Recently Gartner released a report – Magic Quadrant for Strategic Sourcing Application Suites 2015 evaluating the strategic sourcing application suites market. The strategic sourcing application suite delivers four primary capabilities – Spend Analysis, eSourcing, Contract Management and Supply Base Management.
The report evaluates 14 vendors on two parameters – Ability to Execute – products, processes, systems, methods and procedures to achieve competitiveness, efficiency and effectiveness and Completeness of Vision – to grasp current and future market and technology trends, customer needs, and competitive forces as Gartner views them.
We believe that the procurement technology landscape has changed quite dramatically in last one year itself. While last year’s report had eight players in the leaders quadrant, this year the market has become more pronounced with just four players marking the leaders’ territory. (As seen in the graph above).
The procurement function is becoming more strategic. Procurement professionals today are utilizing technology to not just source products/services but configuring the solutions to track savings, measure and monitor supply risk, support category management, and leverage community/ecosystem knowledge.
[symple_heading type=”h3″ title=”Some of the trends highlighted in the report are*;” margin_top=”10px;” margin_bottom=”10px” text_align=”left”]
To read Gartner’s analysis of the procurement technology landscape in detail, click on the download report below.
*Gartner, Inc., Magic Quadrant for Strategic Sourcing Application Suites, Deborah R Wilson, Richard Adams[symple_button color=”blue” url=”http://campaign.zycus.com/GMQ2015//WebBlogL87943?source=WebBlog” title=”Visit Site” target=”blank” border_radius=””]Download Report[/symple_button]