20 Most Promising Procurement Solution Providers - 2015

20 Most Promising Procurement Solution Providers - 2015

In the past, procurement referred to the comprehensive function that describes only the activities and processes to acquire goods and services. But, in today’s dynamic business world, procurement encompasses an intricate assortment of activities concerned with establishing fundamental requirements, sourcing activities such as market research and vendor evaluation, legal systems, and risk management--all designed to address an institution’s needs.

For years, Chief Procurement Officers focused on minimizing expenses for procured equipment and services. Today, they face an increasingly multifaceted landscape subjugated by legal issues, sustainability concerns, regulatory compliance, and ethical considerations that could influence not only their company’s bottom line, but also its trademark and public image. In this landscape, technology is not only acting as a catalyst for metamorphosis; it is also enabling the metamorphosis. Procurement professionals today are utilizing technology to configure the solutions to track savings, quantify, and scrutinize supply risk, support category management, and leverage ecosystem knowledge. There are hosts of solutions that proactively address the issues in the procurement landscape and assist organizations to take the pivotal stride towards innovation while mitigating risk and sustainably along with reducing expenditures.

In this edition of CIO Review, we present you the 20 Most Promising Procurement Solution Providers 2015, featuring the best solution and service providers offering tools and services on the procurement landscape. The companies featured in this issue have exhibited extensive business process knowledge combined with innovative strategies. A distinguished panel comprising of CEOs, CIOs, and analysts including the CIO Review editorial board have selected the top companies that are at the forefront of tackling challenges in the procurement landscape.

Company Name

Company Description

Ariba An SAP company with one of the world’s largest business commerce network that assists companies to extend their processes into the Cloud
Basware Provider of purchase-to-pay and e-invoicing solutions with a strong commerce network.
Bob eProcure Bob eProcure is a procurement specialist firm catering to small, medium,and large enterprises in addressing all their needs on the procurement activities and services
BravoSolution The company enables efficient procurement operations through its comprehensive and flexible solutions.
BROWZ BROWZ delivers assurance that your business is working with safe, qualified, and socially responsible contractors and suppliers
BuyerQuest Connects end-users with suppliers’ network and provides a flexible shopping experience to the customers
cloudBuy cloudBuy is an e-Procurement company specialized in spend analysis and company formation
Coupa Software Coupa Software provides cloud-based applications for Spend management
GEP Delivering practical, effective solutions that enable procurement leaders to maximize their impact on business operations, strategy and financial performance
HTG Specializes in nationwide technology deployments, system conversions/refresh projects, data center relocations, systems integration, staff augmentation and full service ITAD.
Ivalua Ivalua offers a single platform solution with highly configurable functionality across all major procurement and finance processes.
Procurify An online platform which makes the purchasing process easier, more efficient and more transparent.
Promena Offers e-Auction, e-Procurement and Strategic e-Sourcing solutions
Provade, Inc. Offering enterprise-class vendor management system (VMS) and workforce supply chain management solutions that help businesses realize significant benefits in their service procurement programs and contingent workforce management.
SciQuest A global provider of cloud-based business automation solutions for spend management
Taulia Through turning every invoice into a revenue opportunity, Taulia enables organizations to strengthen supplier relationships while adding millions to the bottom line
Tradeshift Provider of supplier collaboration platform connecting buyers, suppliers and all their processes in one global network
Virtual Procurement Services VPS uses proprietary technology and processes to evaluate, recover and/ or reduce spends on hardware, software, maintenance contracts, and even professional services
Vroozi Vroozi’s Mobile Procurement platform offers access to every business function in the procure to pay scenario on any device
Zycus Provides comprehensive Source-to-Pay suite of procurement performance solutions, catering to both strategic and operational aspects of procurement