Procurement Services and Technology Provider Included for Second Consecutive Year, Earns Highest Year Over Year Growth Rate
WESTPORT, CT., October 25, 2023 – LogicSource, the leading provider of procurement services and technology, announced today that it has been named a Major Contender and a Star Performer in Everest Group’s prestigious Procurement Outsourcing (PO) Services PEAK Matrix Assessment 2023.
The assessment confirms that LogicSource strengthened its Major Contender positioning from 2022. The company improved its PEAK Matrix valuation by capitalizing on expanded PO and Source-to-Contract (S2C) capabilities. In addition, the firm was recognized as one of four Star Performers, a designation earned by organizations that ranked in the top quartile for improvement and showed measurable increases across Everest Group’s key evaluation metrics. Notably, LogicSource showed the highest year-over-year revenue growth rate of all companies featured, fueled by new partnerships with larger and midsize buyers across North America.
In a recap of strengths compiled by the report, what LogicSource does best is also what makes them different. An enhanced client lifecycle that supports downstream procurement operations helps clients ensure sustained success. Its Center of Excellence (CoE) has been lauded by clients as a key strength, noting that LogicSource’s 150+ category-focused experts add unique value for strategic sourcing, category management, analytics, benchmarking, and contacting support.
Other strengths identified in the report represent an increasingly diversified approach at LogicSource. Significant investment in the company’s OneMarket technology earned their 5-module suite a “best-in-class” distinction among clients. And its expansion into a wider variety of industries like retail, financial services, and consumer packaged goods reached a new height in 2023 with penetration into the healthcare sector. By curating an approach that serves the needs of healthcare’s unique non-clinical category requirements, they are addressing a historically underserved function that bodes well for future growth.
“Its category-specific CoE model to offer Source-to-Contract services, significant enhancement of its OneMarket platform comprising of various modules for sourcing, contracting, performance management, analytics-based insights, and downstream procurement operations, and high client satisfaction ratings are key factors that contributed to its recognition as a Star Performer.”
The report examines 23 PO service providers and 21 S2C service providers, evaluating their Market Impact and Vision & Capability using the proprietary framework of the Everest Group PEAK Matrix.