Top 10: Sourcing Platforms

Today's complex supply chain environment means that businesses have a wealth of suppliers to choose from, but they are not always the best fit.

To cut through the noise, leaders are utilising sourcing platforms which can help them identify, evaluate and secure emerging talent or supply chain vendors. They can help leaders procure materials services or find professionals to hire.

As business demand increases, these platforms help make operations much more simple, utilising advanced data and analytics to ensure leaders can make informed and confident decisions.

Supply Chain Digital takes a look at the top 10 Sourcing Platforms which are helping supply chains become more efficient and resilient. 

10. Synertrade

Employees: 200-500
CEO: Laurent Jeanmaire
Founded: 1999

Synertrade is an AI-powered and cloud-based source-to-pay platform, helping digitise supply chain procurement and sourcing. As supply chain resilience becomes a more central focus in operations, this platform aims to manage supplier risk – helping leaders secure their supply chains in advance.

It has a supplier relationship management capability, ensuring that data can be consolidated into a single source of truth. Through this, onboarding can be automated, tracked and uses real-time data. 

9. Fairmarkit

Employees: ~150
CEO: Kevin Frechette
Founded: 2017

Farmarkit utilises AI and gen AI capabilities, operating as an autonomous sourcing platform. It helps organisations scale competitive sourcing, while also ensuring it meets compliance requirements and follows the best practises. 

It aims to standardise sourcing and governance in order to improve cycle time and ensure audit readiness. Through this, businesses can ensure they are complying to global regulations at all time, reducing their risk as they change and avoiding potential for governance friction.

8. Zycus

Employees: ~1,700
CEO & Founder: Aatish Dedhia
Founded: 1998

For businesses looking to ensure procurement-led supply chain resilience, Zycus is a dedicated platform which helps meet all sourcing demand. It aims to help with supplier risk management, spend-based disruption intelligence and sourcing agility. 

Through this, supply chain management is more simplified, utilising procurement tools to ensure the supplier side of the supply chain is strong. Through monitoring supplier based risk across core focus areas, Zycus helps protect supply chains and develop resilience amid ongoing turbulence.

7. Scanmarket

Employees: 1k-5k
CEO: Simon Paris (of Unit4)
Founded: 1999

Scanmarket, owned by Unit4, is a leading supply chain platform to ensure speed of ROI. It is an end-to-end Source-to-Contract platform, aiming to optimise and digitise procurement. Through the centralising of sourcing events, supplier management and contract lifecycles, it streamlines supply chain operations into a unified environment.

Supply chain leaders have realised the risk of fragmentation in their operations, but Scanmarket works to integrate technology in order to enhance cross-functional collaboration and optimise operations. 

6. Keelvar

Employees: ~150
CEO: Alan Holland
Founded: 2012

Supply chain leaders are expected to do more with less resources, driving resilience, expansion and cost savings all at once. As such, platforms like Keelvar have become an integral tool to ensuring efficiency.

It is an AI-native sourcing platform, designed to optimise and automate complex enterprise sourcing. It factors in supplier capacity, sustainability and risk into its sourcing scenarios, making sure that supply chains can be as cost-efficient, risk-free and sustainable as possible, as soon as a contract begins.

5. Oracle

Employees: 162,000
CEO: Clay Magouyrk and Mike Sicilia
Founded: 1977

As part of Oracle Fusion Cloud Supply Chain Management, the company has a sourcing platform which provides an end-to-end source-to-settle solution. The aim is to streamline strategic sourcing and optimise spend visibility. It also utilises built-in AI and automation to strengthen supplier collaboration. 

Through this, leasers can respond quickly to changing demand, supply and market conditions. This ensures they can stay competitive and resilient amid ongoing turbulence. It helps organisations develop greater resilience through seamless connection of the supply chain.

4. JAGGAER

Employees: ~1,400
CEO: Andrew Roszko
Founded: 1995

JAGGAER helps buyers and suppliers to communicate and collaborative across the network, ensuring resilient and transparent supply chains can be developed across the entire order lifecycle. 

As a comprehensive, AI-powered source-to-pay platform, it aims to streamline procurement, optimise supplier networks and mitigate supply chain risks. It is particularly useful for manufacturing and retail organisations, as they handle direct materials and supply chain collaboration. It offers one strategic sourcing platform across every event. 

3. GEP

Employees: ~7,000
CEO: Subhash Makhija
Founded: 1999

GEP offers agentic intake and orchestration, helping buyers get what they need at a faster pace. Sourcing, contracts, suppliers, purchasing and payments get brought together into one seamless experience. It reduces silos and gaps, making collaboration and communication across the supply chain much more simple.

Its AI-native platform, GEP Quantum Intelligence, eliminates bottlenecks, simplifies purchasing and boosts compliance, helping supply chains gain stronger supplier partnerships and deliver positive business impact.

2. Ivalua

Employees: 1,000
CEO: Franck Lheureux
Founded: 2000

Through Ivalua, platforms can maximise their value, utilising AI-powered strategy. Operations are unified throughout the entire process, from initial intake to final contract execution. 

This helps reduce risk throughout the supply chain, as it provides greater cohesion and visibility into supplier options. It also offers spend visibility, creating greater collaboration between supply chain leaders, finance professionals and procurement teams. Through this, it eliminates company siloes. 

Ivalua's automation means that workflow execution is accelerated, improving efficiency without adding extra complexity and resources. As a result, teams can do more with less. Alongside this, sourcing and contract decisions can be governed more accurately, through built-in policy controls and proactive compliance management.

1. Coupa

Employees: ~4,000
CEO: Leagh Turner
Founded: 2006

Coupa's sourcing platform combines strategic sourcing software with predictive supply chain design. Through this, it ensures businesses can run sourcing events, model network vulnerabilities and manage suppliers in a singular and unified environment. 

Supply chain leaders can gain automatic suggestions, with thousands of pre-rated suppliers available, with the opportunity to sort by ratings, geography and other important features. 

Coupa also enables exceptional levels of visibility into all of the company's spend, meaning leaders can spot new opportunities or greater power in supplier negotiations. 

As supplier and third-party risk sits as a great focus of reduction for global supply chains in today's volatile environment, ensuring bidders meet risk management policies before they are onboarded. This helps promote diversity and social responsibility throughout the company.