Fremont, CA: Recent technological advancements have had a significant impact on many business activities. Back-office operations, in particular, such as supply chain management and procurement, are quickly changing as a result of digital transformation.

LogicSource, the leader in procurement services and technology, has introduced a range of enhancements to its OneMarket technology platform and the modules encompassing the Source-to-Contract lifecycle: OneMarket Sourcing, OneMarket Portfolio, and OneMarket Contracts. These modules provide users with a centralized command center for all aspects of a sourcing project pipeline, real-time savings as well as value projections, proven RFx tools and templates, and a searchable repository for all contract data, allowing them to automate and expedite the sourcing process.

LogicSource's advancements to the OneMarket Source-to-Contract modules include a completely integrated user experience across tools, upgraded online support, a library of pre-built RFx templates, and contract data integration into the sourcing pipeline process.

The expanded capabilities are being rolled out as Deloitte discovers that CPOs are grappling with value delivery challenges that necessitate greater efficiency. The Source-to-Contract enhancements support OneMarket's ability to simplify and accelerate procurement teams' sourcing programs and outcomes while also providing the tools and reporting they need to effectively demonstrate their strategic value.

"LogicSource invested in its OneMarket Source-to-Contract capabilities following a global pandemic that forced CPOs to mine their contract portfolios, negotiate with suppliers and execute new sourcing opportunities in a completely virtual world," stated David Pennino, CEO and founder of LogicSource. "The optimized solution is critical for procurement leaders as they strive to meet a growing list of expectations, including reducing costs, driving innovation and diversity initiatives and effectively managing risk."

Three of the five modules that comprise LogicSource's OneMarket Technology Platform, a fully integrated SaaS platform fueled by expert procurement services and market intelligence, are included in OneMarket's Source-to-Contract solution. The purpose-built technology platform enables and automates the Source-to-Pay lifecycle, giving business leaders a new agile approach.