BUSINESS WIRE
Procurement orchestration platform earns recognition as a Leader for transforming workflows, streamlining supplier management, and delivering strong customer outcomes.
ORO Labs Recognized as a Leader in IDC MarketScape: Worldwide SaaS and Cloud-Enabled Spend Orchestration 2024 Vendor Assessment
Corporate Ink for ORO Labs
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ORO Labs, creator of an enterprise-grade intake management and procurement orchestration platform, has been named a Leader in the inaugural IDC MarketScape: Worldwide SaaS and Cloud-Enabled Spend Orchestration 2024 Vendor Assessment (doc #US51795424, September 2024). ORO Labs is increasing business agility and driving better enterprise outcomes through its no-code platform that integrates and multiplies the ROI of disparate solutions. By simplifying and humanizing the purchasing experience, ORO Labs orchestrates essential procurement processes, from requisitioning through invoicing, to supplier onboarding, risk management and more.
“Procurement’s charter and technology needs today are far more complex, and companies are moving beyond traditional tools in favor of flexible, integrated solutions that adapt to how they operate,” said Sudhir Bhojwani, CEO and co-founder at ORO Labs. “From the start, our goal has been simple: to make procurement easier and more accessible for everyone. We believe this IDC MarketScape report is the latest proof point for how our platform helps teams reduce complexity, improve spend compliance, and focus on what really matters. We're proud to be on this journey with our customers, and we're eager to continue solving new problems and uncovering new use cases for procurement orchestration.”
To reflect these shifts in the industry and the growing need for procurement orchestration solutions, the 2024 IDC MarketScape Report marks the first recognition of spend orchestration as its own category.
“Spend orchestration is quickly becoming a very attractive option for companies looking to streamline their processes, manage risk, and enhance overall efficiency,” said Patrick Reymann, Research Director, Procurement and Enterprise Applications at IDC. “By offering a more integrated, workflow-driven approach, spend orchestration providers empower businesses to manage procurement with greater flexibility and visibility. This evolution in the procurement landscape is driving the rise of spend orchestration providers like ORO Labs - designated in the ‘Leaders’ Category in this Spend Orchestration IDC MarketScape - who are filling critical gaps left by traditional spend management tools.”
Procurement orchestration at ORO Labs goes beyond automating spend approvals, it's about delivering adaptable, AI-driven smart workflows that integrate seamlessly with existing systems and adjust in real time to evolving business needs. With full visibility into procurement activities and automated compliance checks, ORO enables faster, easier and more strategic decision-making. That is why global leaders like Roche, a Fortune 500 life sciences company, are working with ORO Labs to orchestrate the entire source-to-pay process across all buying channels and existing procuretech systems.
“We operate a true digital ecosystem – a combination of ERP, source-to-pay, and best of breed solutions – and ORO Labs is now helping us optimize how it all works together,” said Patrick Foelck, head of strategy and solutions at Roche. “Their platform is making our procurement tech more intuitive and adaptable to our stakeholders’ needs and UX expectations, improving collaboration between teams and systems, and increasing visibility across all our sourcing and operations. The progress we’ve seen so far is encouraging, and we’re eager to build on this momentum and unlock new efficiencies with ORO Labs.”
The report also noted, “clients seeking an intuitive, "walk up," enterprise-grade spend orchestration platform that combines enhanced transparency and facilitates compliant spend management activity, with an emphasis on risk management practices, should consider ORO Labs.”
About ORO Labs
ORO Labs’ mission is to make procurement simple, efficient, and human. The company’s automation platform tames and orchestrates chaotic and siloed business-critical enterprise spend by making it easy for employees to engage with procurement to start, manage and build supplier relationships. To learn how ORO is helping fast-growing global organizations quickly respond to business needs and market conditions, and why the company was recognized as an IDC Innovator for Procurement and Supply Chain, visit www.orolabs.ai.
About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
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Congratulations to @procurewithORO for being named a Leader in the inaugural @IDC MarketScape: Worldwide SaaS and Cloud-Enabled Spend Orchestration 2024 Vendor Assessment. For more details visit the release.