Upcoming ISG Provider Lens study evaluates how procurement providers enable organizations to respond to ongoing disruptions
Information Services Group (ISG) a leading global technology research and advisory firm, has launched a research study examining providers of procurement services and software platforms for organizations challenged by pandemic-driven supply chain turmoil.
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“By blending automation and AI, including GenAI, businesses can navigate supply chain disruptions, foster transparency and feed continuous improvement and adaptability.”
The study results will be published in two comprehensive ISG Provider Lens reports. The first, Procurement Services, will cover services for procurement operations modernization, strategic sourcing and category management, and direct procurement enablement and modernization. The second report will focus on Procurement Software Platforms. Both reports are scheduled to be released in March 2024.
Enterprise buyers will be able to use information from the reports to evaluate their current vendor relationships, potential new engagements and available offerings, while ISG advisors use the information to recommend providers to the firm’s buy-side clients.
Pandemic-driven supply chain disruptions have prompted a global focus on diversifying and localizing suppliers to mitigate risk while simplifying procurement overall. Sustainability and social responsibility are shaping supplier selection and supply chain transparency. Modern procurement software immediately enhances operational efficiency, fosters business agility, diminishes the negative impacts of supply chain disruption and reduces operating costs.
“Modern procurement services and software platforms are key to overcoming supply chain challenges, enhancing efficiency and driving strategic growth in an evolving business landscape,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “By blending automation and AI, including GenAI, businesses can navigate supply chain disruptions, foster transparency and feed continuous improvement and adaptability.”
ISG has distributed surveys to about 40 procurement service providers. Working in collaboration with ISG’s global advisors, the research team will produce three quadrants representing the procurement services the typical enterprise is buying, based on ISG’s experience working with its clients. The three quadrants are:
- Procurement Operations Modernization Services, evaluating providers integrating advanced Business Process Optimization (BPO) with strategy, operations and technology transformation services to enable procurement modernization, including AI-enhanced process optimization, big data-enabled predictive analytics and blockchain.
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- Strategic Outsourcing and Category Management Services, covering providers offering services such as agile and autonomous sourcing capabilities, spend management and continuous market intelligence with AI-driven predictive analytics and other services to improve goods and services acquisition, drive cost savings and improve performance.
- Direct Procurement Enablement and Modernization Services, evaluating providers offering services including sourcing and contract management, production and inventory optimization and supplier relationship management to deliver cost efficiency, supply chain resilience and improved supplier relationships.
Additionally, ISG has distributed surveys to about 40 procurement software platform providers. The research team will produce one quadrant:
- Procurement Software Platforms, covering procurement platforms that draw on extensive organization and management knowledge, including procurement, finance, supply chain, production and all linked operations, to continually integrate new and emerging digital technologies with strategic insight and creative, AI-enabled problem-solving skills.
The reports will cover the global market for services and software platforms, respectively. ISG analyst Bruce Guptill will serve as the author of both reports.
A list of identified providers and vendors and further details on each study are available in these digital brochures: Procurement Services and Procurement Software Platforms. Companies not listed as procurement providers can contact ISG and ask to be included in the study.
All 2024 ISG Provider Lens evaluations feature new and expanded customer experience (CX) data that measures actual enterprise experience with specific provider services and solutions, based on ISG’s continuous CX research. Enterprise customers wishing to share their experience about a specific provider or vendor are encouraged to register here to receive a personalized survey URL. Participants will receive a copy of this report in return for their feedback.
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