The Invoicing Category

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.

BuyerQuest: Vendor Snapshot (Part 1) — Background & Solution Overview [PRO]

purchasing

There are those who believe the market for targeted (i.e., “point”) solutions in the broader source-to-pay area is becoming less important than an integrated suite approach. This observation is becoming even more important in typical customer buying decisions in cases of strategic procurement technology, such as analytics, supplier management and strategic sourcing, where more and more customers at least want the “option” to purchase an integrated suite. Yet for transactional procurement (e-procurement and invoice-to-pay) solutions today, the notion of selecting a vendor with a broader suite may or may not matter depending on what a procurement organization values most.

BuyerQuest is an upstart procurement software and solutions provider without a broader suite offering (outside of an expanding invoice-to-pay capability), albeit one that is building worldwide adoption and reach in the core areas on which it focuses. Its entire focus is on developing specialized technology that it believes delivers a best-in-class procure-to-pay (P2P) experience for users and procurement organizations, based on a unique underlying architecture built entirely with supporting a B2C user experience in mind.

This Spend Matters PRO Vendor Snapshot provides facts and expert analysis to help procurement organizations make informed decisions about BuyerQuest and whether its capabilities are a fit for their needs. Part 1 of our analysis provides a company background and detailed solution overview, as well as a summary recommended fit suggestion for when organizations should consider BuyerQuest in the procurement technology and solutions area. The remaining parts of this research brief will cover product strengths and weaknesses, competitor and SWOT analyses, and insider evaluation and selection considerations.

The P2P Primer: An Introduction to E-Procurement and Invoice-to-Pay

e-invoicing

Combine the e-procurement and invoice-to-pay technology markets, and what you have is the P2P market, or procure-to-pay. The P2P market comprises hundreds of providers, as well as numerous sub-sectors such as catalog management, supplier networks, trade financing and supplier-side e-commerce. Today, we’ll address e-procurement and invoice-to-pay individually in this quick and dirty guide to P2P.

Coupa Release 17 Dropped This Week, and Other Top P2P Takeaways

purchasing

Coupa made some waves earlier this week with its first cloud platform update of the year — the “sector-news pinnacle” of a very P2P-centric week here at Spend Matters. Xavier Olivera and Spend Matters Founder Jason Busch also co-presented “2017: The Most Disruptive Year in P2P Ever?” last Wednesday in a live webinar, which is now available on demand.

Basware: The Finnish Procure-to-Pay Giant — Year-End Tech Review

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This post is part of our 2016 Year-End Procurement Tech Review, in which we offer procurement practitioners a bird’s-eye view of some key vendors and their solutions in select categories. This is the last week of this series, and today we’re highlighting a company in the procure-to-pay (P2P) field.

Basware is one of the largest technology providers in the global procurement and accounts payable technology market. Its solutions span the entire procure-to-pay process, from requisition through payment and post-transaction analysis, and includes the Basware Commerce Network (BCN), which has over 100 million annualized transactions. The network is growing, and Basware expects to process 250 million transactions annually within three years.

Transcepta: A Procurement Technology “Best Kept Secret” — Year-End Tech Review

e-invoicing

This post is part of our 2016 Year-End Procurement Tech Review series, in which we offer procurement practitioners a bird’s-eye view of some key vendors and their solutions in select categories. Today we’re highlighting a company in the e-invoicing space.

Transcepta, a closely held business, was founded over a decade ago. Throughout this time, the provider has focused on building and expanding its global supplier network capabilities to support vendor onboarding and e-invoicing efforts, including most recently in the invoice discounting and trade financing areas.

Supplier Readiness and E-Invoicing in Latin America

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As we have seen in Part 1 and Part 2 of this series, e-invoicing has produced great benefits for governments in terms of tax collection and streamlining its own control processes, for which they have implemented mechanisms that companies must comply with, ranging from the simple to the complex. For both buyers and suppliers, this represents a new technological challenge — especially for companies with operations in multiple Latin American countries.

E-Invoicing Compliance and What It Means in Latin America

Brazil

E-invoicing in Latin American countries differs significantly from other parts of the world. Invoicing and tax compliance regulations are also completely different from country to country in this region. In this second installment of our series covering e-invoicing in Latin America, we compare Latin American e-invoicing practices with other parts of the world, discuss the importance of compliance for global organization with operations in Latin America and detail some country specifics about e-invoicing documents and regulations.

Accounts Payable: The New Tax Department

Spend Matters welcomes this guest post from Steve Sprague, vice president of product strategy at Invoiceware International.

As governments worldwide continue the fight against tax fraud, they are requiring more and more data from enterprises, even down to the individual invoice level. In fact, a recent EY survey on “VAT/GST electronic filing and data extraction” reported that 16 countries currently require taxpayers to submit individual tax invoices to the tax authority — and that number is only showing signs of growing.