Scout RFP – Firm Moves Into the “50 To Know” Spend Matters List

We announced here the launch of the Spend Matters 50 to Know and 50 to Watch awards, identifying firms in the procurement solutions area that we think procurement practitioners should have on their radar. Our colleagues at Spend Matters US are now publishing a handful of articles looking at some of the firms who made the leap this year from the “to watch” category to the “to know” list. As they put it:

“Each year, some companies on the Spend Matters 50 Providers to Know and 50 Providers to Watch lists push themselves beyond simply a standout performance. They earn the recognition that they are not only bringing innovation into procurement organizations but also leading the charge to change the way we do business for the better. These are the providers who shifted from Watch to Know in 2018”.

We covered our colleague's interview with OpusCapita here, and they have also published a piece looking at Scout RFP, who have made the similar leap this year. The Q&A features Alex Yakubovich, chief executive at the firm, a provider of sourcing solutions. Here is a brief extract, but do take a look at the whole interview if you’re into innovative procurement technology.

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Spend Matters: In case our readers aren’t fully familiar, can you give us a one-sentence summary of what your company does?

Alex Yakubovich: Scout is a collaborative, cloud-based sourcing suite that helps companies operate more strategically and more collaboratively and make more informed purchasing decisions faster.

Spend Matters: How has your company changed since it was first named a Provider to Watch? What is the biggest lesson you've learned?

Alex Yakubovich: Our entire philosophy is to start simple and then work with our customers to enhance, improve and expand Scout to help them meet their goals. Since we were named a Provider to Watch, we’ve extended our offering from a streamlined, automated RFP tool to a full sourcing platform — while keeping the focus firmly on delighting the customers and suppliers who use it.

Since last year, we’ve grown our customer base by more than 75%, raised a Series B funding round and launched exciting new products that help enterprises manage their savings, engage more effectively with the business and put in place effective, measurable supplier lifecycle management programs. Along the way, we also kicked off Spark, our first user conference in San Francisco, and have helped our customers deliver over $874 million in savings to their business partners.

… Our vision at Scout is to unite intelligent sourcing with the benefits of great supplier lifecycle management — not just managing risk, but also informing the business and helping companies make more informed decisions overall. If we do this right (and I think we can), not only will we change sourcing, but we’ll fundamentally transform commerce between businesses.

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