What is Your Procure-to-Pay Persona? Understand Your Requirements and Mass Customize Your Vendor Shortlist (Q4 2017 Update) [PRO]

No two procurement or finance organizations are alike. Each has its own persona that reflects not only its own value proposition and engagement approach but also the stakeholders it serves — and its supply base. The same principle holds true of procure-to-pay (P2P) application providers. Each has a persona (or more than one persona) that reflects its value proposition, solution strategy and targeted customer segments. Therefore, companies should seek providers whose personas best align to theirs. In other words, there is no “magic” solution provider, and finding the right fit is critical, because a P2P application represents the main interface for most of procurement’s internal customers — and a common face to suppliers, as well.

To that end, we are excited to break down our approach to Spend Matters SolutionMap, a comparative analytical framework for practitioners to evaluate relevant solutions to meet their procurement needs. Our SolutionMap initiative depicts vendor rankings based on specific buyer personas to reflect the unique value proposition, solution strategy and customer segments served by a vendor. Participating vendors are scored both on their Solution as well as on Customer Value, based on in-depth tech reviews (including live demos) by the Spend Matters analyst team and aggregated direct customer input from surveys. Each SolutionMap is updated quarterly rather than in 12-month (or longer) cycles, to accurately reflect the pace of market developments.

As part of our second Spend Matters SolutionMap vendor comparison ranking, for procure-to-pay solutions, the Spend Matters analyst team has dedicated considerable time to developing the unique organizational “personas” that we’ve most often seen in our decades of experience working with procurement organizations. We have used these personas to weight the requirements that we used in solution scoring, which includes customer satisfaction scoring by solution customers.

Having collected feedback from hundreds of P2P users, vendors and consultants in recent months as part of our SolutionMap research, we see these personas as useful starting points for procurement organizations to classify themselves before looking at solution rankings of providers in the market. This Spend Matters PRO analysis shares five of the most common customer personas for procure-to-pay, spanning both e-procurement and invoice-to-pay solution areas. Aimed at practitioners as well as vendors and the consultants advising them, this research brief is the first step in the “mass customization” of procure-to-pay solutions to meet specific organizational needs.

Below, we present our five personas for procure-to-pay. For each, we include the following: full definitions, typical organizational priorities (based on each persona), functional / solution and customer value emphasis and recommended selection processes. Comparative vendor rankings are published for each persona separately on Spend Matters (and updated quarterly).

For full access to this PRO content: