At GovBuy 2024, the State of New York's inaugural procurement conference, executives from procurement technology companies SOVRA and Procurated today announced a pioneering partnership to integrate Procurated's Canary software directly into the SOVRA platform.
ALBANY, N.Y. , Nov. 21, 2024 /PRNewswire-PRWeb/ -- At GovBuy 2024, the State of New York's inaugural procurement conference, executives from procurement technology companies SOVRA and Procurated today announced a pioneering partnership to integrate Procurated's Canary software directly into the SOVRA platform. Canary collects and analyzes supplier performance feedback from public sector agencies, providing actionable insights to improve procurement decision-making. This integration enables SOVRA's 7,000 public sector customers to make faster, smarter, and more informed decisions, proactively address issues, reduce performance risks, and drive greater efficiency throughout the procurement process.
Addressing Key Procurement Challenges with AI-Powered Insights
Vendor performance management is a significant challenge for public procurement, often complicated by unreliable data, slow decision-making, and fragmented systems. These issues lead to inefficiencies and missed opportunities for optimizing vendor performance. SOVRA's integration with Procurated's Canary software addresses these challenges by offering public sector procurement teams real-time, actionable insights into supplier performance.
With this integration, SOVRA customers can:
• Easily Collect Feedback and Ratings: Simplifying feedback collection with aggregated, peer-reviews from multiple agencies.
• Gain Instant, Actionable Performance Scores: Immediate alerts help teams address performance issues before they escalate.
• Enhance Collaboration Across Agencies: Fostering data-sharing and continuous improvement by comparing suppliers across contracts and agencies.
• Make Smarter, Data-Driven Decisions: AI-powered analysis identifies recurring patterns in feedback to drive efficiency and cost savings.
Thierry Jaffry, Chief Growth Officer at SOVRA, shared, "This partnership directly addresses a major challenge for procurement professionals—access to real-time, reliable performance data about their key suppliers. SOVRA is single-mindedly focused on public sector procurement and we watch the space intently. We've seen dozens of states this year adopt Canary as their VPM tool and are thrilled to meet this customer demand in a unique way. By integrating Procurated's Canary software, we're not only providing our customers with immediate, data-backed insights but also advancing our strategic commitment to AI, helping procurement teams make faster, more confident decisions."
David Yarkin, CEO of Procurated, added, "We're thrilled to partner with SOVRA to extend our trusted supplier performance insights to a wider audience. As a former procurement official, I know firsthand how busy procurement teams are. Through this integration, we give thousands of SOVRA customers the ability to see all of the powerful performance data from Canary right in the eProcurement system they use all day, every day."
Gary Lambert, Massachusetts' Assistant Secretary for Operational Services said,
"For years, Massachusetts has benefited from our partnerships with Sovra as our eProcurement system and with Procurated as our vendor performance platform. It's an exciting day for public procurement that governments will now have the power of both of these indispensable tools, fully integrated with one another."
The Canary integration helps SOVRA's customers make faster, more informed decisions, reduce risks, and deliver greater value with taxpayer dollars. It's another step in SOVRA's mission to power the critical work of the public sector through smarter, AI-powered, data-driven solutions.
About SOVRA
SOVRA leverages over 20 years of mdf commerce's expertise, uniting brands such as Bidnet Direct, Periscope, Merx, and Eco Interactive. With over 7,000 buyers and connections to 1,000,000 suppliers, SOVRA provides public sector procurement solutions that drive transparency, efficiency, and informed decision-making. Learn more at http://www.sovra.com.
About Procurated, Inc.
Based in Washington, DC, Procurated is the largest supplier ratings and reviews platform for the public sector, featuring over 80,000 verified reviews. Founded by David Yarkin, former Chief Procurement Officer of Pennsylvania, Procurated empowers procurement teams with real-time supplier insights. Introduced in January 2024, Procurated's powerful Canary platform is now in use by 14 states across the country to manage the performance of their suppliers.
Media Contact
Bertrand Guignat, SOVRA, 801-765-9245, [email protected], https://www.sovra.com/
Steve Isaac, Procurated, Inc., 631-988-5577, [email protected], https://home.procurated.com/
SOURCE SOVRA
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