Solutions and supporting content and services for automating sourcing strategy (including category strategy), execution (e.g., RFx management and e-auctions) and portfolio/performance management.

Why Invest in Sourcing Technology?

Sourcing solutions help build a top-performing supply base by optimizing pre-contract processes to maximize the value of supplier spending. They automate and improve the strategic and tactical sourcing processes (with integration into contracting, supplier management and P2P) all the way from upfront strategy development to final award decisions.

Why selecting the right Sourcing Technology can be difficult

Vendor intelligence

Developing a deep understanding of vendors’ capabilities (functionality, services, process and/or category expertise) and selecting the right tool is critical in managing the many facets of sourcing (i.e., goods, services, commoditized categories, critical/strategic spend and public vs private sector).

Specific requirements

Considering right-fit requirements of various stakeholders beyond procurement’s needs (including implications for your suppliers) to drive solution adoption is key.

Holistic view

Looking beyond RFx management to consider other modules and/or integration/interoperability capabilities as sourcing doesn’t happen in isolation from other processes.

Top 5 Sourcing Tech Capabilities

Learn more about Sourcing tech capabilities and discover the importance of capabilities in your technology selection.

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top capabilities chart for sourcing

Spend Matters intelligence helps you identify which solutions enable you to:

Facilitate internal and external collaboration before, during and after sourcing events and make better sourcing decisions (i.e., supplier selection, awards) by bringing the bigger picture into the sourcing process (outside-in intelligence, risk, performance, sustainability, etc.).

Enable users to analyze and test various scenarios while ensuring compliance with internal processes and overarching sourcing strategies. 

Automate sourcing processes and outcomes via different techniques (i.e., workflows, RPA, AI) to reduce manual work to manage RFxs, negotiations and the implementation of negotiated terms in operational systems.

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Use the Spend Matters free vendor directory to research tech solutions and consultants serving the procurement and supply chain industry.

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Directly assess the technical capabilities and customer scores of digital procurement solutions to find the best fit for your organization.

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