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”.