20 Most Promising Procurement Solution Providers - 2016

The scope of procurement technology is often limited to just finding the best pricing and terms when making any IT purchase. The recent trends such as Cloud computing, IoT, and Big Data are significantly improving supply chain traceability and aiding procurement decisions or managing buyer-supplier relationship.

Industry-best practices and adequate planning is what defines a provider of procurement solutions. The injection of the most recent procurement trends has broadened the scope and reach of this arena. Leveraging technologies such as Big Data and Predictive Analytics, companies are able to predict and plan their procurement needs. The Cloud has allowed organizations to streamline their orders and bring transparency across supply chains. Cyber security is another factor today defining the procurement offerings, as the exposure to security threats continue to escalate. Improvements in spend management and e-Procurement systems are shaping the procurement arena, allowing swift purchasing activities and a better experience. Following an adaptive sourcing approach helps ensure there is adequate room for integrating the current trends, relevant to the procurement arena.

In this edition of CIOReview we present to you the 20 Most Promising Procurement Solution Providers 2016, featuring the best solution and service providers offering tools and services in 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 CIOReview editorial board have selected the top companies that are at the forefront of tackling challenges in the procurement landscape.

We present to you CIOReview’s 20 Most Promising Procurement Solution Providers 2016.

Top Procurement Companies

Offers designed and customized SaaS solutions for a variety of supply chain problems

Delivering cost reduction and business development strategies by leveraging strategic partnerships, and deploying best-in-class technologies

Technology-enabled energy management outsource solution that delivers financial efficiencies related to energy & sustainability

Automates the entire procurement process from RFQ generation to packing list, support contract, and returns management

A cloud-based VMS providing a unified approach to managing all aspects of services procurement engagement

Offering a full cycle, multi-stakeholder, business-critical enterprise Contract Management system

Actionable insights for proactive category management—InsightBee Procurement Intelligence by Evalueserve

LinkSource Technologies is “a Telecom and Cyber Security Managed Services Company” that simplifies the complicated procurement processes for businesses of all sizes and industries globally

Getting the most value out of your procurement systems, processes, people and suppliers

NPI provides vendor-specific pricing, licensing/subscription and negotiation intel to help companies optimize the outcome of every IT sourcing transaction

Apptricity Corporation

Enables clients to expedite ordering from suppliers and manage order fulfillment

Basware [NASDAQ: BAS1V]

Provides networked PurchaseToPay, einvoicing and innovative financing services, connecting businesses around the globe

BirchStreet Systems

Offers a multi-tenant cloud solution for eProcurement, Accounts Payable Automation, Inventory Control, Recipe Management and Capital Projects for businesses around the world

BravoSolution

Offers integrated strategic procurement platform that combines with time-tested practitioner-designed techniques for sustainable cost savings

BROWZ

BROWZ delivers assurance that your business is working with safe, qualified, and socially responsible contractors and suppliers

Coupa Software

Provides spend management suite that addresses needs that range from procurement to analytics

Ivalua

Offers solution to unlock maximum procurement value through realizing savings and improving control

Procurify

Procurify offers cloud based purchasing platform that addresses the needs that range from procurement to payment

Sciquest

Provides SaaS-based, source-to-settle solution that delivers unparalleled visibility, insights and recommendations to procurement leaders and suppliers

Tradeshift

Provider of supplier collaboration platform connecting buyers, suppliers and all their processes in one global network