Today, Spend Matters, a global content community and hub for procurement, finance, treasury, and supply chain professionals, announced its 2021 “50 to Watch” list. Each year, the “50 to Watch” list recognizes fast-rising companies in the procurement and supply chain markets.

The “50 to Watch” list features solution providers who continue to grow and develop innovative products that propel the market forward. Vendors listed are independently selected by the analyst team after multiple rounds of debate, focusing on factors such as growth, innovation, tech capabilities, and solution delivery.

“Never has procurement technology been more front of mind for businesses,” said Nick Heinzmann, senior analyst team lead for Spend Matters. “With companies heavily scrutinizing their supply chains and bottom lines to protect against volatility, the procurement technology space has in 2021 gained only greater notoriety—from customers and investors alike.”

This is SourceDay’s second listing in Spend Matters’ “50 to Watch” list, following the company’s recognition in the 2020 list. According to SourceDay CEO Tom Kieley, the follow-on recognition is a reflection of the supply chain industry’s rapid adoption of innovative procurement technologies. 

“Well before COVID exposed the archaic nature of many supply chain processes, SourceDay has been an advocate for digital transformation within the procurement organization,” Kieley said. “But as COVID exacerbated the effects of historically manual, paper-based processes across the global supply chain, we have been thrilled to witness supply chain and procurement teams throughout the world embrace data-driven and automated technology like SourceDay to transform supplier relationships, uncover new revenue streams, and build more resilient supply chains.”

Read more of SourceDay’s coverage in Spend Matters here.