Top 10 Procurement Solution Companies - 2020

With a slew of robust digital technologies entering the market, the year 2020 is set to be a turning point for the procurement industry. Procurement officers are finally turning their backs on lost invoices and rogue receipts. Especially, with the incorporation of cloud technology, organizations are able to achieve greater levels of accessibility and control. Procurement using cloud technology is enabling CPOs to keep businesses costs under control, select the best suppliers, enforce company policy, while also appraising supplier risk.

Furthermore, it is also helping organizations reduce manual transactions throughout the procure-to-pay cycle, which is often time-consuming. Whether it is creating purchase orders, managing document revisions, or processing non-manual supplier invoices, cloud computing is making procurement a breeze. Cloud technology, combined with big data techniques, is facilitating seamless interconnectivity across the supply chain. Organizations are now able to access rich sources of data and generate insights that can drive cost reductions and drive value.

It is no secret that evolving technologies like big data are revolutionizing the procurement functions by giving procurement teams the ability to collect and analyze troves of data from both internal and external sources while enabling more accurate decision making, transparent supplier relationships, and better risk management. To effectively manage this transformation in the procurement space, organizations are incorporating the latest technologies into their every asset, operation, and interactions, thus turning their businesses into intelligent, digital-based enterprises.

To assist procurement businesses in the task of finding accomplished procurement solution providers and consulting companies, we have compiled this issue of CIOReview. It is elaborately crafted to assist you in fostering productive partnerships and improving performance. In this edition, we have listed the 10 most promising procurement solution providers and consulting companies to highlight those making significant contributions to the procurement sector. This edition also blends thorough thought leadership articles from subject matter experts, CIOs, and CXOs. We hope this issue of CIOReview helps you build the partnership you and your organization need to foster a workspace driven by robust and efficient technology.

We present to you CIOReview’s, “10 Most Promising Procurement Solution Providers – 2020.”

Top Procurement Solution Companies

Mintec is a trusted provider of independent price data and analysis to global brands since 1982

B2BE

B2BE

B2BE’s e-Commerce based products and solutions help our clients become more efficient in managing their back-office B2B environments, provide greater levels of visibility, automation and ultimately profitability. Using B2BE’s out-sourced B2B management solutions, tailored to you and to your trading partners, you no longer need to develop, manage or maintain a rapidly evolving B2B environment, B2BE will do it for you. B2BE can help you automate your Purchase-to-Pay processes, provide e-Invoicing and document management solutions, support EDI document trading or develop a full supply chain suite. If it involves your supply chain, B2BE will have a solution to help improve and automate it

Bonfire

Bonfire

Bonfire was founded in 2012 with a simple premise: sourcing professionals deserve better software. Not paper spreadsheets, cluttered bidding portals from the 1990s, not the underwhelming basics of big eProcurement suites, not the after-thought features of legacy ERP systems. They believe that sourcing teams are strategic players in their organization and deserve their own modern toolkit, based on new capabilities like deep workflow automation, rich data, easy collaboration, and opportunity for new capabilities like machine-learning / AI and predictive analytics

BuyerQuest

BuyerQuest

BuyerQuest is an enterprise Procure-to-Pay solution that delivers a world-class eCommerce experience to procurement organizations all around the world. Their software streamlines and enhances the corporate buying process allowing customers to increase user adoption, drive contract compliance, and save money. BuyerQuest combines the power of cognitive computing with the discipline of enterprise procurement, offering an agile solution that empowers companies to solve their complex procurement problems. BuyerQuest customers have the spend transparency, deep insights, and advanced intelligence capabilities they need to focus more on strategic priorities and less on tactical, lower value tasks

Celonis

Celonis

Celonis is the leader in the Execution Management System (EMS) that helps companies unlock capacity to maximize business performance. Based in New York and Munich, Celonis helps industry-leading companies around the world achieve breakthroughs in business execution. Powered by the market-leading process mining core, the Celonis Execution Management System helps companies manage every facet of business execution: analytics, strategy, management, action, and automation. Celonis has thousands of customers around the world, including ABB, AstraZeneca, Bosch, Coca Cola, Citibank, Dell, GSK, John Deere, L’Oréal, Siemens, Uber, Vodafone, and Whirlpool

Coupa Software

Coupa Software

Coupa transforms spend management by bringing everything together on a single, easy-to-use cloud platform. Unify spend processes across different categories, departments, regions, and systems and connect every buyer and supplier to a single source. Coupa was born in the cloud and every module looks and feels the same, so you only have to learn how to use it once. Drive value with power applications for everything from spend analysis to strategic sourcing, and as they continue to build onto the Coupa platform your value will grow too

JAGGAER

JAGGAER

Additionally, JAGGAER is the leading procure-to-pay provider in the higher education and government sectors. JAGGAER eProcurement and strategic sourcing customers across the globe have gained access to the best suppliers, with the best terms, on our scalable, customizable, user-friendly platform. Their SaaS-based, source-to-settle solution provides unparalleled visibility, insights and recommendations to procurement leaders and suppliers. The result is a fluid supply chain driven by powerful spend analysis, comprehensive contract management and efficient accounts payable solutions

Renhead

Renhead

Renhead empowers people with technology designed to simplify their (work) life. They do that by creating software built to eliminate paperwork and manage all aspects of the workflow process – from ONE simple-to-use platform. Founded in 2013 by two HR and Tech experts and now a certified WBENC organization, Renhead brings unique insights to create a seamless, human-centered system that enables easy navigation for users in all aspects of the workflow process

SoftCo

SoftCo

SoftCo delivers Smart Automation solutions that automate Procurement, Invoice Processing, and Payment Processes. SoftCo seamlessly integrates with existing ERP or finance systems to offer real-time analytics. The software reduces the time and costs associated with manual tasks, reduces invoice and PO creation and approval times, and enables complete visibility over the entire procure-to-pay process. SoftCo has over 1 million users North America and Europe including PWC, The Finnish Government, Lloyds Bank, Volkswagen, and Primark

Supplier Solutions

Supplier Solutions

With their unique platform software approach, and their tried and true architecture, they've got solutions up and down the price spectrum. They can get PunchOut sites up and running in days, not months or years. They've got it down to a science. Their ability to immediately scale up new suppliers, or buyers, is unrivaled in the field. That's why we've enabled so many multiple integrations for both buyers and suppliers. With 15 years of experience and thousands of PunchOuts implemented, rest assured