The Innovation Category

Jaggaer ONE: A Comparative Analysis of the S2P Suite (Source-to-Pay SolutionMap Analysis)

tech

When source-to-pay suite provider Jaggaer announced in early February the release of Jaggaer ONE, a platform that unifies the provider’s acquired solutions into a single offering, it took a big step forward in clarifying the firm’s strategy. Using a services-oriented architecture (SOA) that allows users to select discrete business processes (i.e., modules) from Jaggaer’s portfolio of technology solutions, Jaggaer ONE has articulated a vision for the company beyond bringing the code and customers from SciQuest, Pool4Tool and BravoSolution under one roof.

Jaggaer noted with the release of Jaggaer ONE that it is unifying three of its product lines — Jaggaer Indirect, Jaggaer Direct and Jaggaer Advantage — without moving them onto a single code base, allowing customers and prospects to select the best modules from each offering to fit an organization’s unique needs. It’s a cafeteria approach that allows clients to assemble a “synthetic” source-to-pay suite rather than wrestle with a patched-together “Frankensuite” (or “Frankensuite’s monster,” if you have to be that guy).

But with three distinct product choices that each cover some or all areas of the source-to-pay cycle, Jaggaer ONE presents opportunities for too much choice. How can current Jaggaer clients, prospective customers, systems integrators and consultancies determine which modules to select from the Jaggaer ONE portfolio, and how do the best-performing modules from Jaggaer ONE fare when compared against other market leaders for specific point or suite products?

This Spend Matters SolutionMap analysis examines Jaggaer’s solutions by modular and suite view to help interested parties understand the best components that make up Jaggaer ONE. It offers insight into which areas Jaggaer is strong in (and where it lags), and how competitive this SOA-unified suite is compared with other procure-to-pay (P2P), strategic procurement technologies (SPT) and source-to-pay (S2P) in comparison to its broader peer group including Coupa, Ivalua, Oracle, SAP Ariba, Synertrade and Zycus.

Overall, the results paint a comparatively promising picture for Jaggaer ONE on a functional basis, and our hats go off to the Jaggaer team for assembling such a robust set of suite building blocks — with additional enabling solutions for specific industries that extend beyond what SolutionMap even prioritizes as key ranking criteria.

For this analysis, our report uses the aggregate results of nine SolutionMaps from Q4 2018 (the most recent in our quarterly update cycle), comparing a total of 58 solution providers across more than 600 granular functional benchmarks, which are aggregated into more manageable, tiered buckets for the purpose of this analysis. (Those procurement organizations leveraging SolutionMap for a software selection process gain insight into comparative performance at a significantly more granular level of detail that maps business requirements to functional performance.) The SolutionMap analyst ratings used in this analysis are based on more than 3,000 hours of live product demonstrations and validated vendor RFI responses.

In subsequent briefs exploring Coupa, Ivalua, SAP Ariba and others, we will take a similar approach to analyzing source-to-pay providers, breaking down where end-to-end platforms excel (or fall below the functional benchmark) on module and suite bases.

Contract AI: How Legal Departments Evaluated, Use Artificial Intelligence Tools

Staples

A new report for Seal Software sheds light on how companies’ legal departments are preparing for or using the latest tools associated with artificial intelligence to analyze contracts for hidden opportunities and risks, according to the white paper by Ari Kaplan Advisors. Seal uses machine learning and other technology to review contracts, extract data and do analytics, the California-based company said in a news release. It all adds up to a “Contract AI” solution. Some respondents pulled back the curtain on how they’re deploying the technology.

AI in Optimization Today [PRO]

SciQuest

As we continue our investigation into AI in source-to-pay technology, which started with our AI in Procurement series and continued with our AI in Sourcing series, we take a deeper dive into optimization. Primarily the focus is on strategic sourcing decision optimization, but we'll discuss related areas as well.

First, let’s recap the status quo to remind us of the reason for the existence of these AI briefings.

AI, or artificial intelligence, does not yet exist, especially in the strictest definition of the term. Computers are not intelligent, not even artificially. They can do more calculations than ever before. They can take advantage of more data than ever before. They can find significantly more correlations than ever before and compute, with better and better statistical reliability, which are just correlations and which are true cause and effect relationships. But they are still, when you get right down to it, as dumb as door knobs. Probability is not intelligence. But it is damn good guidance.

In sourcing, logistics and supply chain, we are primarily concerned with decision optimization. Read on to find out the latest developments and expectations.

Supply Chain Finance Gets Faster, Cheaper with Technology Like Blockchain, IoT

Supply chain finance (SCF) has become increasingly common over the last decade, building off advances in technology in industrial monitoring and information sharing brought about by the proliferation of IoT and blockchain technology. As technology to facilitate supply chain finance proliferates at all levels, marginal gains become increasingly important.

Procurement Software Provider Xeeva Gets Another Patent to ‘Enrich’ Spend Data

contingent workforce

Xeeva, a provider of procurement and sourcing software, received another patent related to data management that uses artificial intelligence, the Michigan-based company said in a recent announcement. “The patent incorporates functionality for rapidly enriching data records to improve both quality and consistency,” the announcement said. With the increased digitalization of all businesses and the added use of connected  devices like the internet of things (IoT), more data is produced than ever, and businesses are having to find solutions that can make sense of it all.

Trends in E-Invoicing Compliance: Real-Time Tax Clearance and Transaction Automation

e-invoicing

Sovos TrustWeaver released the 10th edition of its paper analyzing the trends that are currently affecting global e-invoicing compliance. The new edition outlines a global trend toward real-time tax clearance of invoices and how it affects daily businesses’ operations and business-to-business transaction automation strategies. “This ... white paper on global e-invoicing is a treasure-trove of analysis and facts about the digital tax tsunami that few experts would disagree is now a solid global trend.”

Artificial Intelligence in Sourcing: The Day After Tomorrow [PRO]

In Spend Matters’ last PRO article about AI in Sourcing, we reviewed some of the exciting capabilities that you will be able to expect in tomorrow's e-sourcing systems, where we define AI as “augmented intelligence” because, as we've repeatedly stated in our articles in this ongoing AI series, there is no true artificial intelligence in any enterprise technology today. In fact, there won't be anything close, at least on the open market, even tomorrow. But it will be closer tomorrow, and it will approach the point where it can be labeled augmented intelligence as it will allow you to make better, smarter, decisions — no matter how good and smart the decisions were that you made in the past.

In the last article, we discussed the following augmented intelligence capabilities in particular that will be part of tomorrow's e-sourcing platforms:



  • Event-based category alignment
  • Market-based sourcing strategy identification
  • Automatic strategic sourcing events
  • Suggested award scenarios

However, as great as event-based category alignment and market-based sourcing strategy identification will be, and as fantastic as automatic strategic sourcing events with suggested awards will be, there will be even better augmented intelligence capabilities in the e-sourcing platforms of the future. Specifically, the day after tomorrow, you will be able to expect the following seemingly magical capabilities:

  • SKU replacement
  • End-of-life (EOL) recommendations for products
  • Real-time strategy alignment
  • Auto-pause/extend

And more. But anything beyond these could be quite a ways out, so we will stick to these for now.

Blockchain Update: The Power of Pairing It with IoT and Wider Adoption by NASA, Ford

Blockchain technology — with its shared, distributed ledger that allows users to collaborate and verify transactions — has companies searching for ways to deploy it in their supply chains and save money. Looking into the latest developments, it appears that blockchain holds a good amount of potential when paired with the internet of things (IoT), the devices that will measure processes or be deployed remotely via the internet for business uses. NASA, Ford and others have different ideas for blockchain.

Sponsored Article

The Past, Present and Future of the MSP Industry: A Visual Guide for Procurement

procurement consulting

As the world of work changes rapidly, so too must managed services providers (MSPs). The “same old” execution of a traditional contingent workforce program that includes VMS technology is no longer cutting it, and MSPs that fail to realize this risk being replaced by new entrants intent on disrupting the old industry model.

In a world of accelerating change, enterprises expect their service providers to be right there with them, successfully navigating those changes. Enterprises cannot compete with an eye on the past — they need value-added solutions that help them to succeed now and into the future. What does this look like? Check out the infographic below to learn how the MSP industry is evolving today and tomorrow.

An Introduction to Sourcing Business Intelligence (Part 3): Analytics and AI in a Sourcing Context [PRO]

In the third installment of this Spend Matters PRO series, we turn our attention to how traditional human intelligence and artificial intelligence intersect with sourcing business intelligence (BI), leading to a new type of cognitive procurement built on larger and larger data foundations.

We trace the evolution of select artificial intelligence (AI) applications in procurement that are generally available today and provide examples of models that are just becoming mainstream in select markets.

But most important, we show how it is possible to let a combination of off-the-shelf capabilities and “as a service” providers do the heavy lifting in the journey toward sourcing (business) intelligence and more broadly toward supply (business) intelligence.

Live Contracts: How Next-Gen CLM Solutions Will Make Contracts More Than Merely ‘Smart’

Enterprise contract management has become one of the hottest areas for digital investment, and rightly so. Because contracts form the foundational system of record for all commercial relationships, it stands to reason that, as business becomes increasingly digital, the foundation must also become digital to keep up.

Yet as companies move from storing contracts in filing cabinets to dedicated contract management software, another question arises: What next?

The advent of artificial intelligence-based technology offerings has promised procurement organizations an era of automated, “smart” contracts that execute predetermined actions when specified conditions are met. Such functionality is attractive, to be sure, but the scope of the smart contract concept is also inherently limiting.

To attain the true benefits that digital transformation is bringing to contract management, procurement organizations must go beyond simply making their contracts smart. Instead, they should strive for a more powerful paradigm: “live” contracts that convert their documents into living, adaptable tools for transaction acceleration, risk management and value creation.

Artificial Intelligence in Sourcing Tomorrow (Part 2) [PRO]

digital

In this Spend Matters PRO series on AI in Sourcing, we began our discussion of some situations where you will find AI in e-sourcing platforms, where AI is defined as “augmented intelligence” (because, as we have discussed in prior articles, there is no true artificial intelligence in enterprise platforms today and there won't be tomorrow either). AI is a buzzword, not a reality. But we don't need true AI to achieve software that can radically increase our productivity. Reaching augmented intelligence will add multiples to our productivity and savings.

In our last post, AI in Sourcing Tomorrow (Part 1), we discussed how the sourcing platforms of tomorrow will offer event-based category alignment functionality as well as market-based sourcing strategy identification. Together, these augmented intelligence features will not only save you a lot of time and effort in the identification and conducting of a proper sourcing event, but will also maximize your chances of success with the strategies that you follow.

It will be a magnificent start to the sourcing process. But it won't stop there. Because it can't stop there.

As per our article on AI in Sourcing Today, there's a lot of manual effort involved in a sourcing event. And the platforms of tomorrow will integrate workflow automation and auto-fill to handle a lot of the drudgery that will be required in any sourcing project.

However, just including workflow automation and auto-fill isn't getting you to sourcing utopia, where you’re getting maximum return for minimum effort. Something more is needed. How much more? Let's read on to find out.