A developer of applied AI platforms designed to transform strategic sourcing and procurement has been recognised as the Innovative Sourcing Technology of the Year 2018.

LevaData announced in a statement that its Cognitive Sourcing Platform has been named Innovative Sourcing Technology of the Year in the 2018 Levvel Research Innovation Awards.

Levvel Research judged leading software providers’ ability to meet organizations’ top back-office transformation goals using emerging technology, with LevaData being crowned the winner.

LevaData’s Cognitive Sourcing Platform is an advanced cloud platform that continuously identifies savings opportunities and risks by combining market intelligence and enterprise data with applied AI cognitive analytics.

It enables insight-driven negotiations by combining both internal direct materials spend with market insights and community benchmarking. LevaData also has Leva, the world’s first AI advisor for strategic sourcing and procurement. The flagship product combines multiple AI technologies with intelligent assistance to provide supply chain and procurement professionals with maximum purchasing leverage for any given situation.

“We are grateful for the recognition from Levvel Research, as it validates our focus on innovation and value creation within strategic sourcing and supply chain,” said Rajesh Kalidindi, CEO of LevaData. “We are proud of our leadership in the area of cognitive sourcing, and we look forward to continuing that legacy in the coming years.”

“The main focus of this year’s awards was standing out in the marketplace. The winners were the providers that could address organizations’ top process pains and goals in unique ways using cutting-edge technology,” said Major Bottoms Jr., research manager at Levvel. “We think the winners challenge their customers — and the marketplace as a whole — to think differently.”