MASON, Ohio, May 22, 2018 /PRNewswire/ — The global leader in supplier management, ConnXus, expands procurement arm by establishing strategic partnerships with impact analysis platform provider Mark Labs, and source-to-pay technology provider, SynerTrade. Mark Labs technology will expand ConnXus’ Economic Impact Report^® to include social and total impact, while the SynerTrade referral partnership will funnel corporations to ConnXus’ supplier diversity suite of solutions.

Adding Better Business Value to Social and Economic Impact

In a marketplace where one poorly crafted tweet alters a brand’s image for years, it is essential that corporations have robust impact data behind interdepartmental and third-party programs. Enabling procurement and sourcing departments to track downstream diverse spend with actionable data, the ConnXus’ Economic Impact Report^® serves up robust insight on job growth and community impact. Now with social impact reports powered by Mark Labs, interdisciplinary departments including human resources and category managers can track impact from corporate social responsibility programs.

“Every company makes a social impact, but not every company can measure and optimize their impact. ConnXus clients now have access to a data-driven report that inputs complex social data challenges and outputs actionable insights in their Economic Impact Reports,” says Shaun Loria, Mark Labs’ co-founder and chief operations officer.

“Mark Labs’ artificial intelligence and machine-learning science paired with our Economic Impact Reports provide clients with more holistic data not currently available in the procurement arena,” explains Daryl Hammett, ConnXus chief operations officer and general manager. “At ConnXus, we strive to provide our clients and partners with data to provide long-lasting impact to the communities they operate within.”

Uniting Procurement and Supplier Management Forces

Known for its superiority in supplier relationship and risk management software, ConnXus is a Spend Matters-rated value leader in the industry. With this new partnership, SynerTrade clients receive preferential referral subscription rates to ConnXus’ state-of-the-art supplier diversity technology.

“Partnering with ConnXus will allow SynerTrade customers to easily tap into the critical diversity data to incorporate supplier diversity into their sourcing process,” said Roger Blumberg, vice president of business strategy at SynerTrade. “A robust supplier management process includes reporting accurate, real-time downstream diversity spend data, and ConnXus is the right partner to make this happen.”

For more information about ConnXus’ strategic partnerships and opportunities, visit the webpage here.

About ConnXus

ConnXus supplier management software solutions simplify the complexities of global supply chains and allow buyers to achieve their goals of responsible and sustainable sourcing. ConnXus is a CPUC-certified business enterprise based in Mason, Ohio with local, regional and international capabilities. For additional information about ConnXus and their growing suite of supplier risk solutions, visit the company’s website at www.connxus.com, and to register your company on the ConnXus platform, visit https://mysuppliernetwork.com/user/signup.

About Mark Labs

Every organization can make an impact, but not every organization can measure it. Mark Labs quantifies and optimizes impact. Their platform provides organizations the data and insights they need to understand and improve their effect on local communities. Our Social Impact Reports enable organizations to measure their impact and utilize predictive analytics – powered by artificial intelligence -to drive success. Mark Labs’ core competencies are artificial intelligence, machine learning, and impact analysis (social impact, indirect impact, and induced impact). Visit https://www.marklabs.co/ for more information.

About SynerTrade

SynerTrade is a leading international provider of cloud-based procurement solutions for the digitalization of companies’ procurement processes. Since 2000, we have helped companies meet all their procurement challenges in a different way, and is a recognized industry leader in Source to Contract, Procure to Pay, Supplier Relationship Management, and Purchasing Intelligence. A part of the Econocom Group, SynerTrade’s complete end-to-end SaaS platform, SynerTrade Accelerate, has a tremendous global presence as it focuses on flexible, scalable and easy-to-use solutions. With a deep ERP knowledge, SynerTrade is extremely easy to implement as a single source, homegrown option. SynerTrade operates in over 20 offices worldwide and offers 24/7 support in 10 languages to help clients optimize more than 600 billion dollars of annual spend.Find out more at www.synertrade.com.

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SOURCE ConnXus