siliconindia | | DECEMBER 20234The Accelerators of Business & Trade!Amidst the profoundly growing business landscape driven by globalization of economies & trade, rapid evolution happening across solutions & services, tech & IT, sourcing industry thrives as a seeker of prod-ucts, services & solutions recognizing or crafting the best process to procure, evaluate, and engage suppliers based on set criteria to achieve cost savings and best value for goods and services. The sourcing process is carried out using a tendering process and is applied at tactical and strategic levels with the intent to create dis-tinctive value by finding the most appropriate suppliers at the low-est cost to gain a competitive advantage. Especially where tech through AI, Cloud computing, and IoT is boosting the sourcing & procurement industry through implementation across retail pro-curement processes, a lot has changed and got streamlined in the sector. The evolution reflects eminently in the recent study, where major drivers affecting the industry growth with the required sta-tistics adds value to the Sourcing segment across business & econ-omy. Especially, the Procurement Software market size which was valued at $6.11 billion in 2021, registering a CAGR of 10.8 percent is projected to be worth $15.38 billion by 2030.However, many challenges still exist in the form of risk, sustainability, globalization, transparency, innovation, collaboration and new age technologies to further paving new roads for the sourcing industry, and draw organization's brands to great heights, Sourcing industry will be leading India's economic transformation pre-eminently. There are many Sourcing companies contributing to it but choosing one of the best may seem difficult. Hence, understanding the need of the hour, siliconindia magazine brings to you '10 Most Promising Sourcing Companies - 2023' recognizing the leaders in the industry who have been helping organizations to outsource the procurement and sourcing task to them and just focus on businesses' core competencies.Do let us know what you think!Mandvi SinghAssistant Managing Editoreditor@siliconindia.com Publisher & Managing EditorAssistant Managing EditorAssociate EditorAlok ChaturvediMandvi SinghIndranil ChakrabortyVol 10 · Issue 08 - 02 · DECEMBER, 2023Editorial TeamHima P. MP. Tejaswini Roshan AktharManager - DesignPrabhu Dutta A.R.N RayArt ManagerSuanya Chakraborty Designers Mrigank SharmaAntony Arnold FGM- Sales & MarketingShashi RanjanAdvertising Manager Bhavani N B advertise@siliconindia.comEditorial Querieseditor@siliconindia.comCirculation Manager Magendran PerumalTo subscribeVisit: https://www.siliconindia.com/subscribe/or send email to subscription@siliconindia.comMagazine Price is Rs. 150 per issuePrinted and Published By Alok Chaturvedi on behalf of Silicon Media Technologies Pvt Ltd and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Publisher Alok ChaturvediCopyright © 2023 Silicon Media Technologies Pvt Ltd, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.siliconindiaEditorial
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