# Workday Strategic Sourcing

> Workday Strategic Sourcing is the cloud sourcing and supplier-management product formerly known as Scout RFP. It gives enterprise procurement teams one place to accept purchase requests, plan projects, run RFPs, RFIs, RFQs and reverse auctions, compare bids, collaborate with suppliers, track savings and move awards toward contracts. Its enduring insight is less technical than behavioral: a sourcing system creates no value if people retreat to email and spreadsheets.

- **Founded:** 2014
- **Headquarters:** San Francisco, United States
- **Founders:** Alex Yakubovich (Co-founder and former CEO), Stan Garber (Co-founder and former President), Chris Crane (Co-founder and former VP of Product), Andrew Durlak (Co-founder and former VP of Operations)
- **Products:** Sourcing Intake and Pipeline, RFx and Reverse Auctions, Supplier Management, Source-to-Contract Workflow, Workday AI for Sourcing
- **Notable:** Acquired by Workday for approximately $540 million in December 2019., Raised $60.3 million before acquisition, including a $33 million Series C led by Scale Venture Partners., Reported 2x annual recurring revenue growth and nearly 100,000 new users in the 12 months preceding its Series C.

## Products & services

- **Sourcing Intake and Pipeline** — Centralizes purchase requests, routes work to sourcing owners, tracks milestones, approved spend and savings targets, and shows stakeholders progress.
- **RFx and Reverse Auctions** — Builds RFPs, RFIs and RFQs from templates, manages supplier questions and responses, controls pricing visibility, compares bids and runs competitive auctions.
- **Supplier Management** — Handles onboarding, profiles, approvals, scorecards, performance, diversity, risk data, audit records and supplier collaboration.
- **Source-to-Contract Workflow** — Moves awarded suppliers toward contracts and connects with Workday Contract Lifecycle Management for drafting, redlining, negotiation and obligation management.
- **Workday AI for Sourcing** — Summarizes event responses, assists side-by-side supplier analysis, surfaces risk and opportunities, and automates repetitive coordination in the sourcing lifecycle.

## Achievements

- Acquired by Workday for approximately $540 million in December 2019.
- Raised $60.3 million before acquisition, including a $33 million Series C led by Scale Venture Partners.
- Reported 2x annual recurring revenue growth and nearly 100,000 new users in the 12 months preceding its Series C.
- Managed more than $20 billion in project spend by January 2019.
- Grew from more than 175 enterprise customers before acquisition to more than 300 global businesses one year into Workday ownership.
- Sharp HealthCare reported $4.2 million in savings in its first six months and a four-week reduction in RFP cycles that had taken 12 weeks or more.
- ChenMed reported saving about $70,000 in its first reverse auction.
- Recognized as a Gartner Cool Vendor in procurement and sourcing technology while still a Series A company.

## Latest updates

- **2026-03** — Workday's current Strategic Sourcing datasheet describes AI-assisted bid analysis, centralized intake, proactive spend alerts, scenario modeling and connected contract workflows with Workday CLM.
- **2025-03** — Evisort contract intelligence and contract lifecycle management became available through Workday, strengthening the contract side of the source-to-pay portfolio.
- **2024-09** — Workday announced its agreement to acquire Evisort, positioning document intelligence and supplier-contract analysis alongside its finance and procurement products.

## Links

- Website: https://www.workday.com/en-us/products/spend-management/strategic-sourcing.html
- LinkedIn: https://www.linkedin.com/company/workday-strategic-sourcing
- Twitter/X: https://x.com/scoutrfp
- YouTube: https://www.youtube.com/@workdaystrategicsourcing202

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Published by YesPress — https://yespress.io
Last updated: 2026-09-28