Top 20 Procurement Tech Companies - 2018

Procurement defines the art of obtaining products and services in any company and has steadily become a strategic contributor to enterprise growth and performance. Procurement teams can fast-track capital projects, obtain greater savings, and contribute towards successful outcomes for the entire value chain.

With technology changing at a rapid pace, procurement solutions need to keep updating continuously by implementing industry-best practices. By leveraging technologies such as AI, Big Data, and Predictive analytics, companies are able to predict and plan their procurement needs to accelerate their success. Diverse market verticals and sectors are employing cognitive procurement that leverages blockchain, machine-learning, cloud computing, and the internet of things to overhaul every aspect of supply-side economics. Cybersecurity is another factor being emphasized in the procurement offerings, as the exposure to security threats continue to escalate due to the rapid proliferation of data and connected endpoints. Nearshoring, a fairly new trend in the procurement landscape is predicted to help reduce shipping costs, trade barriers, simplify auditing and compliance and mitigate risk across various market vertical.

It is critical for enterprises to understand the role of procurement teams in executing capital projects. 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 - 2018”.

Top Procurement Solution Companies

Provider of solutions for sourcing and managing the complex world of contingent labor

Provides concierge-style consultancy and sourcing services related to connectivity, cloud, collaboration, and mobile across the enterprise landscape

Coupa Software provides cloud-based applications for Spend management

Provides a cost-effective and intuitive procurement platform that is the first all-in-one marketplace and spend management software designed specifically for the dental industry

Helps companies to transform their commercial foundation ensuring compliance, improving governance, mitigating risk and enhancing user productivity

Noosh provides a marketing services collaboration platform that makes delivering marketing materials fast, easy, and more professional

Helps companies get the best deal on every IT purchase and navigate software license audits

Independent procurement consulting firm that aligns deep functional expertise to client needs, when and where they need them most. Experts at analyzing spend and maximizing procurement’s contribution to meet organizational goals and improve business performance

Provides cloud-based supply chain solutions that transforms the way labor and materials are procured

Procurement and Supply chain Management Company to organizations in the process-industry sector

Delivers best-of-breed PunchOut solutions that control costs, save time, and minimize frustration

Provider of solutions that help organizations to expedite their sourcing and procurement process

Global provider of intelligent procurement and sourcing software powered by AI to simplify the source-to-settle process

Provider of complete source-to-pay solutions for procurement requirements of organizations for both strategic and operational parts of procurement

Basware

Basware

Provides purchase to pay solutions and financing services with simple e-invoicing

Bristlecone

Bristlecone

Enables robust, reliable, and transparent supply chains

BROWZ

BROWZ

Supply chain management expert that identifies risks in the supply chain

Ivalua

Ivalua

Provides digital procurement solutions with DIY configurations and its specialised Source-to-Pay suite

SAP Ariba

SAP Ariba

Helps companies reduce risk and control cost with e-procurement software and procure-to-order solutions

Source One

Source One

Provides procurement and supply chain solutions to help organizations with sourcing services and sophisticated procurement processes