SUNNYVALE, Calif.--(BUSINESS WIRE)--LevaData, the company that delivers applied AI to transform strategic sourcing and procurement, today announced that it has been named an “IDC Innovator” in the report IDC Innovators: Sourcing Technology, 2019 (doc # US44862219, FEBRUARY 2019).
IDC Innovators are emerging vendors with annual revenue of less than $100 million that have an innovative new technology or groundbreaking business model. According to the report, LevaData was selected as an emerging sourcing vendor for the LevaData Cognitive Sourcing Platform due to its capabilities for “leveraging cloud technology and innovations such as artificial intelligence, cognitive, big data and analytics, and machine learning to gain a foothold in the highly competitive procurement market.”
The report also described solutions like the LevaData platform as “representative of a new breed of innovative technology software products that are addressing the sourcing business process within procurement.”
“We are absolutely thrilled that we have been recognized as an IDC Innovator for 2019,” commented Rajesh Kalidindi, founder and CEO of LevaData. “Another influential research firm has confirmed what our customers already know – that AI-powered strategic sourcing from LevaData delivers cost savings and ROI to procurement operations on a daily basis. We are proud of this honor and proud of the LevaData team members who helped make it happen.”
About IDC Innovators:
IDC Innovators reports present a set of vendors – under $100M in revenue at time of selection – chosen by an IDC analyst within a specific market that offer an innovative new technology, a groundbreaking approach to an existing issue, and/or an interesting new business model. It is not an exhaustive evaluation of all companies in a segment or a comparative ranking of the companies. Vendors in the process of being acquired by a larger company may be included in the report provided the acquisition is not finalized at the time of publication of the report. Vendors funded by venture capital firms may also be included in the report even if the venture capital firm has a financial stake in the vendor’s company. IDC INNOVATOR and IDC INNOVATORS are trademarks of International Data Group, Inc.
LevaData helps global enterprises improve gross margins by reducing supply chain costs, with a focus on delivering measurable and accountable supply chain solutions and strategies that transform companies. The unique LevaData Cognitive Sourcing™ Platform allows customers to sense, recommend, act, and learn. Customers include leaders in the top global supply chain organizations, as well as medium-sized OEMs seeking to achieve best-in-class direct materials sourcing practices. LevaData is headquartered in San Jose, California. For more information, visit www.levadata.com.