The Art of Strategic Sourcing

As businesses realize the importance of right procurement, strategic sourcing is being prioritized across industry sectors. The segment is witnessing many startups entering the field and making a difference with their deep expertise in respective verticals. Given their increasing importance, we have covered this segment exclusively in this special issue. The cover story of this issue features Source2T, which is a Business Process Transformation, Automation and Digitization Company, with a specialized focus in the Procure-to-Pay segment. It was set-up initially by conceptualizing the idea in 2017, followed by detailed Designing Thinking Process to create a prototype in 2018 and then the MVP in 2019. Commercialized in 2020 and named the SaaS based product as ValProc, the firm kept enhancing the capabilities of its technologies and services to add value to clients. The startup's offerings are completely customizable as per the organization's needs and completely integrate with any existing ERP or systems tools being used by the organizations.

Also featuring in this issue is BetterSupply, whose unified e-procurement platform provides a completely digitized solution that makes purchasing a breeze, while providing full control over the company's spending. The company provides a complete procure-to-pay ecosystem that enables businesses to perform faster, smarter and economical purchasing of all workplace and industrial needs. The issue also covers Genie Bazaar, which is a reliable procurement platform that offers end-to-end digital solutions to address all needs of procurement managers and office administrators. In addition, the issue also brings to you stories on the other top startups in this domain.

After studying this market landscape in-depth, we have zeroed-in on the Top 10 startups that have excelled in this domain with their innovative approach. Having proven their dedication to efficiency in order to meet the customer expectations in an end-to-end manner, these companies have stood out from the crowd.

We look forward to receiving your feedback and suggestions.