Strategic Sourcing Application Suites Reviews and Ratings

What are Strategic Sourcing Application Suites?

Strategic sourcing application suites are a set of related, integrated solutions that support upstream procurement activities; in other words, the strategic work the procurement team does for planning, assessment and performance management. Strategic sourcing application suites are used primarily by companies with $800 million or more in annual revenue that, typically, have the necessary critical mass of spend. The strategic sourcing application suite delivers four primary capabilities. Most vendors offer these capabilities as separately licensable modules: Spend analysis is a software- and service-based solution for cleansing, enhancing, classifying and analyzing spend data. It features rule-based data cleansing, automated category-level classification, analytics and decision support. Automated spend analysis is used in procurement and sourcing to quantify spend by supplier, category and part, and to identify opportunities for cost reduction and supply base resizing.

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SAP is a company that aims to improve operational efficiency worldwide. The primary focus is on helping customers optimize their business operations. SAP develops innovative solutions to support this objective. The company plays a crucial role in transforming industries by fostering opportunity and equality on a global scale. By collaborating with customers and partners, SAP is capable of making substantial changes across various industries, supporting the growth and development of economies and societies.

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Workday is a prominent provider of cloud applications intended for finance and human resource management. Their primary objective is to assist businesses in adapting to changes with the help of their various applications. They provide applications for financial management, human resources, planning, spend management, and analytics, all of which are built upon the foundations of artificial intelligence and machine learning. This technology is intended to support organizations globally in navigating the evolving nature of work. Workday's services are utilized by numerous organizations worldwide, across a variety of industries.

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JAGGAER fundamentally operates as a pioneer within the Autonomous Commerce sector. The enterprise has engineered a self-operating B2B commercial experience inclusive of buyers, suppliers, and partners utilizing Internet of Things (IoT) technology. It enables a substantial flow of goods annually, across its Enterprise Commerce Network. AI and machine learning technology underpin JAGGAER's innovative procurement solutions, aligning the requirements of buyers with the competencies of suppliers via smart-match recommendations. These solutions are designed to autonomously conduct recurrent, backstage tasks required for facilitating commerce on the enterprise level. With a workforce exceeding 1,200, the focus of JAGGAER's operations revolves around ensuring customer success.

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Coupa Software is a cloud-based platform focusing on business spend management (BSM). The primary objective of Coupa Software is to provide companies with the necessary tools and features needed to gain visibility and control over their business expenditures, enabling them to make more effective and secure spending decisions. The company has a global outreach and serves an extensive range of businesses worldwide.

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GEP is a global enterprise specializing in transformative supply chain solutions. It offers agile and resilient operations to enhance efficiency and productivity, while boosting profitability and shareholder value. GEP is comprised of three entities: GEP SOFTWARE, GEP STRATEGY, and GEP MANAGED SERVICES, all of which work collectively to address supply chain challenges. With the aid of its innovative products and dedicated team, GEP continues to cater to enterprises globally, assisting in the attainment of strategic, financial, and operational goals. As an AI-first, cloud-native company, GEP uses digital business platforms to support and streamline processes. It is a global enterprise, headquartered in Clark, New Jersey, with operational centers across Europe, Asia, Africa, and the Americas.

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JAGGAER fundamentally operates as a pioneer within the Autonomous Commerce sector. The enterprise has engineered a self-operating B2B commercial experience inclusive of buyers, suppliers, and partners utilizing Internet of Things (IoT) technology. It enables a substantial flow of goods annually, across its Enterprise Commerce Network. AI and machine learning technology underpin JAGGAER's innovative procurement solutions, aligning the requirements of buyers with the competencies of suppliers via smart-match recommendations. These solutions are designed to autonomously conduct recurrent, backstage tasks required for facilitating commerce on the enterprise level. With a workforce exceeding 1,200, the focus of JAGGAER's operations revolves around ensuring customer success.

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Zycus is a company that specializes in cognitive procurement software. For the past two decades, it has been providing solutions to large international businesses. Through the Zycus Source to Pay integrated solution, tactical tasks are handled, allowing procurement and accounts payable officers to direct their attention to more strategic initiatives. The company's approach incorporates Merlin AI Suite, an innovative tool that facilitates data-driven decisions and offers a user-friendly conversational AI experience. The software developed by Zycus enables enterprises to realize significant savings, minimize risks and enhance compliance. The user interface is designed to be seamless and intuitive, encouraging wide adoption and delivering value across an organization.

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Ivalua is a provider of cloud-based Source-to-Pay solutions. Our complete, unified platform empowers businesses to effectively manage all categories of spend and all suppliers, increasing profitability, improving ESG performance, lowering risk, and improving employee productivity. We are trusted by over 400 organizations across the world, many of whom are admired brands.

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JAGGAER fundamentally operates as a pioneer within the Autonomous Commerce sector. The enterprise has engineered a self-operating B2B commercial experience inclusive of buyers, suppliers, and partners utilizing Internet of Things (IoT) technology. It enables a substantial flow of goods annually, across its Enterprise Commerce Network. AI and machine learning technology underpin JAGGAER's innovative procurement solutions, aligning the requirements of buyers with the competencies of suppliers via smart-match recommendations. These solutions are designed to autonomously conduct recurrent, backstage tasks required for facilitating commerce on the enterprise level. With a workforce exceeding 1,200, the focus of JAGGAER's operations revolves around ensuring customer success.

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SAP is a company that aims to improve operational efficiency worldwide. The primary focus is on helping customers optimize their business operations. SAP develops innovative solutions to support this objective. The company plays a crucial role in transforming industries by fostering opportunity and equality on a global scale. By collaborating with customers and partners, SAP is capable of making substantial changes across various industries, supporting the growth and development of economies and societies.

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Synertrade provides a comprehensive cloud-based platform called Synertrade Accelerate. This digital procurement solution enables efficient management of Source-to-Contract, Procure-to-Pay, and Supplier Relationship Management processes in a fully digitised and integrated manner, facilitating effective collaboration across various business functions. The platform is extensively utilized, with a broad user base and numerous registered suppliers. Synertrade, a part of the Econocom Group, operates globally with multiple offices, a sizeable workforce, and multilingual support.

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IBM is a well-established entity focused on technology and development. The primary mission revolves around fostering technological growth and enhancing infrastructure, achieved through focused developments and consulting services. By encouraging inventiveness and innovation, it is geared towards facilitating the transition of theoretical ideas into practical realities, thus improving global functionalities. IBM brings about transformation by creating advanced solutions that reshape and redefine the world.

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Legal Suite is a global provider of Enterprise Legal Technology, offering a software solution catered to business law professions. The software includes a suite of modules under the brand name GaLexy, designed to address the daily needs of legal departments. These areas include Contracts, Matter Management, Litigation, Intellectual Property, E-Billing, and Power of Attorney among others. In addition, Legal Suite brings expertise in Enterprise Legal Management (ELM), Contract Lifecycle Management (CLM) and Governance, Risk and Compliance (GRC), applicable to various industries. The company is a division of the Septeo Group that supports varied legal professions globally. With offices in North America, United Arab Emirates, and Europe, Legal Suite has a rich experiential background extending over 18 years, with a large number of projects, customers, and users worldwide.

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SAP is a company that aims to improve operational efficiency worldwide. The primary focus is on helping customers optimize their business operations. SAP develops innovative solutions to support this objective. The company plays a crucial role in transforming industries by fostering opportunity and equality on a global scale. By collaborating with customers and partners, SAP is capable of making substantial changes across various industries, supporting the growth and development of economies and societies.

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Corcentric specializes in providing procurement and finance solutions on a global scale. It offers a blend of technology and payment solutions, supplemented by comprehensive advisory and managed services. The focus is to alleviate the challenges of procurement and finance business leaders by forming strategic partnerships to pinpoint issues and create specifically tailored solutions. The company has amassed over two decades of experience in assisting businesses with their unique difficulties and providing results.

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VendorPanel provides a platform for handling strategic and operational procurement processes. Rooted in North America and the Asia Pacific, it offers upgraded access to various sourcing alternatives and promotes optimal methods for managing decentralised expenditure. This aids users in enhancing value, handling risk, and supporting business targets. The platform is adapted for both web and mobile use and is employed by numerous entities to control their procurement expenditure annually, across diverse categories. It offers a key platform, CompareCoOps in the U.S, that digitally transforms conventional yet inefficient processes for public agencies, thereby facilitating effortless and clear engagement with suppliers.

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Sievo is focused on providing data-driven enterprises with procurement analytics solutions. The main business problem the company addresses is the challenge of transforming diverse and complex procurement data into actionable and profitable insights. Sievo's software-as-a-service (SaaS) offerings include Spend Analysis, Savings Lifecycle, Contract Analytics, Materials Forecasting, and CO2 Analytics. These solutions utilise Sievo's unique data extraction, classification and enrichment software to ensure total spend visibility, enabling procurement teams to manage savings effectively, oversee contract lifecycles and forecast profitability efficiently and proactively. Sievo's focus and solutions are internationally recognised, serving a wide range of businesses across the globe.

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JAGGAER fundamentally operates as a pioneer within the Autonomous Commerce sector. The enterprise has engineered a self-operating B2B commercial experience inclusive of buyers, suppliers, and partners utilizing Internet of Things (IoT) technology. It enables a substantial flow of goods annually, across its Enterprise Commerce Network. AI and machine learning technology underpin JAGGAER's innovative procurement solutions, aligning the requirements of buyers with the competencies of suppliers via smart-match recommendations. These solutions are designed to autonomously conduct recurrent, backstage tasks required for facilitating commerce on the enterprise level. With a workforce exceeding 1,200, the focus of JAGGAER's operations revolves around ensuring customer success.

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SpendHQ is a provider of advanced Spend Intelligence and Procurement Performance Management solutions. These solutions aim to assist procurement processes by offering a centralised system for the classification of all spend data, as well as managing the entire sourcing project pipeline and results. Consequently, this facilitates progress to be made according to set plans. It assists procurement leaders in managing the strategic impact and effectiveness of their practices. It encourages collaboration opportunities and enhances transparency among financial personnel and top management. It aids organisations with their strategic priorities and sets goals to demonstrate the impact and value of procurement processes in a data-driven, transparent manner. They offer products that are known for their efficient return on investment. These products are designed to enhance planning, oversight of outcomes, and reporting mechanisms.

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Anvil Analytical is a software-as-a-service provider, primarily focusing on strategic sourcing and supplier management issues. Its applications are utilized in all sectors and across diverse geographical locations, with the primary objective of enhancing third-party spending management and calculating and reducing their carbon footprint, thus appealing to businesses of all sizes. Anvil Analytical was established in 2022 as the technology division of 4C Associates, a procurement consulting firm. Originally, the solutions were used internally by consultants as part of advanced diagnostics associated with client projects, but soon evolved into complete SaaS solutions. The platform's distinguishing characteristics include its competitive pricing, extensive features, quick implementation times, quality service and support, as well as superior analytics and data depth.

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