2024 ProcureTech100 - B2B Marketplaces

Category Highlights

The B2B Marketplaces category is one of the fastest growing, particularly in the top marketplaces, where a distinct 'thrive or survive' dynamic can be seen at play.

This category of solutions is growing at a much faster rate than traditional B2B e-commerce, and its pace is being fuelled by companies seeking more efficient ways to handle procurement.​

Core areas of focus for B2B Marketplace solutions are:

  • Higher value purchases - Although digital purchases were initially intended for small, high-volume, fast-moving items, marketplaces are increasingly being leveraged for higher value purchases.​
  • Evolving beyond traditional capabilities - Many leading platforms are evolving products beyond traditional B2C 'buying' capabilities, to include sourcing and selection of suppliers and products, handling requests, contracts, payments and logistics.​ Furthermore, vertical-specific marketplaces are on the rise, with more marketplaces becoming highly specialised, catering to industries such as manufacturing, agriculture, healthcare, and even niche markets. ​
  • Customisable platform ecosystems – Is enabling businesses to tailor the marketplace experience to specific needs, integrating 3rd party services, custom workflows, and tailored pay systems. ​
  • Real-time intelligence - Providing intelligence on products and commodities, real-time intelligence is helping buyers make smarter business decisions, including real-time inventory visibility and automated workflows.
  • Communication tools - Solutions are also offering tools that facilitate better negotiations, communication, and contract management to foster transparency and flexibility.​
  • Data analytics and AI - Leading marketplaces are leveraging these technologies to offer better marketplace insights, thereby improving decision-making for both buyers and sellers. ​

This year’s leading digital procurement solutions were selected through a rigorous process, including the comparison of over 40 data fields, and extensive discussions between expert panellists that highlighted the significance of this capability across the procurement landscape.

🔥 The 2024 B2B Marketplace leaders are:

  • Farmer's Business Network - An independent agricultural tech and commerce platform and farmer-to-farmer network. The tool helps members make confident decisions, so that they can ensure the economic viability of their farms and work towards a sustainable future.
  • Govly - Connecting original equipment manufacturers, value-added resellers, and prime contract holders in a single network, with real-time opportunities from non-public contract feeds and a suite of tools to streamline the bidding process from discovery to award.
  • Manufactured - A venture-backed product sourcing company that provides entrepreneurs with access to manufacturing companies, helping users to build and operate digital manufacturing supply chains.
  • Mirakl - A global leader in platform business innovation. Mirakl's suite of solutions provides enterprises with a transformative way to drive significant growth and efficiency in their online businesses.
  • Spoiler Alert - A B2B software company, helping CPG manufacturers and distributors manage excess and slow-moving inventory by digitising the liquidation process.
  • Stotles - Unlocking the potential of business and government collaboration, enabling its users to work together more effectively. Stotles’ all-in-one platform streamlines users’ public sector sales, creating a centralised overview of millions of UK&I public sector opportunities, tailored to each user.
  • Vetcove - The tool's eCommerce and mobile platforms give veterinary hospitals a frictionless purchasing experience, and facilitate the delivery of medications across the country. The solution is revolutionising the way veterinarians discover and buy products, and how animal health brands engage their veterinary customers.
  • Xometry - A leading AI-enabled marketplace for on-demand manufacturing, helping to transform one of the largest industries in the world. With its proprietary technology, Xometry creates a marketplace that enables designers and engineers to rapidly source high-quality on-demand manufactured parts and assemblies.

With the power of real-time insights, data analytics and AI, this year’s leading solutions are empowering users - both buyers and sellers - to make better, more informed decisions, faster.

👉 To explore these solutions and the rest of this year's ProcureTech100 cohort, read the full Yearbook here.

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