The eProcurement / Procurement Category

Q4 SolutionMap℠: 32 Procurement Technology Solution Providers, Ranked

With Major League Baseball playoffs in full swing, we're reminded of the fitted ballcaps some of us used to wear when we were kids, just like the pros wore. Then at one point, companies introduced some fitted caps that were incongruously labeled “One Size Fits All.” That promise didn’t hold up. One size never really fits all (some of us have bigger noggins than others, for example), so ballcaps promoting themselves as such miss the mark. The same can be said for traditional analyst rankings of procurement technology solutions. Behold, Spend Matters Q4 SolutionMap℠ — where we leave the “one fits all” approach behind.

Q4 2017 SolutionMap E-Procurement, Invoice-to-Pay and Procure-to-Pay Release Notes [PRO]

The Q4 2017 SolutionMap release for E-Procurement, Invoice-to-Pay (I2P) and Procure-to-Pay (P2P) saw a number of changes from the Q2 2017 release. This includes the addition of new providers and updated buying personas.

In addition, as new providers joined the process, solution innovation increased among existing participants and the number of customer references grew — approximately 150 customers in total for E-Procurement, I2P and P2P are now included in the SolutionMap benchmark — the overall SolutionMaps and scores changed considerably.

This Spend Matters PRO Release Note provides insight into the Q4 2017 SolutionMap release for E-Procurement, I2P and P2P, focusing on what changed from the previous release, including detailed analyst insights, updated persona definitions and vendor scoring criteria.

Vendor Summary Report: E-Procurement SolutionMap℠ Q4 2017 [PRO]

This SolutionMap℠ analyzes a select group of E-Procurement solution providers. It is part of our Q4 2017 SolutionMap report series, also featuring Spend Analytics, Sourcing, Supplier Management, Contract Management and Invoice-to-Pay providers. Our Q4 release also features SolutionMaps for Procure-to-Pay and Strategic Procurement Technology suites.

Summary

Spend Matters tracks over 50 procure-to-pay solution providers. This analysis features many of the largest e-procurement providers, including Basware, BuyerQuest, Coupa, Determine, GEP, IBX, Ivalua, Nimbi, SAP Ariba, Vroozi, Wescale and Zycus. Data from other providers is also included in our SolutionMap scoring benchmarks. Among the providers featured, this SolutionMap release includes select industry and specialty capability of providers, although it does not specifically highlight them in a specific “Persona” (a change from our last SolutionMap release).

Scoring and Ratings Inputs

SolutionMap ratings provide comparative rankings and insight into how each provider scored from a Solution perspective and Customer Value perspective. It provides a breakdown of Solution scoring for each vendor on an overall category level. This includes each provider’s comparative capability to support:
  • Catalog management
  • Shopping / requisitioning
  • Ordering / order management
  • Receiving
  • Supplier network
  • Configurability
  • Technology / architecture
  • Services
Solution scoring is based on analysis of individual vendor capability, including in-depth technology reviews, a highly detailed Spend Matters RFI and live demonstrations and Q&A by the Spend Matters team. The Customer Value score stems from aggregated direct customer input (survey-based). The SolutionMap also provides insight into how customers scored each Supplier Management vendor based on a Customer Value scorecard (e.g. likelihood of recommending the provider, level of value perceived, business value, ability to meet expectations, deployment speed, ROI, TCO and innovation). Spend Matters SolutionMap database includes over 275 customer references collected in 2017. Intentionally our “map” approach does not “co-mingle” Solution and Customer Value scoring, allowing readers to prioritize what matters most to them. Using SolutionMaps While Spend Matters does not recommend that existing and potential customers of providers use technology and customer scoring alone to shortlist and/or evaluate technology providers, the insight, along with SolutionMap persona-based ratings, provides a point-in-time perspective which may be useful as either a starting point in an evaluation or a contributing factor to a formal software selection process. Going Deeper in the Data Spend Matters reserves its most granular level of scoring and analysis for our practitioner advisory clients, and we invite procurement organizations to contact us for more information. For example, Spend Matters maintains detailed scoring insights and ratings in specific areas such as shopping / requisitioning (e.g., requisitioning set up, marketplace user interface, marketplace dashboard, profiles, search engine, third-party content, requisitioning process, systems integration, non-catalog, services requisitions, preferred supplier management, repetitive requisitions, help and support, shopping cart / checkout process, approval process / approval engine, guided buying, sourcing integration, requisitioning budget checking process, requisitioning inventory checking process, mobility, analytics, multi-currency / languages). This allows us to provide highly granular insight into how specific solutions compare to both an industry standard Spend Matters benchmark and peer group / competitive vendors, for each of these areas to support technology selection processes. We allow PRO subscribers — and on a much deeper level, our practitioner advisory clients within procurement organizations going through a selection process — to get into the data as much or as little as they require.

Vendor Summary Report: Procure-to-Pay Suites SolutionMap℠ Q4 2017 [PRO]

purchasing

This SolutionMapSM analyzes a select group of procure-to-pay solution providers. It is part of our Q4 2017 SolutionMap report series, also featuring spend analytics, sourcing, supplier management, contract management, e-procurement and invoice-to-pay providers. Our Q4 release also features SolutionMaps for Strategic Procurement Technology suites.

Summary

Spend Matters tracks more than 50 procure-to-pay solution providers. This analysis features many of the largest invoice-to-pay providers, specifically Basware, Coupa, Determine, GEP, Ivalua, SAP Ariba, Vroozi and Zycus. Data from other providers is also included in our SolutionMap scoring benchmarks. Among the providers featured, this SolutionMap release includes select industry/specialty capability of providers, although it does not highlight them in a specific persona, a change from our last SolutionMap release.

Scoring and Ratings Inputs

SolutionMap ratings provide comparative rankings and insight into how each provider scored from a Solution perspective and Customer Value perspective.

It provides a breakdown of Solution scoring for each vendor on an overall category level. This includes each provider’s comparative capability to support:
  • Catalog management
  • Shopping/requisitioning
  • Ordering/order management
  • Receiving
  • Invoice structure/capture
  • Invoice collaboration
  • Compliance
  • Additional invoicing technology components
  • Financing
  • Payment
  • Supplier network
  • Configurability
  • Technology/architecture
  • Services
Solution scoring is based on analysis of individual vendor capability, including in-depth technology reviews, a highly detailed Spend Matters RFI and live demonstrations and Q&A by the Spend Matters team. The Customer Value score stems from aggregated direct customer input (survey based).

The SolutionMap also provides insight into how customers scored each Supplier Management vendor based on a Customer Value scorecard (e.g., likelihood of recommending the provider, level of value perceived, business value, ability to meet expectations, deployment speed, ROI, TCO and innovation). The Spend Matters SolutionMap database includes more than 275 customer references collected in 2017.

Our “map” approach intentionallt does not “co-mingle” Solution and Customer Value scoring, allowing readers to prioritize what matters most to them.

Using SolutionMap

While Spend Matters does not recommend that existing and potential customers of providers use technology and customer scoring alone to shortlist or evaluate technology providers, the insight, along with SolutionMap persona-based ratings, provides a point-in-time perspective that may be useful as either a starting point in an evaluation or a contributing factor to a formal software selection process.

Going Deeper in the Data

Spend Matters reserves its most granular level of scoring and analysis for our practitioner advisory clients, and we invite procurement organizations to contact us for more information.

For example, Spend Matters maintains highly granular scoring insights and ratings in specific areas such as supplier network capability (e.g., supplier on-boarding, supplier information management, supplier performance and risk management, catalog management, order management, invoicing, other supplier network value-added services and ability to connect to multiple networks).

This allows us to provide highly granular insight in how specific solutions compare to both an industry standard Spend Matters benchmark and peer group/competitive vendors for each of these areas to support technology selection processes. We allow PRO subscribers — and on a much deeper level, our practitioner advisory clients within procurement organizations going through a selection process — to get into the data as much or as little as they required.

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

No two procurement 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.

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, procurement organizations 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.

To that end, we are excited to preview our approach to Spend Matters SolutionMapTM, 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, 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 e-procurement 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 multi-part Spend Matters PRO analysis shares five of the most common customer personas in e-procurement and invoice-to-pay (the two segments that comprise the P2P market), with a look here at e-procurement. 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 e-procurement. 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).

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).

Zycus Horizon 2017 Dispatch: Exploring Zycus’ Products and Modules Across Source-to-Pay

Earlier in the week on the mainstage at Zycus Horizon, Aatish Dedhia, Zycus’ founder and CEO, provided an overview of his firm’s current and emerging product footprint. The suite is “comprehensive,” to use a word Dedhia favors in describing it. To his credit, Zycus arguably offers one of the broadest suites available today, albeit with varying degrees of depth and comparative functionality. While our definition of what falls into a particular module or another may differ from how various providers define it, here’s how Zycus explains its footprint today.

Star Wars Mouse Pads and a Golden Pencil: What’s the Strangest Purchase You’ve Been Asked to Approve?

Earlier this week, I moderated a webinar with Procurify customer Lynn Gabriel, COO of Mainstream Fiber Networks, about her experience with implementing spend management technology for the first time (watch the webinar here). In explaining the change management process, Lynn mentioned the importance of helping employees understand cost savings measures within the organization and told a funny story: one of her employees submitted an approval for a $30 Star Wars mouse pad, insisting that it would help him be infinitely more productive on the job. (Needless to say, it was not approved.)

Q&A with Eric Wilson, Basware’s VP of P2P: Can We Teach Machines to Get It Right 99% of the Time?

NLP

In Part 1 of our conversation with Eric Wilson, VP of P2P at Basware, we dug into the links between data and AI — is data the be-all, end-all behind AI advancements? What does one do with the data once they get it? And how best to manage it? In this second installment, we get a bit beyond the data collection and management, and more into how context and eventual wisdom play into it — and whether those are even truly attainable.

Sponsored Article

Calculating Current Procurement Costs and Potential Savings to Make a Case for Automation

AnyData Solutions

Making a case for automation can seem like a daunting task. Procurement professionals must find clear, compelling ways to communicate the potential savings and benefits of P2P automation to their organization’s decision-makers. In a conversation with PayStream Advisors, Paramount WorkPlace CEO Salim Khalife explained that the first step organizations should take when considering automation is “to make sure that their house is in order” by ensuring internal adoption and management buy-in — but how can this be done?

Spend Management Platforms: No Longer Just for the Big Boys

Procurement organizations large and small all have issues they need help with. The problem is not all of them realize it. For reasons from pressure to secure cost savings to lack of qualified resources, many procurement groups remain blind to process inefficiencies or daily headaches that could be easily relieved: misplaced purchase orders, byzantine spreadsheets, forgotten contract renewals, papers stacked to the ceiling. These were and continue to be real issues that plague procurement organizations. Unfortunately, small and middle-market firms have found themselves locked out of the opportunities that technology such as spend management platforms offer procurement.

Sponsored Article

Evolving Indirect Purchasing: Traditional vs. Real-Time E-Procurement

We live in a world that increasingly demands immediate information and results — from streaming players (Roku, Apple TV) and cell phone apps, to two-hour deliveries for online orders and voice-assisted technologies (Amazon Echo, Google Home, Siri). People expect easy, comprehensive and accurate responses “in the now” for everything they do. The consumer expectations of “in the now” extend into the work environment, as well, where employees are often frustrated to find business systems and processes that fall short on the promise of delivering easy, comprehensive and accurate information on demand. Employees’ increased expectations for getting things fast and accurate is outpacing the traditional ways of doing business.