Company Research Report: SourceDay

Company Overview

• Name: SourceDay

• Mission: To de-risk the inbound supply chain and increase profitability for manufacturers and distributors.

• Founded: Over 10 years ago.

• Founders: Specific founders are not mentioned, but the leadership includes experienced professionals.

• Key People:

• Michael Miller - Chief Executive Officer

• Clint McRee - Co-founder & Chief Strategy Officer

• Fred Brown - Chief Revenue Officer

• Peter Feldman - Chief Technology Officer

• Donna Fritz - VP, Marketing

• Headquarters: No information is available.

• Number of Employees: No information is available.

• Revenue: No information is available.

• What the Company is Known For: SourceDay is known for its direct procurement risk management solution that helps organizations streamline operations and improve supply chain efficiency.

Products

Direct Procurement Risk Management Solution

• Description: This solution helps synchronize supply chains by improving supplier reliability, risk visibility and resolution, cost containment, and data accuracy.

• Key Features:

• Supplier engagement and accountability

• Automation and standardization of procurement tasks

• Real-time updates and data accuracy

Supplier Collaboration Platform

• Description: Enhances buyer-supplier engagement, making it easy to manage PO confirmations, changes, shipments, and invoicing.

• Key Features:

• Interactive email workflows, platform access, and EDI integration

• Supplier scorecards for performance tracking

• Real-time supplier performance visibility

Recent Developments

• Leadership Transition: Michael Miller has been appointed as CEO, and Fred Brown as Chief Revenue Officer.

• New Product Launches: Introduction of a next-gen risk management solution aimed at enhancing supply chain performance.

• New Partnerships: Secured $6.5 million Series A financing from leading venture firms.

• Recognition: SourceDay was named to Inc.’s 2024 Best in Business List in AI & Data and recognized in 2023 Spend Matters 50 Providers to Watch.

Summary

SourceDay continues to focus on mitigating supply chain risks, improving supplier performance, and increasing the efficiency of procurement tasks through its AI-powered direct procurement risk management solutions. The company's ongoing advancements, leadership appointments, and industry recognition underline its commitment to delivering innovation and value to its customers.

(Note: "No information is available" has been mentioned alongside fields where specific data was unavailable from the provided text.)