Supply Chain Sustainability Software Benchmark Reveals The 10 Leaders In The Market

Supply Chain Sustainability Software Benchmark Reveals The 10 Leaders In The Market

London, UK. The market for supply chain sustainability (SCS) software is experiencing booming demand, as a result of intensifying regulation, growing ESG and sustainability risks, and increasing disruption to supply chains. These multifaceted challenges are prompting companies to invest in specialized solutions to improve transparency and compliance, as well as mitigate risks. As a result, Verdantix predicts that the SCS software market will grow to $6.8 billion by 2028.

Solution providers are responding to increased demand for their products by investing in new functionality. In particular, Verdantix has seen an emphasis on incorporating AI: vendors expect this to be a powerful enabler of improved cross-functional decision-making, and an important tool to help firms integrate sustainability into their supply chain operations.

A new Verdantix benchmark study of the 15 most prominent supply chain sustainability software providers reveals that 10 firms - Achilles, Avetta, Assent, Benchmark Gensuite, EcoVadis, EiQ by LRQA, IntegrityNext, QIMA, Sedex and Sphera - demonstrate the most advanced supply chain sustainability software capabilities.

The Verdantix Green Quadrant: Supply Chain Sustainability Software 2024 report equips sustainability, procurement, risk and operations leaders with strategic guidance to select and implement solutions that align with their objectives. Key report findings:

• Buyers are seeking scalable, customizable solutions that cater to the specific needs of internal teams across sustainability, procurement and risk management, to enable efficient data collection, collaboration and informed decision-making.
• The need to address compliance obligations, and to mitigate financial, legal and reputational risks, is a primary driver of investment in SCS solutions. This is fuelling demand for digital tools to enhance supplier collaboration and accelerate supply chain sustainability. Vendors such as Achilles and Ethixbase360 are offering specialized solutions for third-party risk mitigation.
• AI-powered solutions can streamline processes, automate data collection and improve the accuracy of reporting, helping companies enhance compliance, while minimizing supplier fatigue. Assent's AI-powered tool validates supplier information, while Benchmark Gensuite offers AI-enabled forecasting tools. IBM has an AI-powered scenario analysis solution, and IntegrityNext's AI tools analyse customer and supplier performance.
• Vendors are expanding their capabilities through M&As and strategic partnerships to meet customer needs and strengthen their market positions. Prominent examples are the 2024 acquisitions of SupplyShift by Sphera and Ulula by EcoVadis. Avetta's partnership with Workiva Carbon, meanwhile, aims to improve supplier management and carbon emissions reporting.

"The increasing complexity of global supply chains, coupled with mounting regulations and environmental concerns, has elevated supply chain sustainability to a strategic imperative for businesses worldwide," said Elisa Molero, Industry Analyst at Verdantix. "Organizations are seeking SCS solutions that can provide transparency, mitigate risks and ensure operational resilience. In response, SCS software vendors are innovating with solutions that facilitate cross-functional collaboration and enable data-driven decisions."