LogicSource Strengthens OneMarket Platform to Help Bring Buying to the Boardroom

Five-module solution enhances the complete source-to-pay lifecycle for procurement leaders

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Apr 28, 2021, 09:00 ET

NORWALK, Conn., April 28, 2021 /PRNewswire/ -- LogicSource, the leader in purpose-built procurement services and technology, announced today it has enhanced its OneMarket platform with five-modules designed specifically for sourcing and procurement professionals that support the entire source-to-pay lifecycle. OneMarket delivers purpose-built technology, superior market intelligence and flexible services that help procurement leaders elevate their impact across the business.

Recent findings from Sourcing Industry Group and Coresight Research agree that procurement leaders lack the technology they need to support their initiatives: 55% have insufficient technology coverage, 45% are dissatisfied with their procurement technology, 77% have zero-to-moderate technology adoption and 84% feel procurement technology is overpriced. LogicSource's OneMarket platform empowers procurement leaders with the solutions they need to effectively source and procure across the indirect landscape.

"LogicSource has been in the services business for 12 years, and we have run over 30 Procurement departments on behalf of our clients. Over the years, we have identified critical gaps in the technology solutions available to the market, so we developed our own. Built by Procurement practitioners, for practitioners, OneMarket provides a fresh approach to sourcing and procurement, meeting the very specific and ever-changing needs of our customers through the support of technology," said David Pennino, CEO and founder of LogicSource.

OneMarket consists of five fully-integrated software modules, including:

Insights: Provides actionable spend and data analytics to empower sourcing teams to scope new initiatives and manage compliance to sourcing outcomes and procurement policies
Portfolio: Allows teams to manage sourcing performance to fiscal year targets with critical information including baseline spend, suppliers, savings projections, and key dates all captured in a single platform
Sourcing: Delivers pre-built tools and templates developed to accelerate time-to-market and eliminate manual tasks and processes
Contracts: Provides a central location for all contract data that's easily searchable with procurement-focused metadata and timeline notifications
Procure-to-Pay: Offers procurement and tactical sourcing functionality, enabled by powerful tools to enhance purchasing capabilities across the organization.

"Time and time again, we hear from procurement leaders that they don't have the proper technology to support their initiatives, or are challenged with having to use several different tools to achieve one goal," said Jo Seed COO of LogicSource. "OneMarket isn't just another piece of technology, it's a single platform with many solutions to meet the needs of our customers wherever they are in their procurement journey. Better yet, it helps procurement leaders showcase their true ROI and drive meaningful outcomes for their business stakeholders."

For more information on OneMarket, please visit https://logicsource.com/onemarket/.

About LogicSource:
LogicSource was purpose-built to drive profit improvement for its clients through better buying. LogicSource focuses exclusively on the sourcing and procurement of goods and services not-for-resale, which typically represents 20% of a company's revenue and the area of greatest spending inefficiency. Tested time and again in the marketplace, LogicSource's proven engagement model builds profitable partnerships that achieve 4-15x ROI. Learn more at www.logicsource.com.

Media Contact: Emily Cress, [email protected]

SOURCE LogicSource