Top 20 Procurement Tech Companies - 2017

As organizations strive to achieve sustainable performance, their expectations from procurement have evolved. Procurement is no longer a standalone function focused on driving down cost, but is anticipated to play a more strategic role in the delivery of broader results. To achieve this goal, enterprises are transforming their procurement operations through holistically evaluating current procurement talent management practices, procurement business processes, performance metrics, and tools– and developing actionable roadmaps to improvement.

The modern strategic sourcing function is further abetted by technological advancements such as big data, cloud technologies, mobility and connected devices that enable procurement professionals to embrace new strategies like shorter supplier contracts and have alternative suppliers ready. The use of digital and automated tools has enabled procurement teams to achieve greater efficiencies allowing them to shift their focus on strategic parts of business such as relationship building and long term planning. In addition, these tools help convert procurement data into intelligence that can be leveraged to make informed decisions faster.

In order to assist CIOs in identifying the right procurement solution for their business, CIOReview presents “20 Most Promising Procurement Solution Providers.” This edition features the best solution and service providers offering tools and services in the procurement landscape. A distinguished panel comprising CEOs, CIOs, VCs, analysts, and the CIOReview’s editorial board reviewed the top companies in the procurement solutions domain, and shortlisted the ones that are at the forefront of tackling industry challenges.

We present to you “20 Most Promising Procurement Solution Providers-2017”.