2024 ProcureTech100 - Supplier Management
📈 The trends for 2024’s Supplier Management leaders
With advancements in supplier collaboration and innovation tools, these solutions are enabling joint innovation initiatives between procurement teams and suppliers, driving value creation for both parties.
In parallel, this year’s solutions are also adapting to provide more holistic supplier management capabilities across the board.
This year, the core areas of focus for Supplier Management solutions are:
● The emergence of digital supplier relationship platforms - In order to centralise supplier interactions, and improve communication, performance tracking and collaboration.
● Automated platforms - These are increasingly being used to centralise supplier data, streamline the supplier onboarding process and ensure faster compliance and integration.
● AI-driven capabilities - For example, including automated supplier selection (based on performance, risk, and strategic alignment with procurement goals), predictive supplier analytics and automated supplier risk monitoring.
The result is a holistic view of suppliers, with AI-driven dashboards offering 360-degree insights into supplier performance, risk, and strategic fit, through real-time data.
🚀 The 2024 ProcureTech100 pioneering solutions for Supplier Management
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.
This year’s Supplier Management leaders are:
● apexanalytix - apexanalytix is a pioneer in the supply chain software, data, and analytics markets, with data-powered software and services for supplier management, fraud prevention, and overpayment recovery. Today, apex protects more than $9tn of annual spend across the world’s most complex supply chains.
● GoodShip - GoodShip is an all-in-one platform for freight orchestration and procurement. Its innovative software helps shippers optimise their freight spend and service outcomes, while enhancing collaboration among internal teams and carrier partners. The platform also brings together disparate data sources to offer shippers a comprehensive view of their transportation network.
● HICX - HICX’s Supplier Experience Platform helps large enterprises remove the friction from their supplier relationships, with its valuable combination of master data expertise, extensive supplier domain knowledge and no-code process orchestration technology.
● Kodiak Hub - Kodiak Hub is an end-to-end supplier relationship management platform that leverages big data, smart automation and AI to drive precision in procurement and power in partnerships.
● o9 Solutions - o9 Solutions enables users to conduct more intelligent planning and business decision-making, creating processes that drive more transparency, reduce organisational silos, empower people and increase productivity.
● Tacto - With its cloud-based software, Tacto offers a central hub, connecting industrial organisations with their supplier base. This streamlines procurement processes, ensures compliant supply chains and enables efficient material sourcing at optimal conditions.
As part of the ProcureTech100, these solutions are highlighted as the most sophisticated, advanced and intuitive available on the market.
Ultimately, the focus across Supplier Management is on equipping organisations not only with the tools to select the right suppliers in the present, but also to predict supplier performance, potential risks, and opportunities for collaboration into the future.
🔗 To explore these solutions and the rest of this year's ProcureTech100 cohort, you can read the full 2024 Yearbook here: https://cpostrategy.media/resource_hub/procuretech100-2024/
