ProcureTech and Kearney collaborate to define the 100 pioneering digital procurement companies that are transforming enterprises.
ProcureTech and Kearney, the global management consultancy, today announces an alliance to create the ProcureTech100, the definitive global list of 100 pioneering procurement technology, data and analytics solutions. ProcureTech100 will provide unique visibility and access to the dynamic, diverse, future focused solutions that are empowering transformation in procurement.
The appetite for digital procurement is growing significantly and the current pandemic has accentuated this, with the market estimated to grow by 10% CAGR from 2021 to 2026. However, many buyers are finding the current digital landscape complex or hard to keep up with, and as a result the sourcing and implementation of digital procurement solutions frequently under delivers against objectives.
“One of the biggest challenges for procurement leaders is finding digital procurement solutions that solve their individual challenges, and ultimately rapidly deliver ROI,” said ProcureTech’s CEO, Lance Younger. “Working in partnership with Kearney we will identify technology, data and analytics solutions that are innovative, intuitive and intelligent, whether from disrupters or established providers.”
Elouise Epstein, Partner at Kearney said, “Procurement has moved into the platform era where we adopt a flexible ecosystem of value creating tools. This future proof approach, well established in other domains, allows companies to quickly adopt sophisticated, targeted technologies that evolve to meet the needs of today and the challenges of tomorrow. The ProcureTech100 will help the procurement industry to identify the latest and greatest technology, data and analytics solutions that will transform our collective procurement function, create short-term benefits, and enable long-term value in the supply chain.”
ProcureTech100 will review over 4,000 solutions across all procurement related capabilities from sourcing, contract management and sustainability to risk, collaboration, supplier management and payments. We will apply statistical analysis over 50 key data points including growth, security, customer, financial, innovation, employee data and customer reviews to create a short-list of 150-170 companies. Over 60 global procurement leaders, technology experts and B2B investors will review the short-list across 14 categories. This will comprise the ProcureTech100. Unique categories will include growth, social impact, customer satisfaction, innovation, B2B marketplaces and analytics. The initial ProcureTech100 list will be announced in Autumn, then on an annual basis.
The ProcureTech Kearney collaboration will highlight the innovation and momentum in this rapidly evolving digital procurement ecosystem will accentuate procurement’s business impact. “If we can get procurement digitalisation right, the potential is huge, in the best-case scenario, procurement could become a competitive differentiator, anchoring the supply chain and driving collaboration with a wider ecosystem of partners” said Adrian Friederich, Maersk Growth.
 Global Industry Analysts, Inc
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