Procurement
Scoutbee Recognized as one of Spend Matters’ 2023 “50 Providers to Know”
Scoutbee is one of only three organizations that moved up from “50 Providers to Watch” to “50 Providers to Know” in this year’s list
BERLIN and ATLANTA – October 17, 2023 – Scoutbee, a leading AI-powered supplier intelligence and discovery platform, today announces that Spend Matters has recognized the company in its annual “50 Providers to Know” list. Scoutbee is one of only three organizations to have progressed from the “50 Providers to Watch” list from the previous year.
“Our recognition by Spend Matters as a first-class provider is evidence of artificial intelligence’s lasting impact on procurement and a testament to our innovative approach to both Large Language Models (LLMs) and generative AI. Having access to data is crucial for procurement professionals in order to make strategic and cost-effective decisions, while also driving process excellence.
We’ve been working with LLMs as part of our AI toolkit in the background for the last three years - before anyone else in the industry. Our data team runs generative AI models on our own infrastructure and isolates our customers from one another, thus keeping their data safe while connecting it to the LLM. By doing so, we can deliver holistic supplier visibility that helps procurement make confident supplier decisions, drive cross-functional efficiency, and optimize their existing technology investments."
Scoutbee’s unique, AI-led approach has recently led to an extended partnership with SAP. The partnership involves the integration of Scoutbee’s Discovery solution with the SAP Ariba Sourcing solution, which is planned for the first quarter of 2024. With the integration, companies running a sourcing event in SAP Ariba Sourcing will instantly be able to pull in new suppliers from Scoutbee that meet key sustainability, diversity, cost, and risk criteria and add those suppliers directly into the sourcing event, all without having to leave the event screen.
Scoutbee Discovery complements the SAP Business Network Discovery solution’s capabilities to help sourcing professionals quickly find new suppliers that are aligned with their requirements but are outside their network.
Spend Matters’ “50 Providers to Know” list recognizes the best-in-class companies in the procurement and supply chain market. These are organizations that lead the charge on new procurement technologies and services, setting the industry standard. Vendors listed are independently selected by the analyst team over multiple rounds of debate, focusing on factors such as innovation, market presence, tech competency, and solution delivery.
“Scoutbee is an AI-first SxM solution that focuses on supplier intelligence. It is built around three pillars: data, (supplier) profiles, and search. It offers customers the possibility to have better information on the suppliers they work with and to discover new potential ones without the hassle of manual entries. Last but not least, it has been using some of generative AI's building blocks (LLMs and knowledge graphs) before generative AI was a thing.”
About Scoutbee – Better Data. Better Decisions. Better World.
Scoutbee drives better business outcomes by giving companies the actionable insights they need to perfect the supply base and advance strategic initiatives, such as risk management, ESG, and innovation. The Scoutbee Intelligence Platform (SIP) uses graph technology and predictive and prescriptive analytics to deliver holistic supplier visibility that helps procurement make confident supplier decisions, drive cross-functional efficiency, and optimize their existing technology investments. Scoutbee’s AI-powered data foundation connects teams to any data point – internal, external, third-party, and more – and any data combination necessary to orchestrate a resilient, competitive, and sustainable supply base.
Scoutbee is a global company with employees from 20+ countries. Learn more at scoutbee.com, and follow us on LinkedIn, Twitterand Youtube.
Media Contacts
Elle Lynott (U.S.)
Corporate Ink for Scoutbee
+1 617.969.9192
Val De Oliveira (Europe)
Scoutbee
+49 160 1406520
About Spend Matters
Spend Matters is the leading solution intelligence source for procurement and supply chain professionals. Combining deep technology analysis and tailored advisory services with daily news coverage and subscription research, Spend Matters is trusted by CPOs, consultants, investors and solution providers alike as their procurement technology intelligence partner.