LogicSource, a provider of purpose-built procurement services and technology, recently announced updates to its OneMarket platform with five-modules designed specifically for sourcing and procurement professionals.

“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 allow 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 information including baseline spend, suppliers, savings projections and key dates from a single platform
• Sourcing: Delivers pre-built tools and templates to accelerate time-to-market and eliminate manual tasks and processes
• Contracts: Provides a central location for all contract data that’s searchable with procurement-focused metadata and timeline notifications
• Procure-to-Pay: Offers procurement and tactical sourcing functionality, enabled by 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.”

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.