LONDON, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Procurement & Supply Chain Live -- Craft, the supply chain resilience company, today announced it was named a Value Leader in the Spend Matters Fall 2024 SRM SolutionMap, which includes an evaluation of 93 procurement technology vendors. Craft scored the highest ratings for its overall functional depth, overall customer scores, UX and UI, supplier intelligence and N-tier capabilities.
To be considered for the list, Craft underwent a rigorous functionality and capability assessment that included an in-depth capability demonstration of their supply chain risk management platform, and anonymized customer reviews and ratings. Spend Matters helps buyers, consultants, investors, and sellers compare vendors across 500+ request-for-information (RFI) requirements for better and smarter procurement technology purchasing.
“Thousands of companies look to Spend Matters to help them find the right procurement and supply chain technology for their organizations,” said Ilya Levtov, CEO and founder, Craft. “This comprehensive evaluation in the latest SpendMatters Fall 2024 Solution Map is further validation of Craft’s strategy to expand the definition of supplier risk management and serves as a testament to our ability to deliver the right solutions to power resilience across the entire enterprise. We are thrilled to be recognized by SpendMatters, and above all to earn high marks from our customers as a value leader in this highly competitive market.”
Craft was evaluated under two vendor categories – Supplier Management (risk enhanced) and Risk Management (TPRM/SCRM) – and earned the following:
1. Named a “Risk Management Value Leader”: Craft was recognized for excelling in supplier intelligence and AI-driven monitoring and analytics for risk management as a result of high functional and customer scores.
2. Highest-rated vendor for functional depth: Craft was rewarded with high marks by its customers for its exceptionally quick deployment, user experience (UX) and ease-of-use, and its process expertise in helping clients identify and mitigate supply chain-related risk.
3. Top score for supplier profiles: Craft rated the top analyst scores within the entire category for SIM (supplier information management) and Supplier Profiling, designated by a gold ribbon in the SRM SolutionMap.
4. Surpassed other SRM vendors in multiple categories: Craft received high ratings for ability to assess and mitigate risks throughout the entirety of the supply chain, and providing detailed services on behalf of clients for supplier data / profile management.
"Vendors participating in SolutionMap undergo the most rigorous assessment from a tech capability and customer delivery perspective,” said Carina Kuhl, president, SpendMatters. “Spend Matters has the largest analyst team dedicated to in-depth comparison of solutions in the procurement technology space and pinpointing their differentiators.”
Craft is the intelligent supply chain resilience platform that enables organizations to know their suppliers, protect against disruptions, and build resilient supply chains. Craft’s flexible data fabric uses best of breed datasets from public and private sources across 500+ risk categories, such as ESG, geopolitical, foreign influence, cybersecurity, supplier financial health, weather, and much more. Its risk engine is enhanced by AI-generated insights that can be shared, tracked and taken action on internally and across organizations via a collaborative workspace. With Craft, organizations like the U.S. Department of Defense, Hapag-Lloyd, major financial services institutions, and other Fortune 500 companies confidently navigate third-party risks, regulatory environments, uphold ethics, and drive business continuity and growth.
For more information about Craft, visit www.craft.co or contact press@craft.co.
About Craft
Craft illuminates the path to global supply chain resilience. It empowers businesses to strengthen their supplier networks and supply chains with the industry’s most reliable and comprehensive data fabric and AI-driven risk mitigation engine. Craft’s user-friendly platform offers 360-degree visibility to explore and evaluate supplier networks, AI-generated insights to detect and mitigate disruptions, and collaborative tools to enhance supply chain strategies. Procurement and supply chain professionals can confidently navigate regulatory environments, adhere to ethical standards, and ensure business continuity. Headquartered in San Francisco, CA, Craft assists commercial and governmental organizations worldwide in creating more resilient supply chains.
For more information about Craft, visit www.craft.co.
PR Contact
Carol Hickins
carol.hickins@craft.co
