2022 Sourcing & Cost Management Pioneering Digital Procurement Solutions

2022 ProcureTech100 - The Sourcing & Cost Management pioneers

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The ProcureTech100 is the definitive 100 pioneering digital procurement solutions. 

Responsible. Beyond sourcing. Data services. Automation. 

Here, we reveal a little bit about the pioneers in the Sourcing & Cost Management category. 

“The pace of digital innovation and ability for digital procurement solutions to scale over the last year has been impressive. Exceptional CEOs and Founding teams are inspiring a generational change to the digital procurement ecosystem solving global challenges.” 
Lance Younger, Founder & CEO, ProcureTech 

The 2022 ProcureTech100 were selected from over 4,000+ digital solutions from across the planet, using enriched data and analysis, combined with the collective experience of more than 60 procurement leaders, technology experts and B2B investors. Pioneers have been identified across 14 different categories. 

The Sourcing & Cost Management category is defined by super intelligent, automated and augmented sourcing with deep capabilities.  

The very best sourcing and cost management solutions act as a cornerstone for delivering sustainable procurement objectives accessing new areas for sourcing value delivery e.g. tail management. 

Cost analysis is enriched to create dynamic should cost models and clean sheets. Negotiations are automated at scale. Category and industry specific solutions have evolved frequently augmenting existing S2P solutions whilst providing differentiated capabilities.  

The category solutions are sometimes surrounded with microservices and delivered as part of, or as an enabler to, the App economy. 

The 2022 ProcureTech100 Sourcing & Cost Management pioneering digital procurement solutions are: 
Founded: 2019       HQ: Switzerland

Archlet is an intuitive sourcing analytics platform – simplifying how Procurement teams collect, store and analyze their data. Strategic sourcing managers harness Archlet’s automated bid analytics to reveal immediate insights that maximize negotiation power and create headspace for more strategic work. Global enterprises rely on Archlet to erase inefficiencies from their sourcing process and make better decisions faster.

Founded: 2017       HQ: USA

Fairmarkit is the intelligent sourcing platform that empowers organizations to more efficiently purchase the goods and services they need. By equipping procurement and supply-chain teams with automation and data, Fairmarkit promotes competitive bidding while reducing manual work within existing processes. Leveraged by innovative procurement departments across a number of industries, such as Univision, ServiceNow, and the MBTA, Fairmarkit aims to revolutionize the way organizations make purchases.

Founded: 2019       HQ: USA

Lightyear’s software powers the enterprise telecom lifecycle from procurement through renewal. Configure internet, voice, WAN, and data center services online, receive validated best-price quotes, and have implementations managed with renewals and ticketing handled behind a single pane of glass. Carrier neutral, transparent, and fast.

Founded: 2005       HQ: Canada

Lytica is an electronic component spend analytics and risk intelligence company that uses real customer data to help electronics companies (EMS, OEM, ODM) make their supply chain more transparent, more resilient, and more predictable. Lytica provides customers with the data, insight, and analysis they need to improve their procurement and build better, stronger, more resilient supply chains. Lytica is the world’s only provider of electronic component spend analytics and risk intelligence enabled by real customer data.

Founded: 2019       HQ: USA

Pactum is an AI-based system that helps global companies to automatically offer personalized, commercial negotiations on a massive scale. The system adds value and saves time for both the Pactum client and their negotiation partner by aligning their values to determine win-win agreements via an easy-to-use chat interface that implements best-practice negotiation strategies. The company is based in Mountain View with engineering and operations in Estonia. Pactum is backed by founders of Skype and TransferWise and built by luminaries from Skype, Starship Technologies and the Government of Estonia’s e-Residency program.

Founded: 2015       HQ: USA

Simfoni’s deep domain expertise, global footprint, and composable approach to spend management technology provide procurement teams with all the components necessary to achieve superior spend visibility and management on a global scale. Simfoni’s suite of solutions, which includes AI-enabled Spend Analytics, Advanced eSourcing with Optimization, and Indirect (Tail Spend) Management, can be accessed via a holistic ‘all-in-one spend management toolkit’ or layered with existing technology to drive maximum impact and ROI. With its selection of advanced automation modules, business users can quickly identify and maximize savings opportunities and achieve sustainability objectives.

Founded: 2018       HQ: Germany

SPARETECH develops a collaboration-platform for manufacturing companies to digitize their inventories of spare parts, calculate their real demand, compare parts from different suppliers and source the appropriate part outside or within their production network.​ SPARETECH provides a holistic spare part database with integrated machine learning to increase machine uptime and lower costs.

Founded: 2020       HQ: USA

Zluri empowers enterprise IT teams to discover, manage & optimize, secure and automate their SaaS Applications from a single dashboard. With Zluri’s SaaS Management Platform (SMP), IT, Finance and Procurement teams can easily maximize the value and productivity of their subscription-based software ecosystem. Zluri’s platform integrates seamlessly with 800+ of the most popular SaaS applications.

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