The full list of Simeno’s list of “substitute” competitors is long. The list of direct competitors is much shorter. Yet perhaps the more important question procurement organizations should ask when considering procure-to-pay (P2P) products is whether they view the solutions as a technology-driven extension of ERP or something else entirely.
Organizations that prioritize solutions like Simeno are more traditional customers of e-procurement and will typically view transactional purchasing activities as a means to both automate and influence everyday buying activities. In contrast, a newer breed of P2P “buyer” is as — and often even more — concerned with the other benefits solution can bring, including long-tail supplier enablement and adjacent functional capability.
This third and final installment of our Spend Matters Vendor Snapshot covering Simeno provides an objective SWOT analysis of the e-procurement provider and offers a competitive segmentation analysis and comparison. It also includes recommended shortlist candidates as alternative vendors to Simeno and offers provider selection guidance. Finally, it provides summary analysis and recommendations for companies considering the vendor. Part 1 offered an in-depth look at Simeno as a firm and its specific solutions, and Part 2 gave a detailed analysis of solution strengths and weaknesses, as well as a review of the product’s user experience.