SAN FRANCISCO--(BUSINESS WIRE)--Scout RFP, the company that is reinventing Sourcing and Procurement, is pleased to announce CIO Applications has chosen it as one of the Top 10 Auction Software Solution Providers 2019. The positioning is based on an evaluation of Scout’s in-depth capabilities in the Auction Software Industry. The annual list of companies is selected by a panel of experts and members of CIO Applications’ editorial board to recognize and promote technology entrepreneurship. In addition, Scout was ranked as the top e-sourcing tool for user satisfaction in a recent industry report, Vendor Market: E-sourcing tools, from Procurement Leaders.
“It is our pleasure to feature Scout RFP as one of the Top 10 Auction Software Solution Providers 2019. We are impressed by Scout’s platform that provides collaborative cloud-based reverse auction software and enables procurement to automate core processes,” said Joe Phillip, Managing Editor of CIO Applications.
A survey from Gartner’s Procurement Leadership Council states that less than 30% of procurement teams have automated their procurement processes. In addition, companies can save up to 25% of costs when they adopt e-sourcing solutions like reverse auctions. Legacy reverse auction systems have traditionally been cumbersome, expensive, and left teams dissatisfied. Modern technology systems incorporate visibility, collaboration, and simplicity that allow procurement teams to achieve greater strategic business impact. Enterprises who implement a reverse auctions solution see 20-30x more bids and 12-24% greater savings, according to the Institute for Supply Management (ISM).
“These recognitions further validate Scout’s innovation, vision, and industry impact,” said Chris Wada, Vice President of Product at Scout RFP. “Scout Reverse Auctions is just one of the many ways we are transforming the Source to Contract space by enabling procurement operations to invest in their relationships with suppliers and achieve collaborative business outcomes faster than ever. This innovation supports Scout’s continuous commitment to setting our customers up for long-term success.”
For more information on Scout RFP’s Reverse Auctions solution, visit https://www.scoutrfp.com/scout-product-tour/reverse-auctions/.
About Scout RFP
Scout is the sourcing and supplier engagement platform trusted by procurement teams to streamline their process, manage a unified pipeline of projects, and collaborate with stakeholders and suppliers to achieve greater business impact. Over 200 global brands like Adobe, Biogen, easyJet, Workday, Salesforce, ServiceNow, and Zappos trust Scout’s automated sourcing and auction platform to deliver greater impact through seamless business engagement. Managing over $23 billion in project spend, Scout’s powerful platform makes enterprise commerce faster and more transparent, reduces risk, and drives profitability. Scout is headquartered in San Francisco, and funded by Scale Ventures, Menlo Ventures, New View Capital, Workday Ventures, Salesforce Ventures, and GV. Read more on the Scout Blog or follow @scoutrfp on Twitter or LinkedIn.