Gartner® Report: Market Guide for Sourcing Applications

According to the Market Guide for Sourcing Applications: "Sourcing technology plays a key role in enabling sourcing goals like reducing cost, mitigating risk, improving resilience and fostering innovation. Procurement technology leaders can use this research to gain insight into market dynamics and representative vendors before making investment decisions."Globality_Gartner_MarketGuide

 

"Organizations are revisiting their overarching sourcing strategy and relying more heavily on technology as strategic sourcing pressure rises due to ongoing economic volatility, inflation and supply uncertainty."

 

Download the full Market Guide to discover the  recommendations from Gartner on how to identify the right Sourcing Platform for your organization:

 

  • "Select the category of sourcing solution that aligns best with the
    organization’s strategic objectives by assessing your organization’s specific needs and maturity level."

  • "Harness potential efficiencies for your procurement organization by investigating vendors’ current AI and automation capabilities, as well as their future roadmaps."

Market Guide for Sourcing Applications, By:  Kaitlynn Sommers, Lynne Phelan, 30 January 2025 

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Sourcing technology is viewed as a technology option with high return on investment and can be seen as a starting point for many procurement teams trying to secure budget for further technology investment.