Top 10 data companies in procurement
Data-driven solutions are reshaping the way businesses operate, and in this disruptive and unpredictable environment, data is key. From spend analysis and supplier management, to contract optimisation and cost reduction, data companies are playing an indispensable role in procurement.
In this article, we will explore the top 10 data companies leading the way in revolutionising procurement practices. These companies leverage advanced technologies, such as Artificial Intelligence, Machine Learning and analytics, to provide intelligent insights to minimise risk, streamline processes and drive business value.
The following data companies are leading the way. Here are the Top 10 data companies in procurement:
Top 10 Data companies in procurement: Sievo
Sievo is the global leader in procurement analytics, offering a procurement analytics solution for data-driven enterprises. Its secure cloud-based software provides highly accurate spend visibility on data from any source. Sievo has been awarded ‘Gartner's Hype Cycle for Procurement and Sourcing Solutions 2021’ and ‘Great Place to Work Institute Best Workplaces in Finland.’
Sievo's solutions are designed to transform all your source data into savings opportunities and realised business value. Sievo is the only spend management solution that has over 700 active integrations to different sources of data. Sievo's spend analytics solutions are designed to provide transparency and visibility into areas that would be hidden otherwise. Sievo's solutions are designed to help procurement professionals streamline procurement processes, improve supplier performance, and reduce costs.
Top 10 Data companies in procurement: Ignite Procurement
Ignite Procurement provides an AI-powered procurement platform that automates the source-to-contract process and reduces costs. The platform provides modules for spend analysis, contract management, supplier management, and procurement automation. Ignite Procurement is a powerful and easy spend management tool that accelerates procurement success by bringing clarity, clean data, and sophisticated analytics to your fingertips.
Ignite Procurement's AI-powered platform is designed to automate the source-to-contract process and reduce costs. The platform provides modules for spend analysis, contract management, supplier management, and procurement automation. The platform is a powerful and easy spend management tool that accelerates procurement success by bringing clarity, clean data, and sophisticated analytics to your fingertips.
Top 10 Data companies in procurement: JAGGAER
JAGGAER is a cloud-based procurement software platform for spend management that provides a full suite of products to enable its customers to drive all spend and all processes through one solution suite. It covers all management processes for direct and indirect spend, including spend analytics, category management, supplier management and sourcing activities.
Companies can manage 100% of spend with JAGGAER One, and their procurement solutions cover a wide range of activities, including sourcing, contract and supplier management and payment negotiation. JAGGAER's embedded software intelligence expands businesses' influence over spend management, tackling today's challenges and tomorrow's aspirations.
Its solutions are used by companies across a variety of industries, including education, healthcare, government, manufacturing, and more. JAGGAER is considered one of the top data companies in procurement because of its comprehensive suite of solutions that covers the entire procurement process, from source to pay. It offers a complete procurement platform providing intelligence, flexibility, and the breadth and depth businesses need to succeed on their journey to spend management excellence. JAGGAER's all-in-one software platform innovates procurement by giving users full control and visibility. It enables businesses to transform procurement in their supply chain, providing transparency and knowledge about their daily business.
Top 10 Data companies in procurement: IBM
IBM is a global leader in the world of procurement and supply chain solutions and software. The company offers a range of solutions and offerings that can help enable procurement organisations to realise the goal of transformation.
IBM's procurement solutions provide in-depth spend analysis, efficiency, accuracy, and visibility. Their system delivers highly personalised, end-to-end services for sourcing, procurement, and accounts payable. IBM excels as a procurement data company due to its solutions designed to provide in-depth spend analysis, efficiency, accuracy and visibility.
IBM's procurement software provides a highly personalised, end-to-end service for sourcing, procurement, and accounts payable. IBM's procurement software is highly customisable and can be tailored to meet your organisation's specific needs.
Top 10 Data companies in procurement: Icertis
Icertis provides an AI-powered contract management platform that helps organisations manage contracts, reduce risk, and improve compliance.
The platform uses machine learning to analyse contract data and identify areas of risk and non-compliance. Icertis' AI-powered contract management systems leverage the power of artificial intelligence and machine learning to streamline the contract management process.
Icertis AI apps enable companies to solve previously intractable contract management challenges that are uniquely suited to an AI-powered solution. The Icertis AI applications bring static contracts to life, and with the help of artificial intelligence, turn them into living, strategic assets.
Icertis DiscoverAI app leverages Icertis' unique quality, quantity, and variety of contract data to digitise and manage legacy and third-party contracts. The Icertis Contract Intelligence platform makes it easy to analyse and review contracts at any stage of the contract lifecycle management process.
With this sophisticated ecosystem of tools, Icertis stands out as one of the leading data companies in procurement.
Top 10 Data companies in procurement: GEP Smart
GEP Smart provides a unified procurement platform that includes spend analysis, sourcing, contract management, and procure-to-pay (P2P) capabilities. The platform is a true suite, encompassing spend analysis, sourcing, contract management, P2P, and supplier management.
GEP Smart is a unified source-to-pay procurement software platform that brings end-to-end procurement functionality for direct and indirect spend management into a single, cloud-native platform. The platform features a comprehensive range of procurement tools built into one unified procurement system, eliminating the need for separate, stand-alone software, modules, or tools for managing specific functions.
The platform uses AI and machine learning to optimise procurement processes, improve supplier performance, and reduce costs. GEP Smart offers comprehensive source-to-pay functionality in one user-friendly platform, inclusive of spend analysis, sourcing, contract management, supplier management, and P2P.
The GEP Smart platform has a set of innovative data procurement features, such as sourcing and category workbenches, real-time market intelligence, and supplier-enabled innovation. GEP Smart helps streamline the end-to-end procurement process, accelerating digital transformation, elevating your procurement team’s performance to a whole new level, and enhancing its strategic reach and impact on the business.
Top 10 Data companies in procurement: SAP Ariba
Established in 1996, SAP Ariba is a global leader in the world of procurement and supply chain solutions and software. The company takes pride in providing intelligent solutions that digitally transform end-to-end procurement operations.
SAP Ariba provides e-procurement, sourcing, and supply chain cloud solutions. The company offers a leading web-based eCommerce platform enabling suppliers and retailers to collaborate with customers and streamline their business processes. With SAP Ariba, businesses can manage their procurement processes, from spend analysis to invoicing.
SAP Ariba's procurement solutions provide a user-friendly interface that helps simplify both purchasing and the catalogue creation process. The solutions also offer touchless invoice processing with built-in rules that require suppliers to resolve errors before submitting an invoice. SAP Ariba's unified requisitioning experience harmonises workflows and creates requisitions centrally using the guided buying capability.
The solutions also offer central demand aggregation that bundles requisitions to take advantage of better volume pricing and create and publish central RFQs from external PRs.
Top 10 Data companies in procurement: Coupa Software
Coupa Software is a cloud-based Business Spend Management platform that allows organisations to manage business spend across procurement, supply chain, and finance. Coupa has been named a leader in the 2022 Gartner P2P Magic Quadrant seven times. Coupa's Business Spend Management approach is breaking down silos within organisations, and the company is consistently recognised as a leader by Gartner and Forrester.
The Coupa procurement software effectively assists employees throughout the purchasing process by highlighting preferred products and services, ensuring they are aware of discounted pricing and other advantageous terms. This software optimises and simplifies the purchasing requisition and purchase order processes, resulting in reduced cycle time and costs.
Coupa Procure purchasing software lets users easily track and manage purchase orders in real-time while providing flexible configuration rules to achieve compliance. The platform also offers inventory management, providing organisations real-time visibility into inventory availability and reducing redundant and wasteful purchases.
Top 10 Data companies in procurement: Basware
Basware is one of the top data companies in procurement because of its advanced electronic procurement (e-procurement) solution that automates the entire procurement process, from catalog and requisition management to invoice processing and payment. It helps organisations automate their procurement processes, manage suppliers, and drive cost savings.
The company provides features like advanced spend analysis, procurement analytics, contract management, and sourcing. Its procure-to-pay automation approach gives businesses the platform to enable visibility and control of all spend categories and inform their digital procurement strategy.
Basware's P2P solution consolidates and automates finance and procurement functions across large IT environments, providing 100 percent visibility to businesses. Basware has a history of innovation in developing award-winning enterprise software for financial processes, purchase to pay, and financial management. It drives innovation and engagement for over 2,500 global customers with embedded analytics from Tableau. Basware's P2P suite has monthly releases that help evolve the platform and ensure their customers always have a best-in-class solution.
Top 10 Data companies in procurement: Oracle Fusion Cloud
As a procurement data company, Oracle offers a suite of procurement software solutions that enable organisations to streamline their procurement processes, improve supplier relationships, and reduce costs. The suite includes applications for procurement contracts, sourcing, and purchasing, as well as a cloud-based procurement solution.
Oracle Procurement Contracts is an enterprise application that creates and enforces better purchasing contracts, enabling organisations to integrate and streamline their procurement processes. Oracle Sourcing drives more and better sourcing through online collaboration and negotiation, increasing the sourcing bandwidth of procurement professionals and helping organisations exploit many more savings opportunities.
Oracle Procurement Cloud delivers comprehensive direct and indirect sourcing, purchasing, and supplier management across any modern supply chain management. The solution enables organisations to simplify and modernise their procurement infrastructure, streamline their source-to-pay process through automation and social collaboration, control costs, and achieve higher margins.
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