Spend Matters is delighted to announce the 2022 edition of the “50 Procurement Providers to Know” and “50 Procurement Providers to Watch” lists, released at the SIG Global Executive Summit on October 17. For the 9th consecutive year, our analysts debated intensely to determine which companies in 10 sectors of the supply technology market deserve particular attention as best-in-class or in the making. “50 Sourcing Vendors To Know” lists companies we believe are setting the industry standard, while “50 Sourcing Vendors To Watch” have innovative products or ideas that could propel the market as as the business grows.
Every year, certain companies, which are worth watching, become companies that CPOs need to know. This year, our analysts agreed that four companies had proven their potential to be considered the best vendors to know: AvidXchange, Everstream Analytics, Simfoni and Vertex. Because of the work that this achievement represents, we interviewed each supplier to find out what strategies or product improvements they have implemented over the past year and what their ambitions are for the future.
In this article, we talk with Julie Gerdeman, CEO of Everstream Analytics, a risk analytics provider that offers logistics risk management, predictive insights, and weather forecasting capabilities.
In the decision-making process, our analysts agreed:
“Everstream Analytics’ combination of comprehensive supply chain risk management applications/services is powerfully combined with its in-depth supply chain control tower and is optimized around risk and logistics, as well as its deep supply network monitoring and AI/ML predictive analytics. Additionally, its understanding and correlation of weather patterns with risk is a differentiator.”
Over the past 12 months, what do you think Everstream Analytics has accomplished to stand out to our analysts and make this transition?
In recent years, erratic weather, pandemics and geopolitical tensions have increased the pace and intensity of disruptions and exposed the fragility of our global value chain. In response, companies are turning to proactive supply chain risk management. For more than a decade, we’ve used big data, advanced artificial intelligence, and human intelligence to help our clients discover and mitigate risk. This year, we solved one of the toughest challenges in supply chain visibility: automated multi-level mapping. Traditionally, companies had to rely on slow, manual surveys to see beyond Tier 1. Our data scientists pioneered a solution that automatically maps supply chains to Tier n and applies our monitoring real-time and our predictive information to identify and mitigate commodity risks through product delivery.
What do you think is the biggest secret to your success since Spend Matters first named you a Supplier to Watch?
We can attribute this recognition to the value our customers derive from our knowledge. We are focused on providing accurate, relevant and actionable analytics when and where supply chain decisions are made. We reduce the noise of traditional risk information by delivering relevant analytics to our customers, and we integrate our data into their existing supply chain systems. While many of our competitors are still collecting data through surveys, we have proven that the right combination of big data, graphical databases and artificial intelligence can do the hard work of identifying suppliers at many levels with great less effort and better reliability.
What are your ambitions for new successes in the future?
We develop our technology to enable self-healing supply chains. We are on this journey with our customers to move from predictive information to prescriptive information and ultimately supply chain hyper-automation. Soon, we will launch our enhanced risk feed to foster collaborative information sharing and automate action plans between internal and external stakeholders. We are also adding advanced scenario planning to model the potential impact of an incident on assets, pathways, shipments, materials and products within a defined area. We will continue to expand our use of AI to create personalized recommendations to mitigate or avoid risk, increase efficiency, improve ESG performance and save money.
What does it mean for Everstream Analytics to become a vendor to know in 2022?
We are truly honored by this recognition. Receiving such attention from Spend Matters signals the positive impact we are having in the supply chain risk space.
Spend Matters looks forward to following Everstream on its journey forward.
Read our risk provider profiles including Evertream Analytics here (PRO subscription required)
If you would like to be considered by the Spend Matters analyst team for next year’s listings, procurement technology vendors can create a free listing in Spend Matters Almanac, the world’s leading technology and services directory. most comprehensive sourcing and supply chain solutions provider.
If you want to learn more about the methodology and process for selecting the 50 vendors to watch and know from our analysts, join our online seminar October 31.
And if you are considering buying a supply technology, try looking at Spend Matters TechMatch℠ for a quick pre-selection and free buyer’s guide Resources.