The company stands out among high-performing supply chain organizations, demonstrating continued growth and excellence in procurement as a service.
WESTPORT, Conn., Oct. 29, 2024 -- LogicSource, the leader in procurement services and technology, announced today it has been named a Star Performer and Major Contender in Everest Group's 2024 PEAK Matrix Assessments for Source-to-Contract and Procurement Outsourcing.
Everest Group analysts provide a third-party perspective on supply chain performance, offering a window inside the most successful organizations in sourcing and procurement. This prestigious assessment measures industry top performers through a rigorous analysis including an extensive RFI detailing operations, metrics, financial performance, and vision for the future, and distinguishes the highest-ranking supply chain leaders in the market. LogicSource, with 15 years of industry service, has a track record of best-in-class performance and client satisfaction, and was designated as a Star Performer for the second consecutive year.
"This recognition reinforces our dedication to client success and ongoing growth. Our partnerships are designed to achieve more than just cost savings; they focus on delivering solutions that promote operational excellence," said LogicSource Founder and CEO, Dave Pennino. "Earning the Star Performer ranking for two consecutive years validates our strategy of fostering strong client relationships. We're proud to help the nation's leading brands save money and drive efficiencies through our expertise in indirect categories, cross-industry pricing data, and the power of our OneMarket technology suite. As we look ahead, we're excited to continue enhancing our innovative approach to procurement and expanding across new verticals."
Some of the strengths highlighted in this year's Everest Group report include LogicSource's proprietary technology suite, OneMarket and its unique Center of Excellence (COE). As drivers of significant cost savings, COE professionals scrutinize spend across thousands of categories and pave the way for brands to recoup millions of dollars across typically overlooked expenditures. Additionally, OneMarket sets LogicSource apart as a trailblazer in operational and cost efficiency.
"LogicSource leverages its proprietary end-to-end S2P platform, OneMarket, to serve large and mid-sized clients with flexible engagement models, industry contextualization, market intelligence, price benchmarking, analytics, and tail spend management," said Shirley Hung, Partner, Everest Group. "Due to its high growth rates, augmentation of onshore category expertise with a nearshore partnership for tactical procurement support, the expansion of capabilities to support the private equity sector, and the enhancement of expertise across IT/telecom, facilities, and contingent labor categories, LogicSource is positioned as a Major Contender and Star Performer in Everest Group's 2024 Source-to-Contract (S2C) Services PEAK Matrix® Assessment."
With intensifying challenges facing the supply chain industry – including port disruptions, geopolitical tensions, severe weather, and economic difficulties – it is critical that businesses from brick-and-mortar retailers to healthcare organizations have reliable procurement services and technology to navigate unprecedented times. LogicSource combats these difficulties with tailor-made strategies for risk mitigation, supply continuity, cost savings and EBITDA enhancement. Deep category expertise and insights from LogicSource's Center of Excellence experts help CFOs discern new areas to optimize their spend management approach and reduce costs.
LogicSource's growth in the last year supports customers with enhanced near-shore capabilities and increased private equity offerings. The procurement services leader builds upon past accolades from Everest Group, Inc. 5000, Spend Matters, and Financial Times as it expands its presence across business verticals. Collaborating with world-class leaders like Cleveland Clinic and lululemon, LogicSource sets the standard for strategic spend management.
About LogicSource
The innovative leader in procurement services and technology, LogicSource is purpose-built to drive profit improvement, mitigate risk, and ensure supply chain continuity through better buying. LogicSource focuses exclusively on the sourcing and procurement of indirect goods and services, which typically represent 20% of an organization's revenue and the area of greatest spending inefficiency. These include complex categories like marketing, packaging, corporate services, facilities, information technology, distribution and logistics and more, for which organizations often lack the capacity, focus and scale to achieve best-in-class buying. Unlike traditional advice-based consultants, LogicSource is a purpose-built buying utility with assets that are configurable to their clients' needs and ready to deploy. By combining decades of sourcing and procurement expertise, superior market intelligence, cross-portfolio spending leverage, and their OneMarket® Source-to-Pay technology, LogicSource executes customized solutions that deliver immediate savings and sustainable value. For more information visit www.logicsource.com.
CONTACT: Erica Olenski, erica.olenski@finnpartners.com
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