Five Companies Offering Advanced Solutions for Procurement and Supply Chain Operations Named IDC Innovators

International Data Corporation (IDC) published an IDC Innovators report profiling five emerging sourcing vendors that are leveraging advanced analytics and cloud technology, and are uniquely focused on a clean, transparent and intuitive user experience to augment procurement and supply chain operations. The five companies are: Cirtuo, Everstream Analytics, LogicSource, ORO Labs, and Suppeco.

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A new IDC Innovators report profiles five emerging vendors that are leveraging advanced analytics and cloud technology, and are uniquely focused on a clean, transparent and intuitive user experience to augment procurement and supply chain operations.

Procurement applications automate processes relating to purchasing supplies, material, and services. The procurement function covers sourcing, procurement, supplier relationship management, contract management, savings tracking, transaction processing, and payments support — all of which are connected to create a single view of the spending levels at an organization. As a result, purchasing activities are integrated into a supplier community that can be easily tracked, benchmarked, and analyzed by both buyers and suppliers.

Advances in digital technology, including SaaS, cloud, artificial intelligence (AI), workflow automation, and predictive procurement analytics, are remaking the supply chain and altering the utility and value add of the traditional procurement and supply chain functions. These advances in technology provide enterprises with streamlined business processes and outcomes that are speedier and more relevant, enabling businesses to be more agile in their response to customer demands.

“This is a great time to be a buyer of procurement and supply chain applications. New products are continually being introduced, and established providers are investing heavily in innovation,” said Patrick Reymann, research director, Enterprise and Procurement Applications at IDC. “The themes that we see are ease of use, an enhanced user experience, automation, and AI-driven decision-making tools. The vendors that we profile in this report are tremendous examples of what is possible with today’s SaaS solutions.”

The report, IDC Innovators: Procurement and Supply Chain (Doc #US50226423), profiles five vendors in the procurement and supply chain spaces that have developed impactful solutions that leverage leading-edge technologies to provide significant value for buyers seeking procurement and supply chain solutions. The five companies are:

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Cirtuo offers AI-driven procurement software that automates category strategy creation based on the accumulated knowledge from thousands of successfully developed category strategies for faster decision making, leading to greater business impact and value delivery beyond savings.

Everstream Analytics provides end-to-end supply chain risk analytics that combine data based on billions of supply chain interactions with powerful AI, advanced analytics, and graph technology to produce long-range strategic risk assessed at the material, supplier and facility location level.

LogicSource offers a source-to-pay technology suite that provides solutions for spend analytics, sourcing execution, contracts management, sourcing performance management, and procure-to-pay in a single platform, supported by market intelligence, price benchmarks, and expert implementation.

ORO Labs offers an end-to-end procurement automation platform with a workflow-centric approach that enables users to initiate and track requests across teams, systems, and processes while internal stakeholders can automate workflow and achieve compliance with ease.

Suppeco is a supplier relationship management platform built on these key cornerstones: configurable infrastructures for every relationship; actionable visibility into the supply chain; data-driven insights; a frictionless environment for collaboration; and automated workflows.

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