The ProcureTech team announce the launch of the ProcureTech100, the definitive global procurement technology, data and analytics solutions.
The ProcureTech100 has been launched in response to rapid growth of the digital procurement market and is a part of a powerful, global, live platform dedicated to procurement. The ProcureTech100 will showcase the 100 pioneering digital procurement solutions, from the digital procurement ecosystem of over 4,000 vendors, and will be announced at a virtual event in Autumn 2021.
The demand for digital procurement solutions continues to grow rapidly and has accelerated through the recent pandemic. The market is now estimated to grow by 10.2% CAGR from 2021 to 2026  as the need for solutions to mitigate supply risks, improve innovation and sustainability, all whilst maintaining profitability increases in importance. Despite this growth, the increase in variety and options plus the complexity of the solutions available means sourcing and implementing digital solutions frequently under-delivers against objectives.
“Enabling digital enablement ideas to thrive at speed is a 2021 business imperative, especially to scale sustainable procurement,” says Thomas Udesen, CEO, Bayer and Co-Founder of the Sustainable Procurement Pledge.
ProcureTech will provide a unique solution to this. The comprehensive platform will review over 4,000 digital solutions globally across all industries and all procurement capabilities from sourcing and contract management to supplier management and risk. By applying statistical analysis of over 50 data points including growth, security and innovation, plus live customer reviews we will create a shortlist of 150 to 170 businesses. Then insight and experience from over 60 panellists, a combination of procurement leaders, investors and technology experts will help define the final 100 solutions across 14 categories including growth, social impact and customer satisfaction.
ProcureTech‘s CEO and Founder, Lance Younger said “The ProcureTech Ecosystem is one of the most dynamic, progressive and innovative elements of the enterprise. Thousands of pioneering procurement technology, data and analytics companies bring the ecosystem to life, supercharging leading procurement teams across the globe with the latest innovation and insight.”
All digital procurement solution providers can collaborate on the platform for free, sharing their solution profile and requesting customer reviews. Procurement and technology leaders are also free to use the platform, as a one stop-shop for digital procurement resources, solutions and to complete customer reviews. Recognising the importance of customer reviews and the collective intelligence in the procurement community, ProcureTech are planting 10 trees for every review completed.
“The ProcureTech100 digital procurement solutions are driving enterprise transformation. We are excited to be collaborating with the industry to showcase these pioneers, creating greater visibility and access to the digital procurement ecosystem,” says Younger.
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. It is an intelligent, global, digital platform designed to change the way professionals source, select and buy digital procurement solutions; and home to the ProcureTech100 – the definitive 100 pioneering digital procurement solutions.
Lance Younger, CEO & Founder