What is SourceMagnet?
SourceMagnet offers smarter sourcing and contract management solutions designed for modern businesses. Whether you’re juggling complex procurement workflows or handling a mountain of contracts, this platform is built to simplify operations, reduce risk, and save you precious time. It’s like having a streamlined assistant that keeps everything on track from start to finish.
Main Benefits of Using SourceMagnet
Here’s what makes SourceMagnet stand out:
- Reduce procurement costs by 15-30% through intelligent sourcing
- Gain complete visibility into your procurement pipeline
- Scale procurement operations without adding headcount
- Get full control of all contracts in one place
- Meet ESG goals while minimizing risk
- Save valuable time by automating manual tasks
Procurement Solution That Works
SourceMagnet is an innovative and user-friendly solution that streamlines every step of your procurement and contract management process. From sourcing to signed contract, it helps reduce costs, save time, and meet your ESG goals. The platform puts you in the driver’s seat, giving you full control while minimizing risk. All of this happens in one centralized place, making the whole process feel less like a headache and more like a breeze.
Contract Management Made Simple
Managing contracts doesn’t have to be complicated. SourceMagnet offers a simple, clear, and efficient way to handle all your contracts. It’s user-friendly, automates those tedious manual tasks, ensures compliance, and keeps the process effective and supplier-friendly. Imagine cutting down the paperwork chaos and focusing on what really matters.
Sourcing with a Smarter Edge
When it comes to sourcing, SourceMagnet helps reduce costs, save time, and improve sustainability. The platform is AI-driven, sending automatic reminders and managing tasks seamlessly. Plus, it offers customizable data collection and keeps all contracts in one place. It’s like having a smart assistant that never forgets a thing and keeps everything running smoothly.
Project Management and Collaboration
Managing procurement projects is easier with real-time updates and insights. SourceMagnet gives you control and overview, automates manual tasks, and provides a 360-degree view of your projects. With AI insights and centralized management, collaboration becomes more efficient and transparent. No more guessing games or missed deadlines—just clear, actionable information at your fingertips.
Impact on Sustainable Development Goals (SDGs)
- Goal 8: Decent Work and Economic Growth – by improving procurement efficiency and reducing costs
- Goal 9: Industry, Innovation, and Infrastructure – through AI-driven sourcing and contract management technology
- Goal 12: Responsible Consumption and Production – by supporting sustainable sourcing practices
- Goal 16: Peace, Justice, and Strong Institutions – via compliance and transparent contract management
Additional Features to Boost Procurement
SourceMagnet doesn’t stop at the basics. It offers powerful add-ons like AI Contract Registration, which automates contract registration and interaction. Customizable document templates help maintain company standards effortlessly. The robust API solution unlocks seamless interoperability across systems, while Entra ID integration streamlines user authentication with Single Sign-On. And for those legally binding documents? The eSignature feature lets you send, sign, and manage everything right within the contract workflow. It’s all about making procurement smarter, faster, and more connected.
