2023 ProcureTech100 - Supplier Management
The prevalent focus of the Supplier Management category is defined by the customers of each company - whether they be commercial, collaboration or contractual.
Two of the key trends in this sphere have been an increase in the use of portals for management, and an accelerated embedding of Al and automation capabilities, to unlock greater process efficiency and improved supplier experience.
Supplier management solutions are increasingly defining and delivering new value for more mature Procurement teams. Most commonly, this comes in the form of an integrated information and intelligence hub.
At a macro-level, the Supply Chain Act is placing greater pressure on organisations, in terms of their supplier due diligence and reporting.
For the solution providers, these solutions are adapting to provide more holistic supplier management capabilities. This comes as both suppliers and customers are seeking to reduce administrative burden, through leveraging standardised supplier due diligence, vetted by peers on the network.
Meanwhile, the emergence of low code platforms brings another lens to the ‘Build VS Buy’ decision. These user-friendly solutions enable organisations to meet and adapt to unique requirements, and to develop through configuration instead of resorting to net-new.
Alongside this, there is also an ever-growing focus on sustainability, which aligns with the broader interest in improving supply chain traceability.
However, considerably more work is required across supplier management and sustainability, with a pressing need to translate words into priorities and actions. This will be fostered by an increase in collaboration and engagement, over the next two years. In fact, of the highest performing Procurement teams (identified in our research with Ivalua), 100% predict that they will have significantly more engagement with their Sustainability and ESG stakeholders.
“The greatest risk to the enterprise comes from our supply base. The greatest opportunity to meet ESG compliance comes from our supply base. The best way to protect margin is through smart supplier management. We are not going to meet these challenges and opportunities through policies and processes.” Dr Elouise Epstein Partner, Kearney
Founded: 2018
Company HQ: USA
A premier supplier life cycle and risk management solution
Graphite Connect makes it simple and secure for buyers and sellers to connect and conduct business - saving suppliers from endless and redundant onboarding surveys, and buyers from managing inaccurate vendor master data.
Founded: 2004
Company HQ: UK
The platform for supplier experience management
HICX helps Global 5000 companies to take control of their supplier data and deliver a great supplier experience. The HICX Supplier Experience Platform enables businesses with thousands of suppliers to efficiently onboard and manage the end-to-end lifecycle of all suppliers, to achieve a single version of truth for all supplier data, and to remove the friction from supplier relationships.
Some of the world’s largest companies trust HICX for the management of their supplier data, these include Unilever, Mars, Mondelez, Lenovo, Baker Hughes and BAE Systems.
Founded: 2015
Company HQ: Sweden
Smarter supplier relationship management
Kodiak Hub is a cloud-based supplier relationship management platform that helps global Procurement and Sourcing teams to buy smarter, and power sustainable supplier relationships.
Kodiak Hub offers a modular suite of supplier relationship management solutions, which allow teams to capture supplier data and information, spot supply chain risks, manage contracts and other documents, assess and audit supply chain compliance, evaluate and improve supplier performance, and drive buyer-supplier innovation.
Founded: 2015
Company HQ: Germany
Smarter supplier discovery
Scoutbee is an AI-driven supplier insights and discovery platform that helps companies find and connect with suppliers from all over the world. With scouting insights from the best up-to-date, verified market data, buyers can make smarter decisions, faster.
Powered by AI, Scoutbee equips teams to run end-to-end sourcing projects in an accelerated timeframe: from discovery and identification, through RFI assessment and cross-team collaboration, to RFP - all in one place.
Scoutbee has unrivalled capabilities in delivering the valuable scouting insights needed to drive decisions for supplier discovery and category management. Scoutbee can identify up to 180 times more suppliers, 75% faster. Scoutbee tracks millions of data points, to bring together insights and a simple, digital process for strategic sourcing. Superior supply market visibility allows organisations to make strategic gains in areas such as resilience, sustainability, cost, innovation and quality.
Founded: 2013
Company HQ: USA
A direct materials PO collaboration platform for manufacturers
SourceDay is a direct materials purchase order (PO) collaboration platform for manufacturers, which automates 100% of PO delivery between buyers and suppliers. SourceDay automates PO lifecycle workflows - including changes to price, quantity, and delivery date in direct material POs - and provides complete visibility into users' direct materials. It allows direct materials Supply Chain teams to collaborate with their suppliers about PO changes in real-time.
SourceDay provides supply chain visibility and data accuracy, so that teams know exactly when to expect orders and plan accordingly. SourceDay coordinates millions of PO changes, enabling the on-time shipment of billions of parts each year.
Founded: 2000
Company HQ: Germany
The shared supply chain collaboration platform
SupplyOn is the shared Supply Chain collaboration platform that connects users with their global business partners and ensures the long-term success of their supply chain. This dynamic company network - connecting more than 140,000 businesses worldwide - enables companies to quickly adapt to market changes and supply chain dynamics.
While digital transformation has long been state-of-the-art in production, it is still a challenge when working with suppliers. SupplyOn makes this complexity manageable. With just one link to SupplyOn, users have access to thousands of companies. SupplyOn is the answer to the challenges of the digital transformation.
Learn more about the 2023 ProcureTech100.
