Strategic sourcing software is a type of business software that helps organizations manage their procurement processes. It enables organizations to analyze their spending, identify cost savings opportunities, and develop and execute sourcing strategies. Strategic sourcing software helps organizations automate the process of gathering and analyzing data from suppliers, negotiating contracts, and tracking and managing supplier performance. It also helps organizations identify and select the best suppliers for their needs, manage supplier relationships, and monitor and manage the entire sourcing process. By leveraging the power of technology, strategic sourcing software can help organizations optimize their procurement processes, reduce costs, and improve supplier performance. Ultimately, strategic sourcing software helps organizations become more efficient and cost-effective in their procurement operations.