Best Sourcing Software
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What is Sourcing Software?
Sourcing software is software to help companies identify, evaluate, engage, and manage suppliers and vendors—enabling strategic sourcing rather than just transactional purchasing. It supports key processes such as supplier discovery, qualification, bid/tender management (RFI/RFP/RFQ), supplier performance evaluation, and contract awarding. As the first stage of the supply chain or procurement journey, sourcing software helps organizations optimize costs, secure quality, manage risk, and build resilient supplier networks. According to industry sources, sourcing is distinct from procurement: sourcing focuses on the “who” (which suppliers) and the selection, while procurement covers the “what” (goods/services) and the purchase process. By automating and digitizing sourcing workflows, organizations gain visibility into supplier markets, spend categories, risk exposures, and opportunities for value creation. Compare and read user reviews of the best Sourcing software currently available using the table below. This list is updated regularly.
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Responsive
Responsive
Responsive (formerly RFPIO) is the global leader in strategic response management software, transforming how organizations share and exchange critical information. Our commitment to product innovation and customer success empowers companies to accelerate growth, mitigate risk and improve the employee experience by leveraging intelligent technologies to quickly and accurately manage RFPs, RFIs, security questionnaires (VSQs), due diligence questionnaires (DDQs), risk assessments and all other complex information requests (RFXs). With Responsive, frontline teams deliver superior responses by automating the completion of questionnaires, documents and spreadsheets while collaborating with stakeholders, improving processes with data insights, and quickly accessing approved content across popular business applications. -
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Team Procure
Team Procure
Team Procure is a cloud-based procurement suite that empowers businesses to manage their purchasing approvals, purchase orders, strategic sourcing, suppliers, and inventory. Conduct RFQ and E-Auction negotiations to secure the best deals with your suppliers. Generate custom reports based on department, project, or category and make data-driven decisions for your procurement strategy. Team Procure caters to both SMBs and Enterprise organizations with the ability to customize our system using powerful software modules. We offer solutions for: • Purchase Requisitions • Custom Approval Workflows • Procurement Management • Supplier Onboarding & Management • RFQs and E-Auctions • Warehouse Inventory Management For large procurement operations, we offer an enterprise-grade solution with dedicated servers. It includes advanced sourcing features, a supplier portal, ERP integrations, and premium support.Starting Price: $250/month (3 users) -
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Vendx
MavenVista Technologies Pvt. Ltd.
VENDX is a software solution that fits painlessly in your procurement organization. This tool very easily prioritizes the Negotiation and Control aspects of the purchase process while making sure that administrative tasks become easier and more thorough. It is a valuable stand-alone tool, but just as smoothly integrates with your existing software environment. You can be up and running with VENDX almost immediately since we need minimum implementation time and very minimal training for the user. Interestingly, to use VENDX your suppliers just require an email id & can start responding on Vendx from the day one most intuitively! VENDX is a full-featured procurement solution available in your browser no matter where you are! -
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Coupa
Coupa Software
Coupa’s cloud-native suite of Business Spend Management applications lets customers gain visibility and control over their spend and supply chains. Customers get an end-to-end process that helps drive collaboration across procurement, finance, treasury, compliance, and supply chain leaders to help their companies spend smarter, mitigate risk, deliver on ESG commitments, and improve resilience. A unified platform approach provides usability and flexibility, freeing up IT from customizations and complex integrations to help leaders deliver on these goals. -
5
Felix
Felix
Felix (ASX:FLX) is a cloud-based procurement platform that transforms the way asset owners, builders and managers find, manage and engage third-party vendors. Centralise and streamline Vendor Management and Source-to-Contract (S2C) processes to significantly increase productivity, manage risk and reduce spend. Connect all the right people, tools, and information you need in the one platform.
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