Ivoflow, a procurement intelligence platform empowering strategic procurement in global manufacturing companies, has been selected for Spend Matters' prestigious "Future 5" list. This list highlights five innovative procurement technology startups based on thorough research of emerging procurement tech solutions. Ivoflow, which applied for the first time during this fall cycle, was not only featured on the Spend Matters Solution Map but also recognized as one of the most impressive procurement tech startups of the year. The platform provides full transparency, identifies cost-saving opportunities, and offers continuous insights into evolving market dynamics.
„ivoflow stands out for its focus on actionable insights and cost savings initiatives for direct spend management, rather than just conducting static spend analysis. In addition, it allows customers to effectively manage initiatives to ensure that identified opportunities are realized and hit the bottom line,” said Abigail Ommen , Research Analyst & Production Manager.
2024 marks the Sixth annual release of the Spend Matters ‘Future 5’ list. Throughout the year, the Spend Matters analysts scour the market to find and scrutinize procurement tech newcomers. This list is composed of the most impressive procurement technology start-ups that meet our criteria:
Is less than 5 years old, ideally with less than 2 years in the market Has 5+ customers Has an innovative, interesting application of technology Maintains clear momentum and sustainability Has less than $10 million in revenue According to Nikhil Gaur , Director, Strategic Projects & Research Analyst, Spend Matters, due to the emergence of new procurement software and services offerings, the decisions on who make the lists are only getting tougher. “We hope that the annual releases of our 50/50 lists, complemented by the Future 5 (now in its sixth year) and the inaugural Spend Matters Hall of Fame, continue to inspire debate about future technology investments, and we look forward to continuing to release these lists over the years.”
For Ivoflow, the recognition is a significant honor. Nicolas Neubauer, Co-Founder of Ivoflow, expressed his pride:
"We are extremely proud to have been named a Future 5 company, especially in our first application for the Solution Map. We are eager to prove our value in the procuretech space in the next cycle and aim to make it onto the '50 Providers to Watch' list."
More information: https://spendmatters.com/procurement-tech-recognition/
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