The Invoicing Category

2017 Best Practice Predictions: Disrupting E-Procurement and Invoice-to-Pay with Technology

How important is technology to procurement? In a word: quite. And it’s not as if there aren’t enough to keep tabs on, running the gamut from cloud, B2B connectivity, user-designed solutions, analytics and artificial intelligence/machine learning — many of which are already influencing today’s cutting-edge offerings. To help practitioners wrap their heads around it all, the Spend Matters Analyst Team has penned a new report, "E-Procurement and Invoice-to-Pay Disruption: 'Best' and 'Next' Technologies," that shares summary insights into the technology, product and functional levels of “best” practices today and tomorrow’s “next” practices for procure-to-pay (P2P) solutions.

Vestas Meets SirionLabs: A Contract Management Case Study

wind power

What happens when a 120-year-old Danish wind energy company entrusts its contracts to a then three-year-old American solution provider? The companies in question are Vestas, which traces its lineage back to 1898, and SirionLabs, a contract management provider that goes all the way back to 2012. Last year, Jason Busch analyzed SirionLabs’ solution for Spend Matters PRO, and he concluded that the vendor would be a good fit for companies with “multi-year strategic supplier relationships encompassing complex services and solutions,” for whom “insufficient supplier governance is leading to lost savings and value creation opportunities.” This certainly sounds like Vestas’ situation before 2015, when the company implemented Sirion.

Been Stuck in a Cave? Well, ICYMI: Spend Matters’ P2P SolutionMap

Unless you’ve been stuck in a cave, sheltered from procurement and supply chain industry news for the last three weeks, you may have noticed Spend Matters’ rollout of the Procure-to-Pay SolutionMap — comparative rankings of technology vendors offering e-procurement, invoice-to-pay and procure-to-pay suite solutions. To help quick-guide you through the SolutionMap, we’re offering you a couple Choose Your Own Adventure-style options.

Procure-to-Pay (P2P) SolutionMap℠: 8 Vendors Ranked by Practitioner Persona

Huzzah! The rankings and comparative graphics for the third and final solution area — procure-to-pay (P2P) suites — of our SolutionMap℠ Q2 2017 report have finally arrived. With these last 6 'quadrant'-like comparisons, the Spend Matters Analyst team has now provided a holistic look at a number of technology vendors providing e-procurement and invoice-to-pay solutions, as well as procure-to-pay suites.

What You Need to Know About SolutionMap

  • Participating vendors are scored both on Solution Capability and on Customer Value.
  • SolutionMap features vendor rankings based on common procurement organization “personas” (more below).
  • The SolutionMap will be updated quarterly to actively reflect market developments.
  • SolutionMap graphics and high-level summaries are available for free and we encourage you to re-post and share them with your network.
  • If interested in digging deeper into the back-end data and listings of typical user requirements, vendor selection tips and background on the vendor rankings, subscribe to Spend Matters PRO for full access.

What Say? Personas?

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 that reflects its value proposition, solution strategy and targeted customer segments.

Procurement organizations should seek providers whose personas best align to theirs. Here are our six personas:

  • Nimble
  • Deep
  • DIY
  • Mega
  • ERP Wrapper
  • Industry

More detail on these in the full article — log in or sign up for FREE below.

The Procure-to-Pay SolutionMap – Q2 2017



Access the additional 5 graphics by persona (including an all-in-one PDF) and a summary of the personas' key criteria in the full article.

Vendor Summary Report: Procure-to-Pay SolutionMap℠ Q2 2017 [PRO]

This SolutionMap analyzes a select group of procure-to-pay solution providers. It is part of our Q2 2017 SolutionMap report series, also featuring e-procurement and invoice-to-pay solution providers individually (including an expanded set of providers in each area).

Spend Matters tracks more than 50 procure-to-pay solution providers. This analysis features many of the largest procure-to-pay providers, specifically Coupa, Determine, GEP, Ivalua, Pool4Tool, SAP Ariba, Vroozi and Zycus. We will be adding additional providers for the Q3 and Q4 2017 updates (as well as in 2018 and beyond).

SolutionMap ratings provide comparative rankings and insight into how each provider scored from a solution and customer value perspective. It provides a breakdown of solution scoring for each vendor on the category level (e.g., catalog management, shopping/requisitioning, ordering/order management, receiving, supplier network, configurability, technology/architecture and services, invoice structure/capture, invoice collaboration and compliance, additional invoicing technology components, financing/payment, supplier network, configurability, technology/architecture and services). It also provides insight into how customers scored procure-to-pay vendors (e.g., likelihood of recommending the provider, level of value perceived, business value, ability to meet expectations, deployment speed, ROI, TCO and innovation).

Solution scoring is based on analysis of individual vendor capability, including in-depth tech 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).

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’s 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.

More detailed information on comparative technology subcategory-level scoring can be found in individual Spend Matters PRO SolutionMap Vendor Analyses (publishing in April 2017). Spend Matters reserves its most granular level of scoring and analysis for its practitioner advisory clients, and we invite procurement organizations to contact us for more information.

What is Your Procure-to-Pay Persona? Understand Your Requirements and Mass Customize Your Vendor Shortlist [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 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 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 Spend Matters SolutionMap vendor comparison ranking, for procure-to-pay solutions (publishing in the coming days, with subsequent quarterly updates), 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.

Invoice-to-Pay (I2P) SolutionMap℠: 10 Vendors Ranked by Practitioner Persona

This particular SolutionMap charts a select group of invoice-to-pay (I2P) solution providers. It is part of our Q2 2017 SolutionMap report, also featuring e-procurement solution providers and procure-to-pay suites (coming next week).

What You Need to Know About SolutionMap

  • Participating vendors are scored both on Solution Capability and on Customer Value.
  • SolutionMap features vendor rankings based on common procurement organization “personas.”
  • The SolutionMap will be updated quarterly to actively reflect market developments
  • SolutionMap graphics and high-level summaries are available for free and we encourage you to re-post and share them with your network
  • If interested in digging deeper into the back-end data and listings of typical user requirements, vendor selection tips and background on the vendor rankings, subscribe to Spend Matters PRO for full access.

The Invoice-to-Pay SolutionMap – Q2 2017

Access the additional 5 personas (including an all-in-one PDF), a summary of their key criteria and more detailed info in the full article.

Vendor Summary Report: Invoice-to-Pay SolutionMap℠ Q2 2017 [PRO]

invoice

This SolutionMap analyzes a select group of invoice-to-pay solution providers. It is part of our Q2 2017 SolutionMap report series, also featuring invoice-to-pay solution providers and procure-to-pay suites.

Spend Matters tracks more than 50 procure-to-pay solution providers. This analysis features many of the largest invoice-to-pay providers, specifically Coupa, Determine, GEP, Ivalua, Invocus, Pool4Tool, SAP Ariba, Taulia, Tradeshift and Vroozi. We will be adding additional providers for the Q3 and Q4 2017 updates (as well as in 2018 and beyond).

SolutionMap ratings provide comparative rankings and insight into how each provider scored from a solution and customer value perspective. It provides a breakdown of solution scoring for each vendor on the category level (e.g., invoice structure/capture, invoice collaboration and compliance, additional invoicing technology components, financing/payment, supplier network, configurability, technology/architecture and services). It also provides insight into how customers scored invoice-to-pay vendors (e.g., likelihood of recommending the provider, level of value perceived, business value, ability to meet expectations, deployment speed, ROI, TCO and innovation).

Solution scoring is based on analysis of individual vendor capability, including in-depth tech 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).

What is Your Invoice-to-Pay Persona? Understand Your Requirements and Mass Customize Your Vendor Shortlist [PRO]

e-invoicing

No two accounts payable, finance or shared services organizations are alike (or procurement departments, for that matter). 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 that reflects its value proposition, solution strategy and targeted customer segments. Therefore, finance and 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 accounts payable, working capital and 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 Spend Matters SolutionMap vendor comparison ranking for invoice-to-pay and procure-to-pay solutions (publishing next week, with subsequent quarterly updates), 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 invoice-to-pay 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 six of the most common customer personas in invoice-to-pay buying needs. Aimed at practitioners as well as vendors and the consultants advising them, this research brief will be helpful to drive the type of “mass customization” of procure-to-pay solutions needed to meet specific organizational needs.

Below, we present our six personas for invoice-to-pay. For each, we include: full definitions, typical organizational priorities (based on each persona), functional/solution and customer value emphasis and recommended selection processes. Comparative vendor rankings will be published for each persona next week on Spend Matters (and updated quarterly).

E-Procurement SolutionMap℠: 14 Vendors Ranked by Practitioner Persona

Behold, Spend Matters’ very first SolutionMap℠. This particular SolutionMap charts a select group of e-procurement solution providers. It is part of our Q2 2017 SolutionMap report, also featuring invoice-to-pay solution providers and procure-to-pay suites.

What You Need to Know About SolutionMap

  • Participating vendors are scored both on Solution Capability and on Customer Value.
  • SolutionMap features vendor rankings based on common procurement organization “personas.”
  • The SolutionMap will be updated quarterly to actively reflect market developments
  • SolutionMap graphics and high-level summaries are freely available and we encourage you to re-post and share them with your network
  • If interested in digging deeper into the back-end data and listings of typical user requirements, vendor selection tips and background on the vendor rankings, subscribe to Spend Matters PRO for full access.

The E-Procurement SolutionMap – Q2 2017

Access the additional 5 personas (including an all-6-in-one PDF), a summary of their key criteria and more detailed info in the full article.

Vendor Summary Report: E-Procurement SolutionMap℠ Q2 2017 [PRO]

This SolutionMap analyzes a select group of e-procurement solution providers. It is part of our Q2 2017 SolutionMap report series, also featuring Invoice-to-Pay solution providers and Procure-to-Pay suites. Spend Matters tracks over 50 procure-to-pay solution providers. This analysis features many of the largest e-procurement providers, including BuyerQuest, Claritum, Coupa, Determine, GEP, IBX, Ivalua, Nimbi, Pool4Tool, SAP Ariba, Vroozi and Zycus. It also features industry specialists BirchStreet (hospitality) and Prodigo (healthcare), which were analyzed with respect to their vertical sector focus. SolutionMap ratings provide comparative rankings and insight into how each provider scored from a solution and customer value perspective. It provides a breakdown of solution scoring for each vendor on the category level (e.g. catalog management, shopping/requisitioning, ordering/order management, receiving, supplier network, configurability, technology/architecture and services). It also provides insight into how customers scored each e-procurement vendor (e.g. likelihood of recommending the provider, level of value perceived, business value, ability to meet expectations, deployment speed, ROI, TCO and innovation). Solution scoring is based on analysis of individual vendor capability, including in-depth tech 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). 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. In this Spend Matters PRO research report, we provide an analysis of how all 14 participants in our Q2 2017 e-procurement SolutionMap scored on a comparative basis against solution/technology and customer value criteria.

What is Your E-Procurement Persona? Understand Your Requirements and Mass Customize Your Vendor Shortlist [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 generic “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.

A modern procurement organization with a streamlined and tailored approach to influencing stakeholders is poorly served by buying a complex, one-size-fits-all application that puts off those stakeholders. Not enough procurement organizations look at an e-procurement application as their main business-facing interface — but it is.

The face a procurement organization presents to the business through an e-procurement application may vary. For the frontline business user, some e-procurement systems are extremely easy to use and may even suggest a lack of policy by procurement based on how they’re configured and put into the field. Others are more directive and prescriptive. Many e-procurement solutions serve as a portal to more than just transactional buying — for example, serving as a hub for all employee engagement related to supplier spending.

To that end, this multipart Spend Matters PRO analysis shares six of the most common customer personas in e-procurement and invoice-to-pay (the two segments that comprise the P2P market), starting first with a look at e-procurement. For each, we include: full definitions, typical organizational priorities (based on each persona), functional/solution and customer value emphasis and recommended selection processes.