Top 10 interesting procurement trends and startups

The startup ecosystem has set in motion several exciting trends in the supply chain and procurement space in the last few years. All thanks to the innovative solutions these companies are offering, business models in the industry are undergoing a smart transformation. 

A wide range of new themes are increasingly emerging in the market today, and their adoption is undoubtedly going to increase in the years ahead.

Let’s look at some of the exciting startups that are setting  new trends in the supply chain and procurement industry:
  1. Negotiatus – Cloud-based spend & procurement management solution

Founded in 2014, US-based startup Negotiatus offers a cloud-based platform that allows shippers to manage procurement and related expenses. The system facilitates the integration of all the vendors/suppliers on a single platform. It enables enterprises to procure goods via a cart system. 

The startup has also developed solutions that provide functionalities such as real-time tracking of deliveries, visibility on expenses in real-time, big data analytics, digitised approvals & budgeting, consolidated invoicing, etc. 

  1. BravoSolution – Software solutions and consulting services provider for Supply Chain Management

Italy based BravoSolutions offers a software solution along with consulting services for Supply Chain Management. Founded in the year 2000, the startup specialises in the areas of sourcing, spend management, supplier performance and contract management, etc. 

BravoSolutions has its presence in the United Kingdom, South America, Mexico, Italy, Benelux, the United States, the United Arab Emirates, France, Germany, Spain, and China. The startup recorded revenue of  €71M in 2014 and has been proliferating over the years. 

  1. SourceDay – Cloud-based ERP supply chain portal

SourceDay is a US-based startup founded in 2013 that provides a cloud-based ERP supply chain portal. The solution allows you to automate communication between buyers and suppliers involved in your supply chain network and integrates with any ERP system. 

The result? Your entire organisation has access to accurate data about supplier pricing, the number of goods, lead times and delivery dates in real-time. This helps ensure a well-integrated supply chain and enables your team to build a strong business via the ability to make informed, data-driven decisions.

  1. BuyerQuest – Procure-to-Pay Automation

Yet another US-based startup BuyerQuest offers enterprise procurement solutions such as eProcurement systems. Founded in 2011, the startup provides three packages of spend management solutions, namely Marketplace, eProcurement and Procure-to-Pay.

Some of their offerings include request processing, automated approvals, cataloguing, and e-invoicing. The startup has managed to secure some big clients such as  Steelcase, Saudi Aramco, McDonald’s, and The Home Depot. 

  1. GlobalServe – solution for IT asset lifecycle management

GlobalServe Inc offers IT equipment supply chain services solutions to meet requirements concerning procurement and deployment. Its solution OneSource Procurement Engine provides a single point of contact for multiple processes such as purchasing, distributing, and managing global IT investments of a company.

Their other services include software development services, such as search engine optimisation, mobile, web and e-commerce application development, Web hosting, firmware development, various simulation programs development, satellite communication application development, etc. The company caters to companies in industries like oil and gas, manufacturing, consumer products, technology, etc.

  1. Qmerit – Cloud and AI-based market platform for materials procurement

Qmerit, a startup founded in 2015, provides a cloud and AI-based market platform that enables efficient and smart material procurement. The platform offers a series of innovative features such as supplier performance assessment, supplier management, supply chain visibility, procedural compliance, scope to search for and procure parts and materials for businesses, with the help of its matching tool. Some of Qmerit’s clients are BMW, Schneider Electric, Jaguar and Unified Energy.

  1. Onventis – Cloud-based source to pay software solution

Germany-based Ovnetis provides cloud-based software that enables e-procurement. Its flagship product named TradeCore is a cloud platform meant for digitising the complete procurement process. 

The other solutions include TradeCore Buyer meant for sourcing, order management and data analytics integrated with supplier management; TradeCore Vendor meant for order management, catalogue management, data analytics for vendors; TradeCore Provider meant for collaborative commerce and TradeCore Smart Connect which is a platform built for mobile e-procurement. 

  1. Mtivity – Marketing supply chain management platform

Mtivity a UK-based SaaS platform is designed to help service providers and marketers to optimise various processes from origin to fulfilment. 

Meant for complete management of marketing supply chain, their modules include marketing operation management, procurement management, etc. The solutions offer features such as campaign planning and budgeting, creative and digital asset management, supply chain management and more. 

  1. Medius – Cloud-based AP invoice automation solution

Founded in 2001, Sweden based Medius offers cloud-based AP invoice automation tools. The solutions are mainly developed for the retail, manufacturing and service industry. 

Their products range includes MediusFlow Invoice, an AP invoice automation software; MediusFlow Match, an invoice matching solution; MediusFlow Procurement, a procurement process solution; and MediusFlow Contract, a supplier contract lifecycle management solution. 

  1. GoComet – Cloud-based Logistics Resource Management platform

GoComet is an all in one solution for Logistics Resource Management. The platform offers a range of innovative solutions that automate RFQ management, real-time shipment tracking and invoice reconciliation. 

The solutions help companies streamline their supply chain network, drive process efficiency and significant cost savings. The platform also provides in-depth data analytics and instant actionable insights. 

Adopt smart solutions for a more intelligent business

The supply chain industry is most certainly one of the fastest growing and evolving industries today. To keep pace with changing market trends and have the edge over your competitors, you must grow your business along with the industry by adopting the right systems. 

If you would like to know how GoComet can help you build an agile, cost-effective and resilient supply chain, reach out to us here today!