MADISON HEIGHTS, MI, August 29, 2018 – Xeeva, Inc., a global provider of AI-powered source-to-pay software, announced today that it has been included as one of four solution providers in the 2018 Gartner Cool Vendors for Procure-to-Pay Applications report.
Procurement and sourcing technology providers were chosen by Gartner for this report based on their unique and innovative solutions that leverage AI to augment complex tasks. These solutions must be able to assist procurement in working more efficiently and scaling quickly as well as automating and optimizing the procure-to-pay process.
Xeeva’s founder and CEO, Dilip Dubey, was excited about the news. “Being named as a Gartner Cool Vendor is a very proud moment in Xeeva’s history,” he stated.
Xeeva has been disrupting the procurement space more and more recently, especially with their over $40 million investment round earlier this year. Being a part of Gartner’s Cool Vendor report is further validation that Xeeva is a major player in procurement and sourcing. Specifically, Gartner says that “Indirect procurement organizations with an early adopter mindset, looking to experiment with what AI is capable of in procurement” should care about this growing source-to-settle company.
Gartner’s analysis of Xeeva concluded that it’s a cool vendor for a handful of reasons, mostly revolving around its unique AI tech. The report describes one of those reasons as being because “they have enabled what Gartner calls embedded analytics for source-to-pay.” This refers to the software’s flexible and comprehensive analytics capabilities within its personalized self-service tools and dashboards. In Xeeva’s visibility solution, its AI “takes unstructured spend data scattered across various systems, cleanses it and categorizes it down to the line level to unearth new savings opportunities.” Xeeva’s AI tech is unique here because typical spend analysis tools require data to follow a specific taxonomy for classification and aren’t able to classify as granularly as it can.
Gartner also says that Xeeva is cool because “it uses its patented AI to automate the many tedious tasks that P2P professionals do manually today.” Xeeva holds multiple patents and has even more patents pending for the AI tech that powers its software. In the report, Gartner discusses how in Xeeva’s procurement solution, its AI “helps automate the process of converting the details included in a sourcing event (products, pricing) into catalog items.” This intelligent automation is what assists Xeeva improve collaboration, reduce costs, and drive results.
“A strong belief of ours is that AI is the future of procurement so recognition for our patented tech in this way is absolutely rewarding,” Dilip said. “This honor is both a testament to our customers who inspire us daily and to the hard work of the Xeeva team.”
To learn more about what makes Xeeva’s AI-powered procurement and sourcing software cool, contact Xeeva today to see it in action.
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Founded in 2014, Xeeva is a global provider of intelligent cloud-based procurement software and financial solutions for indirect spend and MRO. Used in over 45 countries and available in 18 languages, their software suite automates the source-to-pay process with open communication for procurement, sourcing, and supplier management. Xeeva’s innovative and patented technology is driven by advanced artificial intelligence and simplifies the procure-to-pay process with a focus on driving results – leading to increased productivity, improved compliance and control, and a sustainable bottom line impact. For more information, visit www.xeeva.com.
Mark Bliss, VP of Marketing & Customer Success