Just when you thought that a single procure-to-pay (P2P) solution per company was enough to drive transactional compliance, reduce maverick spend and maximize savings, along comes a provider that challenges the notion of one, ubiquitous e-procurement tool within one organization. The technology vendor in question is Claritum (and as a side note, there’s actually more than one provider in this market, but we’ll get to that later in the series during our competitive analysis in the final installment in our review).
Claritum is a cloud-based P2P solution provider focused on helping procurement organizations address much of the lifecycle of categories that typically go unmanaged, sometimes in part, but often in whole. Founded in 2002 with the goal of helping companies streamline procurement for print and marketing services, Claritum now addresses a much broader range of complex services and tail spend categories. The multi-party solution addresses the needs of not just buyers and suppliers — often in ways different from standard P2P platforms — but also other intermediaries in the supply chain for complex services categories.
This Spend Matters PRO Vendor Snapshot explores Claritum’s strengths and weaknesses across its procurement technology suite, providing facts and expert analysis to help procurement organizations decide if they should shortlist the vendor as a potential procure-to-pay solution. Part 1 of our analysis comprised a company and detailed solution overview and a SWOT analysis, as well as a summary recommended fit suggestion for what types of organizations should consider Claritum. The remaining parts of this multipart series will offer a user selection guide, user interface (UI/UX) analysis, competitive alternatives and evaluation and selection considerations.