AUSTIN, Texas--(BUSINESS WIRE)--SourceDay, a leading supplier collaboration engine for direct spend, today announced it is included in Gartner’s 2020 Report on Cool Vendors in Sourcing and Procurement for Supply Chain1. The report states, “New vendors entering the procurement solutions market are exploiting the gaps that traditional sourcing and procurement solutions leave untapped...New technologies enhancing sourcing organizations’ capabilities are catalysts to drive growth, resilience and competitiveness.”1
Gartner’s Cool Vendor research makes recommendations for the chief procurement officers responsible for technology solutions for supply chain operations seeking to advance their digital maturity. It includes the following suggestions:
- “Make digital investment decisions based on tangible and verifiable improvements, such as increased effectiveness, efficiency, transparency and savings, and not on exaggerated vendor promises.”1
- “Accelerate your digital roadmap and evolution by integrating specialized vendors with focused offerings that utilize emerging technologies and proven value for specific processes, such as enhancing analysis and decision-making capabilities.”1
This year’s report outlines some notable strategic assumptions, one of which asserts that “By 2022, 50% of all legacy spend analysis software will be retired, replaced by artificial intelligence (AI)-powered, cloud-based solutions.”1
“We are thrilled to be named a Gartner Cool Vendor. We believe that inclusion in this year’s report shows the world that it’s time to build more agile and resilient supply chains by digitizing supplier collaboration and transforming how companies manage the first mile of their production,” said Tom Kieley, CEO, SourceDay. “We believe this distinction validates that companies can protect revenue and reduce costs by replacing email and spreadsheets with modern technology. In order to remain competitive, companies have to challenge the status quo in sourcing and procurement.”
From our view, the information provided in the 2020 Cool Vendors for Sourcing and Procurement in Supply Chain report is valuable to all sourcing and procurement professionals. Especially those who are seeking new ways to transform their supply chains.
1Gartner, “Cool Vendors in Sourcing and Procurement for Supply Chain,” Koray Kose, William McNeill, and Miguel Cosio, June 16, 2020
Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
SourceDay is the collaboration engine that brings people, information, and processes together to modernize how companies manage orders with their suppliers, drive collaboration and ship orders on time. From Fortune 100 companies to mid-size manufacturers, thousands of organizations use SourceDay to connect their teams with their suppliers, centralize order data, and drive their businesses forward. Since 2015, SourceDay has helped more than 7,000 manufacturers, distributors and suppliers process more than $66B in total spend.