Spend Matters 50/50: Trade Extensions – A Provider to Know in 2015

100 companies - 100 days

We announced here and here our two (not ranked) lists: Spend Matters 50 To Know and 50 To Watch firms for 2015/2016. In the first case, this is our view of the 50 solution provider type organisations in the procurement industry that every senior procurement leader should be aware of and understand. The 50 To Watch are the up-and-coming firms  - those with interesting and relatively new solutions for our market. The 50 To Know are the key organisations in our industry that procurement executives need to have on their radar.

Having announced the lists, our US colleagues are now featuring each of the 100 firms in turn with an article giving an overview of each, with some headline Spend Matters thoughts on them. So on this site we will be giving you a brief extract of the US article, plus adding our own comments where we have anything useful to add from a European perspective. Sometimes we do, sometimes we don’t!

Here is what our US colleagues had to say about Trade Extensions:

Trade Extensions is a fascinating firm, very different from pretty much any other on our Almanac list. Founded by brilliant Swedish mathematicians, then getting an injection of British commercial blue-chip management some years ago, the firm has stayed true to its roots in complex optimization ... taking on the biggest, most challenging sourcing tasks and problems in the world ... This is intrinsically complex stuff, but Trade Extensions has made efforts to allow mere mortals to use the product successfully, such as its excellent "TESS Academy™" training material. The result is a firm that, while not huge, has a client list that probably includes more of the world's top 50 firms than perhaps any other procurement software vendor ...

You can read more of what our US site has to say about Trade Extensions here. In Europe - well, to tell you a secret, we actually wrote the above article that appeared on our US site because as we say, the firm has its origins in Sweden and the UK. It is very successful now both sides of the Atlantic; really, the case for using Trade Extensions is around the complexity of your sourcing tasks, not where you are located. And if you are not sure whether what you are doing is "complex" or not in terms of sourcing, download our paper here!

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