Procurement professionals spend hours, sometimes even weeks, sifting through web searches and gathering data.

They’re on the hunt for suppliers who are reliable, compliant, and a good fit for their needs.

But let’s face it: this traditional, manual approach can be slow, frustrating, and often lacks the depth of information you need.

So, how can you make it faster and more efficient?

The answer lies in using tech-based sourcing solutions that do the heavy lifting for you.

We’ve compiled a list of nine strategic sourcing providers to help you move away from manual supplier searches and transform your process into a more strategic, data-driven approach.

Veridion

Let’s begin with Veridion, not just because it’s our own system but because it offers a level of supplier data reach that few others can match.

Source: Veridion on YouTube

Veridion data service leverages proprietary machine learning (ML) and artificial intelligence (AI) algorithms to scrape the internet and provide near real-time insights on suppliers across a range of industries.

And so do many other tools on this list.

But what sets Veridion apart?

Veridion has access to an extensive network of over 100 million companies across more than 240 locations, far surpassing the coverage of most other providers.

Source: Veridion

It continuously captures data from credible sources, including public registries, websites, social media, and news mentions, ensuring that supplier profiles are updated weekly.

This constant refresh keeps the data accurate, so you can quickly find niche suppliers or expand your reach globally without wasting time on manual searches.

You can search for suppliers through more than 60 data points, including locations, product specifics, various certifications, ESG criteria, and more.

Supplier search can be done through our supplier discovery platform or through search APIs that easily integrate with your other systems.

Source: Veridion

In any case, Veridion will deliver a list of potential candidates in seconds.

From there, you can refine your search based on specific criteria, such as historical performance, financial stability, or compliance with sustainability commitments.

Sustainability is a growing concern in procurement, and sourcing ethically and responsibly is more important than ever.

Veridion makes it easier to filter suppliers based on their environmental, social, and governance (ESG) policies.

This means you can prioritize suppliers who align with your sustainability goals, making your sourcing decisions not just strategic but also responsible.

Source: Veridion

On top of all that, Veridion allows you to enrich your existing supplier profiles with the latest data, and this way, you can manage supplier risks.

Simply put, Veridion is unmatched in how many supplier data records it holds and the breadth of its global coverage.

It’s the perfect tool for businesses that want to take their procurement to a global level or those looking to ensure that the suppliers they work with are always the best option available.

Strategic sourcing is all about making smart, informed choices—and Veridion helps you do just that.

Zycus

Zycus is a source-to-pay platform that leverages Generative AI to deliver unmatched speed and efficiency in procurement processes.

Its platform, Merlin for eProcurement, automates and simplifies every step, with a standout feature called Quick Sourcing.

Quick Sourcing turns purchase requisitions into sourcing events with a single click, automatically adding suppliers, extracting quotes, and comparing bids.

Source: Zycus

This streamlines supplier selection and shortens procurement cycles.

For more complex, large-scale sourcing events, Zycus provides iLogix, which supports the creation of detailed bids, bid optimization scenarios, and ‘what if?’ analyses.

Another essential part of Zycus’ offering is the Zycus Supplier Network (ZSN), a GenAI-powered portal that delivers real-time updates on supplier profiles, purchase orders, and invoices.

This helps procurement teams stay on top of supplier information and assess risks quickly.

Zycus also offers GenAI-powered procurement apps that tackle various sourcing challenges.

Source: Zycus

Contact Check Genie app, for example, ensures that supplier databases stay accurate by flagging inconsistencies.

The platform also enhances collaboration through its eSourcing feature, which centralizes communication, allowing teams to coordinate strategies and make decisions more efficiently.

However, some users note that while Zycus simplifies company procurement, onboarding can be cumbersome for suppliers due to extensive checks.

Overall, Zycus offers a powerful, AI-driven approach to make procurement faster and smarter and its Quick Sourcing feature can definitely make sourcing more strategic.

Scoutbee

Scoutbee is an AI-powered supplier discovery suite that enhances sourcing processes for major companies like Audi, Airbus, and Unilever.

The platform offers two primary solutions:

• Discovery
• and Discovery Gen AI.

Scoutbee Discovery streamlines supplier searches with automated capabilities and provides unbiased, up-to-date results.

This solution consolidates supplier profiles within a single tool, removing the need to sift through multiple data sources.

With an open multilingual search function, it extends your reach to a broader pool of potential suppliers using advanced machine learning algorithms and AI-driven analysis.

When you input search criteria—such as product or service type, region, capabilities, and technology—you receive comprehensive supplier information, including:

• Supplier overview with descriptions, employee counts, and geographical reach.
• Financial information through NAICS codes, revenue figures, and entity types.
• Contact details, key personnel and supplier websites.
• Various certifications (for example, ISO).

Scoutbee’s custom plug-and-play framework allows you to integrate third-party data related to risk, ESG, and diversity.

Source: Scoutbee

You can also create comparison tables to visualize how new suppliers stack up against your existing ones based on attributes like revenue, capabilities, and sustainability.

Source: Scoutbee

On the other hand, with Discovery Gen AI, you can initiate conversations about specific products or services.

Source: Scoutbee

The AI compiles and refines search criteria, and allows you to rate and adjust these parameters for better search relevance.

Notably, Scoutbee Discovery has been recognized as an SAP Endorsed App, making it available for purchase on the SAP® Store.

Craft

Craft is a supply chain resilience company, offering a comprehensive platform that helps businesses anticipate and mitigate supply chain risks.

Their platform allows for 360-degree visibility into supplier networks, enabling procurement teams to quickly evaluate and monitor suppliers across over 500 data points, including ESG ratings, financial stability, regulatory compliance, and cybersecurity metrics.

Source: Craft

Craft sources supplier information from leading industry partners, proprietary machine learning, and your company’s data.

With Craft’s basic supplier search, users can quickly access vital company information, including:

• company overview and type,
• international financials,
• when it was founded,
• cybersecurity rating,
• operating metrics,
• competitors,
• HQ location,
• ESG rating,
• locations,
• website.

Below is a small part of the company profile for Philip Morris International with some of these data points:

Source: Craft

While this basic supplier information is available for free, Craft also offers in-depth insights for a fee.

For example, the ESG in-depth insights include:

• ESG scores and subscores
• Regulatory and legal issues
• Diversity Certifications
• UFLPA alerts
• Court cases
• Sanctions

One of Craft’s notable tools, Craft Compare, allows users to search for specific suppliers and generates a list of similar alternatives.

This speeds up the supplier discovery process by providing relevant suggestions and enabling side-by-side comparisons of suppliers across crucial metrics like financials, operations, compliance, and ESG ratings.

Source: Craft

As a risk management solution, Craft also provides real-time alerts about any supplier risks, making it a valuable tool for third-party risk management and monitoring.

DeepStream

DeepStream is eSourcing procurement software that integrates supplier discovery within its broader procurement management suite.

Powered by DeepAI, DeepStream’s discovery tool allows users to search for suppliers based on criteria such as location, product specifications, or even by similarity to existing suppliers.

Source: DeepStream

You simply enter your requirements, and within minutes, the system generates a list of suppliers that match your needs.

Source: DeepStream

Once potential suppliers are identified, DeepStream’s RFx management features enable you to send requests for quotes or proposals, and the platform’s evaluation tools then aggregate responses into intuitive scorecards.

This makes the entire supplier sourcing process faster and more transparent.

However, from DeepStream’s website, it’s not really clear whether they source suppliers only from their Network, which consists of buyers and suppliers who have signed up on the platform, including those invited by other users, or they leverage other sources as well.

Despite this, clients appreciate DeepStream for its straightforward interface and efficient tools, making it another practical choice for streamlined supplier discovery and procurement management.

ProcurEngine

ProcurEngine is a provider primarily recognized for its robust e-auction and e-negotiation capabilities.

However, it goes beyond these features by offering a full suite of procurement tools that encompass RFx, supplier lifecycle management, contract management, and spend analytics.

When it comes to supplier discovery, ProcurEngine operates on what they term a “Close-Fit Approach.”

When you outline your requirements, ProcurEngine leverages its extensive network to find suppliers that meet your exact specifications.

This ensures a better fit and delivers more precise value for your business.

Source: ProcurEngine

Moreover, ProcurEngine offers the option to have suppliers pre-qualified by industry experts or third parties to ensure quality engagement.

This guarantees that suppliers meet the necessary standards before you initiate contact, reducing the risk of engaging with unsuitable partners.

The platform also facilitates supplier onboarding, with the capability to link corporate websites and integrate suppliers into your business with minimal effort.

Overall, ProcurEngine stands out by focusing not only on identifying suppliers but also on ensuring they are well-suited to your needs and capable of delivering efficiently.

Mercell

Mercell simplifies supplier discovery, particularly for public buyers, by providing access to a database of 7 million pre-qualified suppliers.

It enables users to manage tenders, procure goods and services, ensure compliance, and streamline supplier communication.

Source: Mercell

Whether you’re looking to source from local innovators or major European entities, Mercell’s expansive network helps reduce risks while opening new opportunities.

One of the key benefits of Mercell is its ability to centralize and automate the entire tender process.

You can manage everything—from creating and monitoring tenders to supplier communication and contract awards—all in one platform.

Mercell uses AI-powered tools to match tenders with relevant suppliers.

Then, the system provides real-time updates and visual dashboards to help you stay on top of your tenders, making the process faster, more efficient, and less prone to errors.

Suppliers can also easily register on the platform and join a growing network that allows them to participate in tenders and expand their business.

All in all, with Mercell’s user-friendly interface, buyers can evaluate offers, communicate with suppliers, and finalize contracts seamlessly.

Promena

Promena is an all-in-one e-sourcing and e-procurement tool that simplifies how you manage supplier relationships, bidding, and auctions.

With Promena, you can access a vast network of suppliers through its partnership with Scoutbee’s Supplier Discovery service we mentioned before.

This integration helps build supply chain resilience by allowing clients to discover suppliers across different regions and reduce the risks of depending on just one supplier or location.

Orcun Guven, Promena’s Managing Director, explains:

“Through the use of our services, clients can utilize Scoutbee’s resources and enrich their supplier database to build supply chain resilience. This includes simplifying the collection of supplier data from multiple regions, thereby eliminating the risks associated with supply chains that rely on single sources or locations.”

Promena also functions as a virtual marketplace where suppliers and buyers can interact through its Supplier Discovery feature.

Source: Promena

Buyers have the opportunity to explore products and services from numerous suppliers, while suppliers can expand their business by connecting with new buyers and submitting offers.

This digital “fair” offers a valuable opportunity for both parties to create new business opportunities and build strong, mutually beneficial relationships.

TealBook

TealBook is a Supplier Data Platform (SDP) that helps businesses collect, verify, and enhance supplier information.

It uses advanced technology to create a cloud-based layer of data that works alongside your existing procurement systems.

This means you can build your procurement processes on a solid foundation of accurate and up-to-date supplier information.

Source: TealBook on YouTube

TealBook uses machine learning and AI to automatically create and regularly update comprehensive supplier profiles.

This ensures you have access to dynamic, real-time supplier data.

When it comes to supplier sourcing, you can easily narrow your supplier searches using specific filters such as certifications and location.

Source: Software Advice

The platform features over 5 million supplier profiles, which, while fewer than some competitors, still provide a wealth of valuable information.

The supplier data you can access through TealBook includes:

• NAICS codes
• Business history
• Supplier reviews
• Geographic reach
• Supplier overviews
• Contact information
• Corporate relationships
• Security and patent information
• Ethical practices and sustainability efforts
• Diversity and industry-specific certifications

Overall, TealBook is an excellent choice for businesses looking to maintain clean and reliable supplier data at all times.

It streamlines the procurement process by ensuring that you have the right information to make informed decisions.

Conclusion

Finding the right suppliers doesn’t have to be time-consuming and challenging anymore.

With the right strategic sourcing provider, you can simplify the entire process and make more informed decisions.

Whether it’s Veridion’s vast global reach and strong focus on ESG data, Zycus’s Quick Source efficiency, or ProcurEngine’s Close-Fit Approach, there’s a sourcing provider out there that fits your specific needs.

So, take a closer look at these platforms, see which aligns best with your goals, and start building a stronger, more cost-effective supply chain with only the best suppliers.

It’s possible with these sourcing providers!