Esker, a global cloud platform and leader in AI-driven process automation solutions for Finance, Procurement and Customer Service functions, announced that it has been recognized in the first-ever Gartner Magic Quadrant for Source-to-Pay Suites.
While procure-to-pay starts with the requisition of a purchase, source-to-pay (S2P) initiates the actual sourcing of goods. This process covers every step, starting with spend management, strategic sourcing and supplier management, through to purchasing, performance management and accounts payable. S2P solutions bring strategic sourcing into the mix, opening up new opportunities for maximizing efficiency, lowering costs and building stronger, more beneficial relationships with suppliers.
“Procurement needs to be viewed as central to a company’s sustainability strategy, as it can also reinforce strategic value by driving operational efficiencies and cost containment,” said Jean-Michel Bérard, CEO at Esker. “It was only logical that Gartner would expand its MQ standards to include sourcing, and we are very elated that we once again earned a spot in it.”
“After three consecutive years in the Gartner Magic Quadrant for Procure-to-Pay Suites, we are honored to be recognized in the inaugural Source-to-Pay Magic Quadrant, just one year after having entered the sourcing market with Market Dojo,” said Catherine Dupuy-Holdich, S2P Product Manager at Esker. “We believe our inclusion is a significant acknowledgement and a confirmation of our dedication and expertise in the industry.”
Esker’s Source-to-Pay suite is designed to help Procurement and Finance leaders achieve their goals by removing departmental siloes, streamlining procurement processes, improving enforcement of policy compliance, and enhancing supplier management with visibility over the entire buying process. By aligning procurement and finance, Esker helps CFOs and CPOs achieve better financial outcomes and foster collaboration across all operations.
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Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of the providers in markets where growth is high and provider differentiation is distinct.
Gartner, Magic Quadrant for Procure-to-Pay Suites, by Micky Keck, Balaji Abbabatulla, Patrick Connaughton, Lynne Phelan, published November 28, 2022.
Gartner, Magic Quadrant for Source-to-Pay Suites, by Micky Keck, Naveen Mahendra, Kaitlynn Sommers, Lynne Phelan, Cian Curtin, Balaji Abbabatulla, Chaithanya Paradarami, published January 29, 2024.
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SOURCE: BusinessWire
