Observations on this year’s 50 To Know, 50 To Watch procurement vendor lists – Creactives

Last month Spend Matters announced the ‘50 to Know’ and ‘50 to Watch’ provider lists, identifying 100 firms in the procurement and supply chain solutions area that we think all procurement practitioners should have on their radar. (Learn more about the selection methodology here.) These lists are determined by the entire Spend Matters analyst team to represent the best of the commercial providers that serve enterprise-level procurement organisations.

The 50 to Know are those firms you should already be aware of as a senior procurement professional.

The 50 to Watch are those organisations (some more established than others) that are doing something interesting or innovative in the market. These are currently lesser-known firms we think CPOs should learn about.

These are both global lists, and we are delighted that this year Europe-based representation is stronger than ever. One European firm that made the To Watch is Italy-based Creactives.

Creactives provides AI applied solutions to help procurement and supply chain organisations simplify and improve the efficiency of their digitalisation programmes. More than 50 large multinational companies have implemented Creactives’ Virtual Assistants, Spend Analytics and Material Master Data Management solutions to optimise their purchasing processes, gain real-time insights, and to make business data accurate and actionable regardless of region or ERP system.

Using experience gained from helping large customers from diverse industries, including process manufacturing, utilities, oil and gas, and logistics, Creactives has developed a dedicated technology to identify savings opportunities in supply chains and assure data quality at source.

We talked to Founder Adriano Garibotto to better explain the Creatives offering and to understand what the firm has been doing in the past 12 months to pique the analysts’ interests:

“Every Procurement professional knows that spend data misclassification, non-harmonized master data management, leads to enormous procurement process inefficiencies, lack of spending visibility, and, last but not least, ‘over-dimensioning’ of inventories, with duplicates and obsolete spare parts.

Creactives has developed its cutting-edge technology through its twenty-year history of dealing with big projects, using a large amount of multilingual and cryptic data to solve precisely those problems.

But, what is entirely new in our offer, is this new approach of moving the focus from trying to patch data errors after the event, to supporting people at the beginning of the process to prevent the mistakes in the first place. Today our Applied Artificial Intelligence assistants provide comprehensive search capabilities and data classification in a plurilingual environment typical of multinational companies. We have broken down the barriers between the human being and the machine. Our Virtual Assistants, integratable with any ERP or S2P platform, are a game-changer in helping customers run an effective procurement digitalisation strategy successfully.

Think about a company with a quarter of a million free text orders per year, created by over 5000 requisitioners in 18 different languages. To get from 35% of categorisation errors to 1% in three months would seem like magic – but that’s exactly what we have achieved!”

You can read more about Creactives here, and the full 50 To Know/50 To Watch lists can be found in the Spend Matters Almanac, our free vendor directory.

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