Spend Matters is pleased to introduce the second annual Future 5 nominees
The procurement technology market rapidly evolves. In addition to the 50 Providers to Know and 50 Providers to Watch lists Spend Matters releases in spring, we’re featuring outstanding procurement technology startups each Fall with the release of the 'Future 5' list.
It highlights exciting procurement technology start-up vendors we want to bring to your attention, too new to have made it onto this year’s Watch list. Vendors listed are independently selected by the analyst team over multiple rounds of debate meeting the following criteria - the vendor:
Is < 5 years old, with ideally < 2 years in the market (official product launch)
Has 5+ customers
Has an innovative, interesting application of technology
Maintains clear momentum and sustainability
Has < $10 million in revenue
Check out the detailed Future 5 vendor profiles below - and be sure to click on the 'Our View' section to read why they were selected by Spend Matters' analysts, including any threats/challenges we see ahead!
Winners of the 2020 Digital Procurement World (DPW) DEMO Virtual are also featured here as outstanding procurement tech newcomers in their own right - and all were already featured on Spend Matters' Spring 2020 Procurement Vendors to Watch list as well 🙂
Future 5 Selection 2020
graphiteConnect
2901 W. Bluegrass Blvd, Suite 205 | Lehi, Utah | 84043 United States
Frustrated by archaic and costly approaches available today, we had the vision to simplify how companies connect and transact with one another. That’s why we’ve created the first B2B network that lets companies speed up how they do business. Our platform, graphiteConnect, is a network of shareable company profiles meaning you can connect and access supplier data in days, not
Prewave
Favoritenstraße 116 | Vienna, Vienna | 1100 Austria
Prewave is a leading supply chain risk platform used by manufacturing companies worldwide to improve the transparency and resiliency of their supply chains. Our artificial intelligence (AI) based platform identifies risks in your supply chain based on public information, automatically and in real-time. With this information you can counteract possible delivery bottlenecks and production stops ahead of time. Potential sustainability
Teampay
228 Park Ave S PMB 85099 | New York, New York | 10003-1502 United States
Teampay helps procurement and finance teams manage distributed spending by unifying the purchasing process across the organization, from request to reconciliation. The conversational interface guides employees through the buying process, automatically enforcing the correct policy. Teampay serves as the single place to manage distributed spend, helping finance and procurement stay aligned. Teampay powers spending at leading brands like Wistia, Formlabs,
Trakti LTD
152-160 City Road | Kemp House, London, London | EC1V 2NX United Kingdom
Trakti is a unified platform for smart, self-executing and compliant contracts running on both private and public blockchain, streamlining the contracting process of medium-large enterprises, […]
Utmost Software
188 King Street #405 | San Francisco, CALIFORNIA | 94107 United States
Utmost, the first Extended Workforce System, offers solutions for the enterprise and its extended workforce - from temporary workers to consultants, vendors, freelancers, contractors, and more - to seamlessly and efficiently work together. The software is designed for workers to have control of their data and transparency into their work history, independent of traditional employment relationships. Utmost was founded in
DWP DEMO Virtual 2020 Selection
Fairmarkit
281 Summer Street, Fl 2 | Boston, Massachusetts | 02210 United States
Fairmarkit is the intelligent sourcing platform that empowers organizations to more efficiently purchase the goods and services they need. By equipping procurement and supply-chain teams with automation and data, Fairmarkit promotes competitive bidding while reducing manual work within existing processes.
IntegrityNext enables companies to monitor 100% of their suppliers for sustainability and compliance in order to meet the regulatory requirements and reduce risk. The IntegrityNext platform automatically obtains the required supplier self-assessments and certificates while monitoring social media for malpractice and reputational risks. The platform creates an instant CSR report that is certified by the GRI and covers all supply
Vizibl
1 Long Lane | London, London | SE1 4PG United Kingdom
Vizibl is a leading supplier collaboration and innovation platform, helping both buyers and suppliers manage all aspects of their relationship more effectively to deliver mutual value. Vizibl’s software makes every aspect of the relationship life-cycle transparent, so companies can align on their governance, strategy and develop great ideas together.
The procurement technology market rapidly evolves. In addition to the 
