Creactives: Vendor Analysis (Part 1) — Solution overview, strengths/weaknesses, tech selection tips

In this two-part Spend Matters PRO series, we will overview Creactives' unique technologies and capabilities that make it a vendor that every global multinational sourcing direct materials should be considering as part of their overall source-to-pay and/or supply chain technology arsenal.

While there are a large number of traditional solutions for material master data management (MMDM) and a similarly large number of analytics solutions with artificial intelligence (AI) auto-classification, most of the traditional MMDM solutions don't use advanced machine learning (ML) and AI. Most of the analytics solutions with AI have been trained on indirect data sets for the purpose of spend, and not material, classification. There are few MMDM or analytics solutions that were built specifically for automatic part and material classification — and fewer still for real-time classification and maintenance during the procurement cycle.

This is why Creactives is one of the most interesting players in the source-to-pay (S2P) space to hit the global procurement solutions scene. Its approach, combined with its almost two decades of experience in material classification using advanced knowledge engineering technology (ML, AI, semantic technology, deep learning, etc.), make it a unique provider — especially when you consider its real-time ability to classify and search parts and materials in over 25 languages.

Part 1 focuses on company background, solution strengths/weaknesses and tech selection tips. Part 2 gives a deep look at the solution, a list of Creactives' competitors and a detailed company SWOT analysis.