Mercanis recognized as 2022 Gartner® Cool Vendor™

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• Mercanis was named Cool Vendor™ by Gartner® in the category of Sourcing and Procurement Technology.
• Gartner's® report recognizes Mercanis's role in empowering procurement organizations to become value creators.
• Mercanis identifies cost savings and increases efficiencies by supporting companies through the current recession and global crisis.

BERLIN, SUNNYVALE, Calif., Nov. 9, 2022 /PRNewswire/ -- Mercanis, a Berlin-based technology start-up offering an AI-based procurement solution, announced today that it was named a 2022 Gartner^® Cool Vendor™ in the report "Cool Vendors™ in Sourcing and Procurement Technology. The win signals Mercanis' ability to differentiate itself from competitors through its revolutionary sourcing approach that leverages network effects as well as process automation and thereby generates savings.

Fabian Heinrich, CEO and Co-Founder of Mercanis: "We are truly humbled to be recognized as a 2022 Gartner® Cool Vendor™. It shows the importance of innovative and intelligent procurement and sourcing software. Especially in current inflation and recession times, we drive cost and time savings, and mitigate risks beyond procurement. Thus, Mercanis functions as a "crisis mitigator" that aims to enable firms to not only survive but also thrive in the face of current and future crises."

By seamlessly automating the buying journey, Mercanis frees up time and ensures compliance through autonomous sourcing. In current times of rising prices and recession, Mercanis enables companies to engage with the best suppliers for their procurement needs, while reducing time and money spent on the sourcing process. According to the 2022 Gartner® Cool Vendors™ study, 73% of global procurement leaders agree that greater cost savings are incurred when procurement utilizes advanced technological solutions, which understand and fulfill procurement needs. Speeding up the sourcing process is considered a main benefit of innovative technology by 67% of global procurement leaders surveyed in the 2022 Gartner® Report.

Koray Köse, Senior Director at Gartner®, states: "Mercanis uses a combination of process automation and predictive analytics to run sourcing holistically and accelerate and automate the entire sourcing process. […] The system is set up with a high degree of sophisticated simplicity and requires low or no training for adoption".

The Gartner® report highlights that supplier risk management, supplier collaboration and cost optimization lead this year's technology trends in sourcing and procurement.

The current increase in inflation has added to the financial burden companies are carrying and makes the implementation of revolutionary technologies even more crucial. The start-up supports procurement teams of global players such as Linde, Wilson, Arcteryx, and Hypoport on their journey of digitalizing the sourcing process.

About Mercanis:

Mercanis is a procurement solution focused on the source-to-contract process. The company was founded in September 2020 by Fabian Heinrich and Moritz Weiermann, and soon became one of the leading sourcing suites used by clients such as Linde, Wilson or Hypoport. Mercanis seeks to unleash the power of digital procurement by optimizing the sourcing process and offering a holistic source-to-contract approach. To simplify the procurement process, Mercanis has introduced four focus areas: spend analytics, sourcing events (RFx), supplier management, and contract management. Learn more about Mercanis:  https://www.mercanis.com

CONTACT: Aaron Schwietring, +49 30233277460

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SOURCE Mercanis