ProcureTech100 is the definitive, global 100 pioneering digital procurement solutions.
Here we reveal a little bit about the pioneers in the Analytics and Intelligence category.
“The ProcureTech100 are pioneers. Pioneers that are inspiring and driving digital transformation. Pioneers that are customer centric, innovative, high growth and making a social impact. Pioneers that are agile and scalable, with a team dedicated to creating an impact that matters.”
ProcureTech
The 2021 ProcureTech100 were selected from over 4,000 digital solutions from across the planet, using enriched data and analysis, combined with the collective experience of over 60 procurement leaders, technology experts and B2B investors. Pioneers were identified across 14 different categories.
The Analytics and Intelligence category is defined by a strong growth in the utilisation of automation to enhance the insights that the analytics can provide. There has also been a push by the most pioneering companies to improve the user experience through improved user interfaces making complex usage a thing of the past. Increasing integration of digital solutions across all of procurement has enabled the creation of a single data layer for procurement including cross functional inputs, sometimes centralised by a single analytics platform. Organisationally, procurement analytics and intelligence has progressed to being beyond a competency to being a core business function especially for larger organisations.
The 2021 ProcureTech100 Analytics & Intelligence pioneering digital procurement solutions are:
Ultimate Supplier Management
Founded: 1988 HQ: USA CEO: Steve Yurko
apexanalytix revolutionized recovery audit with advanced analytics and the introduction of firststrike overpayment and fraud prevention software. Today, apex also leads the world in supplier management innovation with apexportal and smartvm, now the most widely used supplier onboarding and compliant master data management solution in global procure to pay processes. With over 250 clients in the Fortune 500 and Global 2000, apex is dedicated to providing companies and their suppliers with the ultimate supplier management experience. To support our commitment to innovation, we have built a highly experienced team of associates in key markets around the globe. Together we value performance, honor a diversity of perspectives, experiences and cultures, nurture candor, give back to the communities where we live and work, and have fun working together.
Advantage Procurement
Founded: 2005 HQ: USA CEO: Vel Dhinagaravel
Beroe is the world’s leading provider of procurement intelligence and supplier compliance solutions. We provide critical market information and analysis that enables companies to make smart sourcing decisions—leading to lower costs, greater profits, and reduced risk. Beroe has been providing these services for more than 13 years and currently works with more than 10,000 companies worldwide, including 400 of the Fortune 500 companies.
Automating category strategy creation for faster decision-making and higher impact
Founded: 2013 HQ: Austria CEO: Drasko Jelavic
Cirtuo’s mission is to empower your strategic breakthrough in procurement and make it easy, interactive, and highly effective. Trusted by industry leaders in telecom, manufacturing, brewing, pharmaceuticals, and others, Cirtuo is transforming the procurement function into a strategic champion that captures opportunities and faces risks head on. A strategic champion that is conscious of all the opportunity at its fingertips and risks that need to be managed. An integrated strategic software, Cirtuo helps you translate strategies into tangible initiatives that deliver accelerated savings, reduce risks and create value. Not only does it streamline collaboration across the procurement and stakeholders, it reduces errors, delivers measurable improvement, is backed up by reliable benchmarks, and enhanced with the AI platform Guided Strategy Creation™. The Guided Strategy Creation ™ process is suited for all procurement professionals, from beginners to experts.
With Cirtuo’s AI-enabled Guided Strategy Creation™ software, it is now even easier to develop, validate and implement Category & Supplier strategies. As top skills and a proper tool are required to develop a strategy, most procurement organizations fail to identify the right category strategy and mobilize their stakeholders. The final output using Cirtuo is a recommended category strategy written as a short agenda ensuring successful implementation every time. Cirtuo is already used within several Fortune 500 companies and by procurement managers in 40+ countries.
Make data-informed business decisions with Craft, an enterprise intelligence company.
Founded: 2014 HQ: USA CEO: Ilya Levtov
Craft is an enterprise intelligence company helping organizations make data-informed business decisions. Our platform provides comprehensive, validated and always up-to-date commercial data, analytics, and actionable insights.
AI based solutions supporting Procurement and Supply Chain digital transformation.
Founded: 2000 HQ: Italy CEO: Paolo Gamberoni
Creactives provides solutions for Procurement and Supply Chain digitization.
MMD Cleansing and Governance, Spending Categorization, Real-time Data Assistants, powered by our AI engine, provide a unique combination of Deep Learning, Knowledge Engineering and Crowd Learning that makes possible easy and full AI customization on customer’s data.
Our distinctive factors are:
Multi-language: we understand line items descriptions of Purchase Orders (PO) and Material Master Data (MMD) in more than 25 languages natively,
Flexible Taxonomy: we categorize in different taxonomies at the same time without mapping tables,
Fast and Easy AI set up, compressing the contribution of customer’s experts to few days to achieve 95% accuracy.
AI based solutions supporting Procurement and Supply Chain digital transformation.
Founded: 2000 HQ: Italy CEO: Nicolas Mahler
Datapred is a machine learning solution for industrial buyers of raw materials. Datapred processes hundreds of data steams to provide 360 visibility to procurement professionals: on market dynamics and price trends, on their own buying performance, and on the interplay between procurement and operations. Datapred also lets raw material buyers integrate non-financial goals into their buying strategy: emission reduction, industrial yield, product quality… Industrial buyers using Datapred experience 3-5% savings on their energy and raw material costs, year over year.
Procurement Analytics Powered by AI
Founded: 2003 HQ: Finland CEO: Sammeli Sammalkorpi
Sievo gives procurement, finance and leadership teams a single source of truth and radical transparency to all sourcing decisions. Our procurement analytics solution helps you choose the right suppliers, deliver savings and manage compliance with confidence. Not only that, we enable a sustainable, diverse and resilient supply base. We master the art of extracting, classifying and enriching data across all ERPs, procurement systems and external data sources, saving your valuable time. Simply put, we’re pretty damn good at turning even the crappiest data into actionable insights! We’ve pushed the boundaries of spend analytics for two decades – and we’re just getting started. We bridge the data-to-action gap and power agile procurement by combining AI with procurement expertise. Procurement organizations need an analytics partner they can trust. We’re large enough to deliver, small enough to care.
Simfoni delivers digital transformation through next generation spend analytics & buying automation.
Founded: 2015 HQ: USA CEO: Jason Stern & David Bush
Simfoni delivers next-generation digital transformation through spend analytics & buying automation. Simfoni‘s mission is to combine Technology, Content and Enablement Services that work seamlessly to drive operational improvement and unparalleled savings. Solutions: Analytics: Simfoni offers a new breed of Machine Learning enabled Spend Analytics, which is built for procurement professionals by procurement professionals. our proprietary analytics platform helps organizations gain insights from their data, unearth savings using machine learning & interactive visualizations.
Request a demo here. Tail Spend Management: Spend Automation is an on-demand solution features a powerful combination of technology, expertise & sourcing network. Using predictive buying algorithms, Spend Automation has delivered up to 23% in savings and over 30% in supplier reduction to its clients. Our guided buying module which includes marketplace consists of pre-negotiated deals on a vast range of categories and listed suppliers. We help our clients go from a long, non-addressed tail spend to a compressed, well negotiated and managed spend; reducing suppliers and transactions, improving savings and eliminating risks.
AI-driven Analytics for Modern Procurement Teams
Founded: 2016 HQ: USA CEO: Nikesh Parekh
Suplari is the Spend Analytics and Supplier Management system for modern procurement. that enables finance, procurement and IT teams to proactively optimize financial performance. Suplari enables teams to achieve their financial and strategic goals, by improving productivity, receiving proactive recommendations on optimization opportunities, and focusing on strategic initiatives that are most critical to business partners and overall company success.
Suplari leverages AI to connect, monitor and analyze complex data sets, creating meaningful insights that proactively detect opportunities to optimize IT, financial health and business-critical KPIs. Customers gain access to a rapidly growing library of insight applications developed by Suplari‘s data scientists, customers, and network partners.
AI based solutions supporting Procurement and Supply Chain digital transformation.
Founded: 2003 HQ: UK CEO: Gautam Singh
Many companies are still yet to capitalise on the intelligence available to them from combining market insights, internal data and analytics. Those that are doing this can already see how internal and external data is being integrated with specialist category and functional knowledge to deliver meaningful insights to answer critical category questions. The Smart Cube is working with leading procurement functions around the world to apply data science and advanced analytics to key procurement processes. Our work is enabling an intelligence-led approach in a third of companies in the Fortune and FTSE 100.
– Category Intelligence: Achieve category management excellence with timely, contextualised intelligence covering supply market dynamics, price forecasts, spend and demand insights.
– Commodity Intelligence: Better manage your exposure to commodity risk with easy-to-consume market insights and predictive price analytics, prepared by market specialists.
– Procurement Analytics: Apply analytics at scale to uncover new opportunities for cost savings and value delivery, proactively mitigate supply risks, and drive continuous innovation.
– Supplier Engagement: Improve supplier engagement, uncover innovation and collaboration opportunities and proactively manage performance and risk, with a 360° view of your strategic relationships.
– Supplier Risk Intelligence: Proactively identify, monitor and mitigate third-party supplier risk to ensure business continuity and meet compliance and sustainability goals.
– Transportation Analytics: Move goods faster, more intelligently and at an optimised cost, by gaining visibility and insights into your transportation operations.
– Analytics Centre of Excellence: Drive innovation and accelerate insights by empowering your organisation with intuitive analytics capabilities.
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