Soource is an AI-driven platform that automates supplier discovery and negotiation by leveraging a global database and bulk email communication. It enables purchasing managers to efficiently collect and analyze multiple quotes, optimize supplier selection, and maintain organized records, significantly reducing sourcing time and costs.
Funding
$1.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Sourcing and supplier discovery often involve manual processes, making it difficult for purchasing managers to efficiently identify the best options. Collecting and analyzing quotes from multiple suppliers can be time-consuming and lack a centralized system for organized record-keeping.
Solution
Soource is an AI-powered platform designed to streamline supplier discovery and negotiation through its extensive global database and automated email communication capabilities. The platform enables users to efficiently gather and analyze multiple quotes, facilitating optimized supplier selection and maintaining well-organized records. By automating the collection of supplier information and leveraging AI for analysis, Soource accelerates the purchasing process, allowing users to maintain qualified supplier lists and map the market effectively. The system provides tools to minimize costs, track communications, accelerate sourcing, and make informed decisions, all while reducing risks by expanding the supplier base.
Target Audience
Soource primarily targets purchasing managers and procurement teams seeking to optimize their sourcing processes, reduce costs, and improve efficiency in supplier selection.
Features
- Access to a vast global database of suppliers.
- Automated bulk email sending for efficient supplier outreach.
- AI-driven analysis of supplier responses and quotations.
- Centralized platform for organizing and archiving offer history.
- Customizable dashboards for summarizing key sourcing metrics.
- Integration capabilities with ERP and Procurement Suites (Enterprise plan).