2023 Gartner® Cool Vendor in Sourcing and Procurement Technology

According to Gartner, “Cool Vendors have the potential to develop technologies, products, services or business models that enable users to do things that they couldn’t do before, in ways that are materially different from other options in the market.”1

Traditional AP tools cannot generate 10x ROI or eliminate complex workflows, costly clawback periods, and cash flow leakage. Only OpenEnvoy, with its AI-native, enterprise-grade AP automation platform, can digitize invoices in milliseconds at 100% accuracy and fully dedupe and reconcile those invoices at a line item level from contract to delivery in a few seconds.

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1 - Gartner 2022 Cool Vendors Pave New Paths for Democratized Digital Delivery, Frances Karamouzis, 11 November 2022.

Gartner, Cool Vendors in Sourcing & Procurement Technology, Cian Curtin, Micky Keck, Naveen Mahendra, Chaithanya Paradarami, 9 October 2023. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.  The GARTNER COOL VENDOR badge is a trademark and service mark of Gartner, Inc. and/or its affiliates and is used herein with permission.All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s Research & Advisory organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

OpenEnvoy has proven itself as a Cool Vendor by surpassing competitors in critical AP areas and addressing long-standing industry challenges, including:


Touchless data extraction

Guaranteed 100% accuracy SLA for data extraction, covering image-based invoices, every field, header, and descriptive block.


Highly performant infrastructure

Supporting the processing of millions of invoices daily.


Real-time audit of complex invoices

Ability to audit intricate variable pricing invoices such as freight, advertising, and complex services.


N-way invoice matching

Support for n-way invoice matching and intelligent account coding for non-PO backed invoices.