target audience: TECH BUYER Publication date: Nov 2023 - Document type: IDC MarketScape - Doc Document number: # US51215923
IDC MarketScape: Worldwide SaaS and Cloud-Enabled Sourcing Applications 2023 Vendor Assessment
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Abstract
This IDC study provides an assessment of SaaS and cloud-enabled sourcing applications and discusses what criteria are most important for companies to consider when selecting a system. Entities considering buying a procurement application solution have the challenging task of selecting among many attractive options, as highlighted in this study. Whatever attributes are most important to companies looking to buy solutions — full suite versus best of breed, full or piecemeal implementation, regional or global rollout, the level of need for advanced and complex solutions, ease of implementation and integration, and the level of ongoing support required — ultimately, they seek value in their quest to effectively manage their spend and suppliers. This study highlights the attributes and benefits that buyers can expect to receive when engaging the vendors profiled in this study.
"Sourcing applications have mirrored the other functions inherent to procurement applications in their application of technology to advance the utility and capabilities of the sourcing functions. Predictive analytics, autonomous sourcing, improved supplier collaboration, and improved transparency are all serving to improve the function to drive improved operation efficiency, cost savings, and increased resiliency." — Patrick Reymann, research director, Procurement and Enterprise Applications at IDC