Press Release

Ohio, May 23rd 2018.- 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
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. At ConnXus, we strive to provide our clients and partners with data to provide long-lasting impact to the communities they operate within
Daryl Hammett, ConnXus chief operations officer and general manager


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. A robust supplier management process includes reporting accurate, real-time downstream diversity spend data, and ConnXus is the right partner to make this happen
Roger Blumberg, Vice president of business strategy at SynerTrade