ProcureTech is collaborating with Craft and SecurityScorecard, the global leader in security ratings, to build ProcureTechSOURCE, an all-in-one platform with digital procurement vendor data in one place, powered by proprietary intelligence, updated in real time, and vetted by cybersecurity experts to help accelerate the adoption of digital procurement solutions.
Amid a fluctuating global supply network and a procurement landscape that requires nimble and intelligent decision-making, ProcureTech intends to identify and champion the most innovative and forward-thinking procurement technology, data and analytics solutions on the planet.
The mission is to curate and showcase the dynamic, diverse, and future-focused companies that are revolutionizing how we think about procurement. ProcureTech will do this by applying science, intelligence and experience to the procurement technology, data and analytics ecosystem of over 4,000 companies. The process will involve a unique combination of data, customer reviews and expert opinion from procurement and technology leaders and investors. This will create the ProcureTech100 – the definitive 100 pioneering digital procurement solutions on the planet; and also ProcureTechSOURCE – the ultimate marketplace for digital procurement solutions.
A Unique Partnership with Powerful Synergy
“The procurement environment is evolving at an increasing pace, with digital solutions able to simplify, expedite, and improve the process dramatically. ProcureTech, Craft and SecurityScorecard are partnering to create an intelligent, collaborative platform to help make this shift happen.”
ProcureTech provides the platform – an intelligent, digital market designed to change the way professionals source, select and buy digital procurement solutions. It provides a dedicated, transparent channel for vendors to share their capabilities, streamline lead generation and increase sales.
Craft provides comprehensive data that allows supply chain and procurement professionals to better understand their suppliers, proactively manage relationships, innovation and respond to risk.
“We’re excited about uniting powerful data sources to enable companies to make informed supply chain decisions and gain access to the best digital procurement solutions available. ProcureTech fills a critical gap in the market, showcasing companies that offer the technology to meet complex selection criteria, especially when selecting technologies with supplier risk, diversity, and sustainability in mind.”
Seb Butt, Craft’s General Manager for EMEA has observed a sharp increase in demand for digitalisation over the past 2 years; “Procurement has not been prioritised when allocating digital transformation time and resources in the past few years, but this is changing. Through a combination of unprecedented disruption due to the pandemic, supplier challenges related to cyberattacks, shipping delays, geopolitical competition, human rights violations, and extreme climate events – enterprises have had to re-think what’s important for them – supplier resiliency is at the top of that list and digitalisation is a cornerstone.”
The partnership with SecurityScorecard will support companies in identifying and onboarding best-in-class procurement technology vendors by providing buyers with continuously updated security data that covers the comprehensive risks (including cyber) that face a business in a single location. This will eliminate the need for them to gather the data on their own, creating huge efficiency gains.
In a digital environment with constantly developing technology, cybersecurity is now more important than ever. That is where SecurityScorecard enters. SecurityScorecard’s CEO, Aleksandr Yampolskiy, writes,
“We see this partnership as an opportunity to further the importance and role that cybersecurity plays in the procurement process in the interest of making it a table stakes requirement for all companies and their respective procurement teams.”
Transforming Procurement Together
The launch of ProcureTech combines the industry-leading standards, cutting-edge technology solutions and expert-driven insights of three deeply synergetic companies. In its creation, the companies hope to digitally transform procurement for the better – setting new standards for operating in the ecosystem.
The partnership enables greater transparency into the true capability, experience and performance of thousands of digital procurement solutions. This is a unique perspective and a platform for creating faster, smarter matches. But it is also encouraging enhanced reporting on cybersecurity, facilitating deeper evaluation of risk and capability, and contributing to a stronger supply chain landscape that is resilient, adaptive, and digitally enabled.
Yampolskiy of SecurityScorecard adds, “We hope that other vendors, outside of the procurement technology space, see this as an example of how procurement should be done, and start aggregating continually refreshed comprehensive data on themselves and sharing it with prospective buyers.”
“Together, Craft, SecurityScorecard, and ProcureTech intend this new platform to help supply chain and procurement professionals discover, evaluate, and monitor digital procurement solutions to create stronger supply chain resilience through a powerful combination of comprehensive data, insights, and software solutions. In parallel, ProcureTech provides a collaborative platform for vendors to share their solutions and experience”
Lance Younger CEO ProcureTech.
Procurement professionals can get involved by completing customer reviews on the digital procurement solutions that they are using. ProcureTech will plant 10 trees for every customer review that is completed. Digital procurement solution providers can check out their profile on ProcureTech.co, update and also ask customers for reviews too.
ProcureTech is on a mission to accelerate and amplify the digital future of procurement to solve the most pressing social, environmental, and economic challenges. ProcureTech is a dynamic platform for procurement and technology leaders, entrepreneurs and the digital procurement ecosystem. For more information, visit procuretech.co or connect with us on LinkedIn.
Craft is the leading supplier intelligence platform that helps supply chain and procurement professionals discover, evaluate, and monitor suppliers to create stronger supply chain resilience through a powerful combination of comprehensive data, insights, and software solutions. For more information, visit www.craft.co or connect with us on LinkedIn.
SecurityScorecard is the global leader in cybersecurity ratings. Founded in 2013 by security and risk experts Dr. Aleksandr Yampolskiy and Sam Kassoumeh, SecurityScorecard’s patented rating technology is used by over 16,000 organizations world-wide for enterprise cyber risk management, third-party risk management, board reporting, and cyber insurance underwriting—making all organizations more resilient by allowing them to easily find and fix cybersecurity risks across their externally facing digital footprint. Every company has the universal right to their trusted and transparent Instant SecurityScorecard rating. For more information, visit securityscorecard.com or connect with us on LinkedIn.