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Best Strategic Sourcing Software

Products within the Strategic Sourcing category support the work performed by procurement teams when planning for assessment and performance management initiatives. The functional capabilities typically included by Strategic Sourcing applications include project management, category management, savings tracking, data collection, team collaboration, and a supplier marketplace. Strategic sourcing is distinct from tactical and process focused applications that typically support operational requisitioning, ordering, invoicing, and payment processes.

Strategic sourcing is often deployed as a shared service, even for very large organizations, and are used for managing all types of spend — including services and direct, raw, and indirect materials. These shared-service centers often report into the procurement or supply chain organizations.

To qualify for inclusion in the Strategic Sourcing category, a product must:

  • Include the capability to collect and store a repository of structured data
  • Provide side by side comparison of included sourced products
  • Provide the ability to easily create, edit, share, and collaborate on data internally
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Strategic Sourcing reviews by real, verified users. Find unbiased ratings on user satisfaction, features, and price based on the most reviews available anywhere.

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    Coupa Procurement
    (14)4.1 out of 5
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    The role of procurement is changing. This is a good thing. Generating savings and ensuring compliance remain paramount, but procurement now answers for innovation, supplier success, internal customer experience and value creation to name a few. With Coupa's strategic procurement solutions and tools, procurement can deliver on their core mission – increasing user and supplier adoption to realize optimum savings. But beyond that, Coupa’s flexibility and configurability helps procurement partner with the business to drive greater value. And the ability of Coupa's procurement tools to integrate with multiple ERPs, allows procurement to team with IT to deliver an intuitive, consistent purchasing experience to every employee. Coupa Procurement solutions allow you to achieve the highest system adoption across all your users whether they’re employees, managers, finance or even suppliers.

    Scout RFP's cloud-based procurement and sourcing solution helps organizations make better strategic spend decisions through improved visibility, enhanced collaboration, and simplified processes.

    Cloud-based solutions for collaborative spend, finance, and sales management. ERP and CRM systems are great, but they don't do much to improve interactions between businesses. For all your investments in technology, your B2B transactions are still managed with a fragmented array of applications and manual processes. Blocking your view, keeping costs and risks high, and hobbling your competitiveness. You need technology that makes trading partner collaboration easier and more efficient. Because in a volatile global marketplace where businesses rise and fall every day, sustainable competitive advantage requires strong, mutually beneficial relationships. Ariba makes that easy. With just your web browser and a user-friendly interface, you can work with your trading partners using market-leading SaaS solutions for spend management, collaborative finance management, and sales acceleration management all integrated on a single platform. These solutions are available by subscription and on-demand, so there's no software to install or maintain. They're scalable, cost-effective, and burden-free. They're also easily integrated with your ERP and back office systems. All it takes to extend your processes to more trading partners is plugging into the Cloud. And no worries, Ariba systems are thoroughly tested to ensure continuous, secure, and reliable service delivery. You can be up and running in no time, using the industry's most complete platform to efficiently and effectively locate, communicate, and collaborate with your trading partners. Commerce is simply better with Ariba technology, whether you're looking to drive sales, control spending, or manage cash.

    Procurify
    (5)4.5 out of 5
    Optimized for quick response
    Optimized for quick response

    Procurify is the best in class Spend Management Platform. Control, track and report your company’s spend. Robust request to approve functionality, purchase order management and authentication of deliveries all in one place. Purchasing in Real-Time Create, Track, and Report all your Requisitions, Purchase Orders, and Expenses in Real-Time, at the office or on the go. Control Spending As it Happens Be proactive instead of reactive. Accurately stay on top of your budgets before making decisions with instant analytic reports. Streamlined Purchasing Platform Request, Approve, Purchase, online, on your phone, from anywhere, instantly. Procurify makes procurement fun! Additionally, we include budget management tools, tracking & reporting tools, free training, easy integrations, free mobile companion app.

    BuyerQuest is a next-generation procurement solution that brings the eCommerce shopping experience to the Enterprise. End users make better, informed buying decisions while enabling tighter trading relationships with suppliers. Our customers use BuyerQuest to deliver a wonderful employee buying experience, reduce procurement process friction, drive contract compliance, and save money.

    Zycus is a leading global provider of procurement solution suites across the Source-to-Pay cycle. Our product portfolio includes applications for strategic and operational procurement functions, such as eProcurement, eInvoicing, Spend Analysis, eSourcing, Contract Management, Supplier Management, Financial Savings Management, Project Management, and Request Management. Zycus Procure-to-Pay software is a next-generation solution suite providing a Guided-Procurement-System to ensure consistent and accurate buying decisions for cataloged & non-cataloged goods & services. With full Purchasing Process Automation and tight integration with the strategic sourcing modules, Zycus Procure-to-Pay incorporates powerful functionalities and easy-to-use features to enable "simple & intuitive” shopping experience & efficient invoice management for the AP team.

    Bonfire streamlines your sourcing, contract management, and vendor performance on one cloud-based platform, delivering a frictionless, centralized and effective sourcing experience. Easily bring the right stakeholders together to make confident, collaborative, and compliant sourcing decisions. We’re recognized as a Gartner Cool Vendor in 2018, as well as being awarded as a Top 50 to Watch platform by Spend Matters.

    Fairmarkit
    (2)4.3 out of 5
    Optimized for quick response
    Optimized for quick response

    Fairmarkit: Automated tail spend control and management because All Spending Matters. Tail spend is not inconsequential. It makes up 20% of the average company’s overall annual procurement spend. Also, because tail spend comprises hundreds if not thousands of small-spend purchases and is generally not automated, tail spend is an inefficient, high-touch nightmare as it involves some level of interaction with 80% of all vendors. Fairmarkit empowers procurement leaders to manage tail spend to: Cost savings Using machine learning techniques, Fairmarkit identifies the right vendors to compete for each tail spend purchase. On average, customers realize savings of 6-12%. Time savings Fairmarkit simplifies and streamlines the RFQ process, allowing buyers to spend an average of 30% less time on bids and tripling the number of approved vendors included in each request. Risk reduction Fairmarkit puts your data to work for you. By tracking and analyzing tail spend transactions and trends, Fairmarkit identifies operational risks and automates the process of obtaining the best prices from trusted vendors.

    SAP Fieldglass is a provider for services procurement and external workforce management.

    Xeeva is driving the development and delivery of the next generation of intelligent procurement and financial solutions. Xeeva’s technology is used in over 40 countries and is available in 18 languages. The company’s end to end technology suite includes Sourcing, Procure to Pay, Supplier Collaboration, Financial Collaboration and Extended Enterprise solutions.

    Promena offers e-Sourcing, e-Procurement, Supplier Base Management and Spend Analysis solutions with the aim of providing efficient and effective control of time, labor and cost savings to customers in their purchasing activities.

    GEP helps global enterprises operate more efficiently and effectively, gain competitive advantage, boost profitability, and maximize business and shareholder value. Fresh thinking, innovative products, unrivaled domain and subject expertise, and smart, passionate people — this is how GEP creates and delivers unified supply chain solutions of unprecedented scale, power and effectiveness. Named a Leader in the Gartner Magic Quadrant and Best Provider at the World Procurement Awards and EPIC Procurement Excellence Awards, GEP is frequently honored as an innovator and leader in source-to-pay procurement software by Gartner, Forrester, IDC, Procurement Leaders, SpendMatters, PayStream and Ardent Partners. GEP is also ranked leader in managed procurement services (procurement outsourcing) by Everest Group, NelsonHall, IDC, ISG, HfS and IAOP. In addition, the primary research firm in the management consulting sector, ALM Intelligence, ranks GEP leader in procurement strategy and supply chain consulting. With 14 offices and operations centers in Europe, Asia and the Americas, Clark, New Jersey-based GEP helps enterprises worldwide realize their strategic, operational and financial objectives. To learn more about our comprehensive range of strategic and managed services, please visit www.gep.com. For more about SMART by GEP, our cloud-native, unified source-to-pay platform, please visit www.smartbygep.com.

    Aquiire combines intelligent parallel (federated) search capabilities, dynamic web content access, supplier catalog and punchout management tools, actionable intelligence and a familiar B2C-like shopping experience for corporate shoppers.

    Deposco's Bright Source improves inventory management and offers extended network sourcing. Avoid stock-outs and utilize drop-ship and crossdock fulfillment strategies to offer products faster.

    Determine, Inc. (NASDAQ: DTRM) is a global provider of SaaS Source-to-Pay and Enterprise Contract Lifecycle Management (ECLM) solutions.

    Strategic Sourcing is a set of software modules that help to select the right suppliers for the needs, to savings starts.

    EC Sourcing Group offers on-demand supply management solutions for strategic sourcing professionals that are comprehensive, robust & easy-to-use. All of our solutions are developed & supported by former sourcing professionals.

    Intake is a self-service sourcing solution that facilitates project requests, cross team collaboration, and enterprise-wide alignment on projects.

    intello3c is a Big Data & Artificial Intelligence based Cost Negotiation Platform for apparel brands, the product helps reduce sourcing cost by 3-5% and costing lead time by 30%.

    Manage your Complex Outsourced Projects with iSpec. Reduce the risk of delays and cost overruns

    ITbid provides the optimal combination between experience, methodology and technological platform, to be the perfect partner to achieve Purchasing excelence

    THE PROCUREMENT EMPOWERMENT PLATFORM Ivalua’s Platform is uniquely designed for agility, performance, and scale. Built on a single code base and data model leveraging a configurable cloud infrastructure it fundamentally alters what Procurement & Supply Chain leaders can achieve. Unmatched flexibility -Best-in-class is not one-size-fits-all. -Easy configuration is a core principle of the Ivalua platform. -Meet your users’ needs, from custom UI and workflows to new forms and fields. -Collaborate with suppliers and other stakeholders by tailoring processes to their needs. Welcome to the Configurable Cloud The Ivalua Platform is built on a configurable cloud. An industry leading cloud environment that allows you to scale up or down and be assured of the highest security and performance standards, no matter where or what device.

    Jaggear offers a robust sourcing solution designed to help create events, manage bids and award contracts.

    This cloud-based, collaborative solution improves profitability, productivity and control across the end-to-end supply chain by bringing all partners together. Whether you are in a single enterprise or cross- enterprise environment, gaining transparency to a collaborative business plan means joint execution, real results and a true win-win partnership that delivers mutual benefits.

    JDA Fulfillment helps you create an accurate, time-phased inventory plan. You'll deliver superior service, while also controlling your costs.

    Opt-source technology is an innovative provider of solutions & services for strategic & transactional procurement. Our focus areas include catalogue management, s2c (source to contract cycle), p2p (procure to pay) & supplier lifecycle management.

    Precoro is a robust procure-to-pay system for your business. Automated purchasing, simple sourcing and spend analytics — all in one easy-to-use platform. Procurement Software Contains all functionality that helps to automate sourcing, inventory, catalogs and contracts management. Keeps suppliers’ relationships simple. Purchase Order Software Automates creating purchase orders, transmitting POs to suppliers, reconciling supplier invoices to POs and contracts, managing Purchase Requests. All in one place. Spend Management Assign orders to budgets to control spending within cost centers. Real-time reports and custom approval workflow puts you in control.

    PROACTIS Sourcing is designed to allow users to streamline, standardise and enhance all aspects of their sourcing process to achieve greater savings and compliance.

    ProcessBolt is a collaborative, easy and modern way to conduct the vendor risk assessments, vendor performance assessments, vendor selection, and RFI/RFQ/RFP.

    Proctrix is the go-to sourcing and procurement solution for mid to large-sized companies. Companies use Proctrix to manage the procurement process with its thoughtful workflows on bid management, reverse auctions, contract management, and supplier management. CPOs, CFOs, Purchase Heads and Procurement Managers have been able to implement Proctrix across teams to gain better spend visibility and collaborate effectively across the procurement value chain. Proctrix's powerful procurement suite provides procurement teams with the necessary tools to drive profitability and make decisions faster with more transparency. Proctrix was founded in 2017.

    ProcurePort provides world class technology and services to assist Global 1000 and other Mid Size Companies with managing their spend and automating their procurement processes. ProcurePort On Demand solutions are Cloud hosted in a SAS 70 Type II Environment to provide your organization with the highest level of data security and confidentiality.

    ProcureWare is an e-procurement software for businesses and organizations of all sizes to manage their suppliers, sourcing, and/or contracts.

    Traditional RFx are time consuming and resource intensive, causing end-of-year backlogs. Reverse Auctions are based on price only and thus deliver the cheapest solution that barely meets the specifications, limiting their adoption. These specification-based solutions are marred with flaws. By shifting the sourcing paradigm to business needs, Procusofts technology delivers a compelling ROI by enhancing your procurement processes to

    Progenitor is an end-to-end solution for Contract Management and Procurement, driving productivity, savings, and improving transparency.

    Prokuria is a procurement automation platform that enables procurement departments and top management to organize all their RFPs and e-Auctions with suppliers in one place. It's designed for the companies who need better control over the procurement process and achieve cost and time savings. Unlike traditional never-ending emails and frustrating excels or very complex and expensive platforms, Prokuria is fast to use, easy to start and cost-effective. Prokuria users launch their first RFPs in less than 5 minutes.

    Promena e-Sourcing offers solutions designed to for cost savings, efficiency, control and risk reduction in strategic purchasing activities.

    With a state-of-the-art cloud based central platform, ProMost empowers intelligent spending practices that allow companies to start saving immediately.

    There are NO FEEs to register with the WorldERP Network to view ProRFx solicitations. Bidding is super-fast and easy!

    We streamline the Global Sourcing and Sales Quoting process for Manufacturers and Distributors. Our software for Global Sourcing, Product Costing and Sales Quoting generate a 50% productivity improvement .

    QLM Sourcing is a sourcing and supplier management software designed to amplify spending power and lower costs.

    RequirementsHub eliminates the confusion of endless meetings, notes, documents, and emails by centralizing the entire process on an intelligent platform--helping you make the best decision. Stakeholder collaboration and tracking allow participants from any dept to contribute.

    Scopeworker digitizes services supply chains for enterprise. It is an Industry 4.0 Digitized Supply Chain Vendor Management System (DSC VMS). The web interface and mobile app templates real-time automate procurement, finance and productivity management between the buyer, supplier and worker. External disconnected systems including ERPs, databases and IoT are aggregated and automated

    Simplify the RFQ process and make life easier for buyers all over the world, whether they're working on their own or within an organization. We wanted to do it with software that was nice to look at and easy to use.

    SourceRFX is an exclusive platform to facilitate Industrial Procurement & Marketing. SourceRFX enables manufacturers, suppliers and service providers to connect

    TacticSource is an online sourcing solution, enables sourcing organizations to accelerate and improve negotiated savings through strategic sourcing strategies such as online reverse auctions.

    tealbook connects companies so they can interact with more efficiency and trust. We capture, cleanse, enrich, automate and expand supplier information to reduce the time and cost required to find one another for the purpose of doing better business. tealbook uses the latest technology to improve the quality of partnership decisions, reducing effort and cycle time while increasing trust for all parties. By combining machine learning, leading software development, procurement and operations expertise, our team transforms how companies improve their existing buyer-supplier partnerships and build new lasting ones.

    Tiidan is an advanced data and risk assessment platform for international trade and global sourcing.

    Vendorful has reimagined eSourcing software, marrying a modern user experience with a robust set of APIs to transform the way organizations manage their sourcing efforts.

    Vroozi is 100% cloud-based, mobile-friendly purchasing software. This means employees can search, request, approve, and order items and services on any device. With Vroozi, companies can easily create a marketplace; automate requests, approval, and orders; transmit orders to suppliers electronically; and analyze spend to make informed business decisions. Vroozi also helps you manage all documents (Purchase Orders, Goods Receipts, and Invoices) in one place. 3-way matching between these documents ensure accurate payments and savings. Most enterprise companies have negotiated pricing with suppliers, but employees don’t know about those contracts or how to comply because the contracted items are not visible to them. That’s why enterprises need a catalog marketplace like Vroozi, where they can create an internal marketplace for their employees to find everything they need and still purchase within corporate policy. We help move rapidly-growing companies from paper requests and non-approval orders, to ordering online with proper approval from managers and tracking of all orders in one place. Finance people love us because now they have visibility into their cash flow and can assign budget accordingly. We help them minimize surprises at the end of the month. In fact, they don’t necessarily need negotiated suppliers. Our platform is pre-integrated with Amazon Business and a few other suppliers, which provide hundreds of millions of items across different categories.

    Zycus is a leading global provider of procurement solution suites across the Source-to-Pay cycle. Our product portfolio includes applications for strategic and operational procurement functions, such as eProcurement, eInvoicing, Spend Analysis, eSourcing, Contract Management, Supplier Management, Financial Savings Management, Project Management, and Request Management. Zycus' e-Sourcing solution automates and dramatically accelerates sourcing processes; ensure fact-driven decision making and consistent sourcing event outcomes.