meetings, we encourage your direct reports, with your authorization, to actively participate in identifying, discussing and evaluating products within their areas of responsibility.
  • How often will the Leadership Council meet?
    The plan is to effectively conduct SIGInnova’s business while minimizing travel. Two in-person Council meetings will be held annually, the timing of which may be in conjunction with SIG’s semi-annual Summits. Online meetings will also be held quarterly and/or as needed for product evaluations and specific working groups.
  • What are the benefits of serving on SIGInnova’s Leadership Council?
    The SIGInnova Leadership Council provides an organized forum for participating with a number of the brightest, most innovative Procurement executives to learn about and discuss the future of Procurement and the products that will help create change. Leadership Council companies will benefit from early identification of potential investment/partnership opportunities and an option of being a beta site. Additionally, members of the Leadership Council will receive industry recognition and increased service benefits as part of their company’s SIG membership. There may also be opportunities for SIGInnova Leadership Council members to join a provider’s Advisory Board. If this occurs, it is the responsibility of that member to ensure conformance to her/his company’s policies in this regard.
  • What is SIGInnova’s policy with regard to confidential information?
    Each Council member is expected to fully conform to her/his company’s policies as it pertains to confidentiality. Providers that are being evaluated will be instructed to not disclose their confidential information. In instances where further information may be needed from a provider for evaluation purposes, SIGInnova's staff will recommend how to proceed. Leadership Council members are required to not disclose information discussed in SIGInnova proceedings beyond their respective company.
  • If I serve as a member of the Board or an advisory users group for one or more providers, how do I balance my confidentiality obligations with regard to those providers while actively participating on the SIGInnova Leadership Council?
    SIGInnova would expect you to fully honor any such agreement or commitment with another provider. This will include ensuring that you not share confidential perspectives learned from another provider during SIGInnova discussions and possibly recusing yourself from discussions or evaluation of potentially competing products and services.
  • How is SIGInnova supported financially?
    SIGInnova is currently funded by SIG and Creatze, with sustaining income planned from services to providers, including sponsorship fees and fees for helping them develop, refine and market their products. Providers in the mid- and early-stage categories are inherently cash constrained, therefore we will include success fees in the model.
  • Is this for buy-side executives and practitioners only or can advisors and providers participate in meetings?
    SIGInnova is focused on meeting the needs of SIG's buy-side members. While participation from providers is currently limited to their presentations at meetings, we believe there could be substantial benefits derived from interaction with selected advisors, which will be discussed during SIGInnova's first Leadership Council meeting.
  • If I have an idea for a product and share it with SIGInnova, will I be able to participate in any eventual profits from it?
    Ideas shared within SIGInnova are considered to be available to all, without any proprietary interest by the discloser or the discloser’s company. If you have an idea that you are interested in developing yourself, we encourage you to do so or to do it with your company and not disclose it within SIGInnova.
  • What is the process for SIGInnova to consider products?
    SIGInnova staff will actively look for interesting products offered by mid-stage providers as well as performing an early screening of providers that initiate contact. In addition, members of SIGInnova’s Leadership Council are encouraged to suggest products for consideration. A vetting process and evaluation methodology will be defined and applied, resulting in those that appear to be the most meritorious being brought to the SIGInnova Leadership Council for deeper review.
  • How will SIGInnova determine fit?
    During the first few months, SIGInnova staff working with Leadership Council members will prepare the initial screening criteria to determine fit. It is possible that a product not deemed to be a good fit for SIG members may still be a good fit in other markets.
  • If a member of the Leadership Council is already working with a provider when that provider is introduced into SIGInnova, what are the obligations of the Council member?
    Leadership Council members who find themselves in this situation must inform SIGInnova management and other Council members as early as possible. It is important to mutually discuss how your company’s involvement with the provider might benefit SIGInnova’s evaluation or whether you should choose to pursue an independent path with that provider.
  • What if a Leadership Council member wants to work with a provider independently of SIGInnova after it was introduced to them by SIGInnova?
    The value of SIGInnova for all constituents will be significantly greater if we work together, and this is encouraged. Independent work with an SIGInnova provider may be counterproductive for SIGInnova members as a whole. However, there will be no legal restraint from acting independently. In this case, the SIGInnova Leadership Council member is asked to notify SIGInnova’s management as soon as possible.

Thank you for your interest in SIGInnova. Please complete this form so that we can begin to know how to best serve your company.