The business had its origins in complex optimization processes, and in the early days was very strong in transport and logistics procurement, where the optimization capability is vital to manage complex procurement events with a large amount of data and multiple complex requirements and constraints. TradeExtensions products excel in this area, with the ability to handle the most complex sourcing activities and provide users with the ability to ask ‘what if’ questions around the most complex tenders or auctions.
While transport and related areas are still a key part of the business, the solutions are highly applicable to all sourcing processes and will come into their own where there is complexity – either in the volume of data or in the need to analyse supply chain alternatives. TradeExtensions also offer services as support to the products. Their client base is very much blue-chip, international and largely private sector.
The optimization capability is world leading, which in Spend Matters opinion makes Trade Extensions a strong option for organisations who have complex and high value procurement categories. Whether this capability will eventually become a standard part of wider toolsets, in which case Trade Extensions will need to ensure they are part of that ‘core’ market; or will continue to be somewhat niche, with TradeExtensions as a leading player, is still unclear.
Sponsor Description: Trade Extensions sets new standards for on-line procurement and optimisation. Its unique procurement software helps organisations achieve their strategic buying objectives by specifying sourcing events, collecting offers and, most significantly, optimising the results. On-line procurement projects generate millions of variables and it is the algorithm design that underpins the success of Trade Extensions’ software and means solutions can be identified in seconds. Trade Extensions also provides integrated spend analysis to help organisations identify and exploit procurement opportunities.
Spend Matters Analysis: