LevaData, the industry-leading supply management software company that delivers an integrated artificial intelligence (AI) platform to transform direct material sourcing including cost and risk optimization, announced today that it has been recognized as a Sample Vendor for autonomous sourcing and prescriptive analytics in the Gartner Hype Cycle for Procurement and Sourcing Solutions 2022 report.
As stated by Gartner, “as sourcing and procurement organizations face pressure to deliver on cost control and collaborate better with stakeholders, investing in emerging technologies can help increase automation, collaboration and agility.”
LevaData was named under the category of autonomous sourcing. According to the report, “autonomous sourcing increases the procurement organizations’ speed and agility. Higher levels of automation will improve the efficiency and effectiveness of the sourcing process and free staff from working on non-value-added tasks. It also has the potential to optimize the supply base, and recommend supplier awards based on project specifications, internal and external constraints, and market conditions.”
In addition, Gartner mentioned LevaData under the category of prescriptive analytics. As Gartner describes, “prescriptive analytics is critical to making data-driven, fact-based decisions. It generates actionable recommendations while taking into account procurement constraints and costs. Through prescriptive analytics, an organization can find strategies to meet its objectives by balancing trade-offs among conflicting goals.”
“We are thrilled to be recognized amongst both the autonomous sourcing and prescriptive analytics vendors in the latest Gartner Hype Cycle for Procurement and Sourcing Solutions report,” said Rajesh Kalidindi, CEO and founder of LevaData. “At LevaData, we are powering the smartest supply chains in the world. Our artificial intelligence-fueled technology allows companies to have unmatched supply chain cost and risk insights. Considering the volatility in today’s market, having the ability to autonomously find viable sourcing options gives companies a huge competitive edge in the market.”
