Marks Third Consecutive Year the Company’s Technology Platform has been Honored
WESTPORT, Conn., Oct. 19, 2023 /PRNewswire/ — LogicSource, the leading provider of procurement services and technology, announced today that it has been chosen for the third consecutive year by procurement and supply chain analyst firm, Spend Matters, for its 2023 ’50 Providers to Watch’ list. The prestigious annual list recognizes the fast-rising technology providers in the procurement and supply chain market.
LogicSource was recognized for its OneMarket® platform, an integrated, services and data-enabled technology suite that enables and automates the entire Source-to-Pay (S2P) lifecycle. Built for Procurement practitioners by Procurement practitioners, OneMarket is a cost-effective, simplified set of procurement technology empowered with pre-built tools and templates, supported by market intelligence and price benchmarks and, as standard, enabled by expert resources to manage implementation and ongoing data hygiene. The combination of these capabilities into a single solution enables procurement teams to elevate their impact and visibility as true partners to business leaders.
“Being named to Spend Matters’ 50 to Watch list for a third consecutive year is an incredible recognition and a testament to the hard work and determination of our OneMarket team,” said David Pennino, Founder and CEO at LogicSource. “For more than a decade, we have been using OneMarket to service our portfolio of LogicSource clients. That means a constant pipeline of feature and usability enhancements brought to us by our Center of Excellence resources, account teams and technology customers. The result is a practitioner-driven set of capabilities rooted in the reality of day-to-day procurement and a rich roadmap for the evolution of the product.”
The 50 to Watch list is made up of the innovative solution providers who continue to grow and develop products propelling the market forward. The list is prepared by Spend Matters analysts that assess the capabilities of companies across 10 procurement technology market sectors through thorough research and analysis, and reflects their unbiased, independent view of the providers.
“OneMarket, the suite provider powered by BPO firm LogicSource, completed a remarkable transformation in 2022 that put its technology offering front and center. Since then, it has focused on developing exceptional data services in its five S2P modules and has an impressive roadmap in progress,” reported the Spend Matters Analyst Team.
The announcement comes on the heels of LogicSource’s inclusion within this year’s Inc. 5000 list of fastest-growing private companies in America, recognition as Star Performer in Everest Group’s 2023 Procurement Outsourcing and Source-to-Contract PEAK Matrix Assessments, and being named one of the “Top 25 Companies of Connecticut for 2023” by The Business Report. The company also received a $180MM growth investment from FTV Capital last April, which has helped the firm aggressively grow its market footprint. For more information about LogicSource and its OneMarket platform, please visit www.logicsource.com.
About LogicSource
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.
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.
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SOURCE LogicSource