LogicSource Named ‘IDC Innovator’ for its OneMarket Technology by Leading Analyst Firm International Data Corporation
NORWALK, CT – LogicSource, the leading provider of procurement services and technology solutions, today announced it has been named an “IDC Innovator” by the premier global analyst firm, International Data Corporation (IDC), in its 2023 Procurement and Supply Chain report. IDC’s research profiles five procurement and supply chain vendors that have developed impactful solutions that leverage leading-edge technologies to provide significant value for buyers seeking procurement and supply chain solutions.
LogicSource was featured for its OneMarket® technology suite, a services and data-enabled platform automating the Source-to-Pay procurement lifecycle, empowered with pre-built tools and templates, and fueled with over $65 billion in cross-portfolio spending market intelligence and price benchmarks. Designed by practitioners for practitioners, OneMarket offers industry-leading procurement automation and value realization in one integrated platform for the world’s most recognizable brands.
“This is a great time to be a buyer of procurement and supply chain applications. New products are continually being introduced, and established providers are investing heavily in innovation,” said Patrick Reymann, research director, Enterprise and Procurement Applications at IDC. “The themes that we see are ease of use, an enhanced user experience, automation, and AI-driven decision-making tools. The vendors that we profile in this report are tremendous examples of what is possible with today’s SaaS solutions.”
OneMarket’s solutions empower users across all phases of the sourcing lifecycle, with modules spanning spend analytics, sourcing execution, contracts management, sourcing performance management, and procure-to-pay in a single platform. Taken together, OneMarket provides a straightforward formula for procurement leaders and their teams to elevate their performance and drive greater enterprise value with business stakeholders.
IDC Innovator reports present a set of vendors chosen by an IDC analyst within a specific market offering innovative new technology, a groundbreaking approach to an existing issue, or an interesting new business model. The 2023 Procurement and Supply Chain report profiles vendors that are leveraging advanced analytics and cloud technology, and are uniquely focused on a clean, transparent, and intuitive user experience to augment procurement and supply chain operations.
This recognition comes on the heels of OneMarket’s inclusion on Spend Matters’ “50 Providers to Watch” list for the second consecutive year, and its recent platform enhancements, which include a redesigned and fully-integrated user experience across its modules, fueled by continuous feedback from expert practitioners, client stakeholders, and supplier partners.
For more information about LogicSource and its OneMarket platform, please visit www.logicsource.com.
Click here to download the full report to learn more about this achievement.
The innovative leader in procurement services and technology, LogicSource is purpose-built to drive profit improvement, mitigate risk, and ensure supply chain continuity through better buying. LogicSource focuses exclusively on the sourcing and procurement of indirect goods and services, which typically represent 20% of an organization’s revenue and the area of greatest spending inefficiency. These include complex categories like marketing, packaging, corporate services, facilities, information technology, distribution and logistics and more, for which organizations often lack the capacity, focus and scale to achieve best-in-class buying. Unlike traditional advice-based consultants, LogicSource is a purpose-built buying utility with assets that are configurable to their clients’ needs and ready to deploy. By combining decades of sourcing and procurement expertise, superior market intelligence, cross-portfolio spending leverage, and their OneMarket® Source-to-Pay technology, LogicSource executes customized solutions that deliver immediate savings and sustainable value. For more information visit www.logicsource.com.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC’s analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world’s leading tech media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.