What is a Gartner Cool Vendor?
According to Gartner, a Cool Vendor is “a small company offering a technology or service that is innovative, impactful, or intriguing.” The three elements of a Cool Vendor include:
Innovative: Enables users to do things they could not do before.
Impactful: Has or will have a business impact, not just technology for its own sake.
Intriguing: Has caught Gartner’s interest during the past six months.
Berlin, GER / Sunnyvale, CA, 9th of November 2022
Mercanis a Berlin-based technology start-up offering an AI-based procurement solution, announced today that it was named a 2022 Gartner® Cool Vendor™ in the report “Cool Vendors™ in Sourcing and Procurement Technology”. The win signals Mercanis’ ability to differentiate itself from competitors through its revolutionary sourcing approach that leverages network effects as well as process automation and thereby generates savings.
Fabian Heinrich, CEO and Co-Founder of Mercanis: “We are truly humbled to be recognized as a 2022 Gartner® Cool Vendor™. It shows the importance of innovative and intelligent procurement and sourcing software. Especiallyin current inflation and recession times, we drive cost and time savings, and mitigaterisks beyond procurement. Thus, Mercanis functions as a “crisis mitigator” thataims to enable firms to not only survive but also thrive in the face of currentand future crises.”
By seamlessly automating the buying journey, Mercanis frees up time and ensures compliance through autonomous sourcing. In current times of rising prices and recession, Mercanis enables companies to engage with the best suppliers for their procurement needs, while reducing time and money spent on the sourcing process. According to the 2022 Gartner® Cool Vendors™ study, 73% of global procurement leaders agree that greater cost savings are incurred when procurement utilizes advanced technological solutions, which understand and fulfill procurement needs. Speeding up the sourcing process is considered a main benefit of innovative technology by 67% of global procurement leaders surveyed in the 2022 Gartner® report.
Koray Köse, Senior Director at Gartner® states: “Mercanis uses acombination of process automation and predictive analytics to run sourcing holisticallyand accelerate and automate the entire sourcing process. […] The system is setup with a high degree of sophisticated simplicity and requires low or notraining for adoption”.
Mercanis is a procurement solution focused on the source-to-contract process. The company was founded in September 2020 by Fabian Heinrich and Moritz Weiermann, and soon became one of the leading sourcing suites used by clients such as Linde, Wilson or Hypoport. Mercanis seeks to unleash the power of digital procurement by optimizing the sourcing process and offering a holistic source-to-contract approach.
To simplify the procurement process, Mercanis has introduced four focus areas: spend analytics, sourcing events (RFx), supplier management, and contract management.
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