Spend Matters Names ProcureWise + Ceipal to the Fourth Annual “Future 5” List of Procurement Technology Providers
ROCHESTER, NY — October 17, 2022 — Macro forces and shifting competitive dynamics are breathing new life into the procurement technology market — and some providers will ride the new wave better than others. From a volatile economic environment to evolving regulatory frameworks, procurement is overwhelmed with issues it must keep on top of while delivering on its current portfolio of initiatives. In this context, more vendors than ever are developing new concepts or stepping across the boundaries of adjacent markets.
To help make sense of what’s “real” and more accurately predict how the next phase of this space will unfold, Spend Matters releases their annual “50 Providers to Know,” “50 Providers to Watch,” and “Future 5” listees, sourced and calculated by the entire Spend Matters analyst team to represent the best of the technology providers that serve procurement, finance, and supply chain organizations.
ProcureWise, a Ceipal VMS platform, is honored to be recognized on the “Future 5” list this year. As the fourth annual list release, the 2022 nominees were thoroughly reviewed by Spend Matters analysts. The list is comprised of the other most impressive procurement technology startups that meet the following criteria:
- Is less than 5 years old, ideally with less than 2 years in the market (official product launch)
- Has an innovative, interesting application of technology
- Maintains clear momentum and sustainability
- Has less than $10 million in revenue
“ProcureWise is an AI-powered Unified Total Talent platform that offers traditional VMS capabilities while also being seamlessly connected to its recruiting software, Ceipal.” says Nick Heinzmann, VP of Research at Spend Matters. “The unique combination of recruiting software that covers all types of hiring — from internal to external and extended workers — puts this untraditional VMS in the growing market of software providers that offer solutions for a company’s end-to-end hiring needs in a single technology (Unified Total Talent).”
In a market ripe with consolidation plays, plenty of new startups, and big entrances from established (non-procurement) players, Spend Matters provides an honest, data-based guide to help determine where the future of the industry lies. The full “Future 5” list can be viewed here.
ProcureWise, a next-generation VMS platform by Ceipal, was created as a single solution to source, manage, and engage contingent staffing, direct sourcing, and statement of work vendors and workers, enabling businesses to identify top-tier talent and avoid making costly hiring decisions. ProcureWise’s VMS solution offers unmatched capabilities and unsurpassed value to corporate procurement and HR teams and managed service providers through a unified total talent platform.
Ceipal is an AI-powered SaaS platform that provides full-lifecycle management of the talent acquisition process. Our system leverages advanced technology to analyze vast amounts of candidate and employee data, providing actionable insights for meeting hiring goals and executing talent strategies. With robust solutions for pipeline curation, candidate engagement & marketing, applicant tracking, and workforce management, Ceipal helps staffing firms, MSPs, and corporate hiring teams of all sizes to attract and retain the best available talent. Ceipal was founded in 2015 and served 2,000+ customers and 120,000 recruiters globally.
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.