Executive Summary
The 2024 Strategic Sourcing Technology Advisor is designed to help sourcing and procurement leaders navigate the strategic sourcing solution provider market and select the best-fit solution(s) based upon their unique requirements and budget.
Ardent Partners’ 2024 Strategic Sourcing Rankings
Ardent Partners evaluated the market’s top strategic sourcing solution providers’ Solution Strength (the ability to support the full scope of strategic sourcing activities, as defined by Ardent Partners’ Strategic Sourcing Framework discussed below) measured along the X-axis, and Provider Strength (which includes factors such as execution ability, client success, ownership, references, and product vision) measured along the Y-axis.
The Ardent team identified the solution and market leaders in the strategic sourcing space for inclusion in this research study. The eight providers and their distinct solutions included in this report are:
- Corcentric
- Coupa
- GEP
- Ivalua
- JAGGAER
- Market Dojo
- SAP
- Workday
Participating companies were asked to complete a robust RFI questionnaire covering all aspects of their solution. Areas of focus included the four core modules of a strategic sourcing suite (see the Strategic Sourcing Framework below), general technical capabilities, reporting & analytics, and solution roadmap. Ardent Partners conducted in-depth customer interviews with each of the participating solution providers. Ardent’s analyst team also participated in detailed briefings and solution demonstrations to gain a complete company overview as well as an in-depth understanding of specific solution capabilities.
This report contains inputs on usability, solution functionality, completeness of offering, innovation, customer reviews, company presence, and ability to execute, as well as company focus and future solution strategy. Ardent Partners’ mission in delivering this Technology Advisor is to provide straightforward and useful information that can help organizations make smarter buying decisions. Questions about our methodology, analysis, and conclusions are welcomed and may be directed to Ardent’s research team here.
