Despite its low profile in the procurement world, Avetta, formerly known as PICS Auditing, is better known in certain markets, especially industries that rely heavily on field work and contractors (e.g., energy companies, cable companies, wireless companies, and other utilities). Avetta’s traction in these market segments may not capture the attention of more generic procurement technology providers, but the SaaS applications vendor has seen year-over-year growth in the 30% range over the last 15 years. Avetta combines elements of supplier onboarding, supplier management, contractor management, supply risk management and third-party data aggregation in a unique solution purpose-built to support industry use cases. Avetta now has more than 300 clients (most of them larger Global 2000 firms) that collectively use more than 50,000 suppliers in 100 countries in a network graph with more than 250,000 active connections at any one time.
This Spend Matters PRO Vendor Snapshot explores Avetta and its unique approach to supply chain risk management and supplier management, providing facts and expert analysis to help procurement organizations decide if they should shortlist the vendor. Part 1 of our analysis provides 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 Avetta. 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.