Procurement Systems & Architecture Content

After EcoVadis’ Sustain 2019: Product Strategy, Roadmap and Prospect/Customer Analysis (Part 3) [PRO]

EcoVadis, which provides vendor ratings and scorecarding for sustainability and broader CSR metrics as a component of an integrated “many-to-many” supplier network and platform, has an aggressive product roadmap to expand how users interact with and leverage the supplier intelligence, which is at the very core of its value proposition.

Today, in this final installment in this Spend Matters’ PRO series based on our analysis from the EcoVadis Sustain 2019 customer event, we turn our attention to the future direction of where EcoVadis is expanding its capabilities. We also include customer/prospect recommendations.

In previous Spend Matters PRO coverage on EcoVadis, we offered a recap and update on the provider’s most recent capabilities and solution footprint — and an analysis of where EcoVadis fits in the broader supplier management and supply chain risk management landscape.

Sourcing Optimization Should Be Accessible, Flexible: The Case for Rethinking a Misapplied Technology

Sourcing optimization can and should be applied more broadly to a variety of sourcing scenarios, bringing a simpler approach and guided exploration — designed with the everyday sourcing user in mind. With the value it can bring to categories and customers alike, why should sourcing optimization remain out of reach beyond the most complex logistics bids?

To understand how this situation arose, it helps to consider the rationale behind how first-generation sourcing optimization solutions were designed.

Oracle’s Modern Business Experience Event: What’s On Our Mind This Week

Spend Matters analyst Xavier Olivera and I are attending Oracle’s Modern Business Experience event this week in Las Vegas. Procurement is well represented as a component of supply chain, with over 30 breakout sessions and other activities catering to purchasing, supply management and spend management-related areas. In addition, there are numerous sessions on blockchain, the internet of things (IoT) and related subjects that overlap with procurement.

We’ll attempt to cover as much as we can from the event this week and next. But here are some questions that we have on our mind as the festivities kick into high gear:

Sponsored Article

E-invoice Sending is Accelerating — Are You Ready?

Companies gain tremendous benefits from sending e-invoices to their customers — from streamlining processes to increasing efficiency, decreasing costs, speeding up payments, and gaining visibility and control. Plus, your customers can receive their invoices via their preferred channel and in any digital format. Wherever your organization is in its automation journey, read on to learn the benefits of going electronic and understand what the upcoming regulatory implementations mean for you.

K2 Sourcing: Vendor Introduction, Analysis and SWOT [PRO]

The history of e-sourcing software stretches back to before the dot-com bubble burst, yet few of the original providers of RFX and auction management tools exist today as they did at their inception.

Some were bought and consolidated into the mega organizations we know today (e.g., SAP Ariba, which acquired FreeMarkets and Procuri), while others have slowly drifted into oblivion (RIP Emptoris). The result is that, with a few notable exceptions, procurement organizations today have few choices for standalone providers of e-sourcing tools.

One of those remaining options is K2 Sourcing, a provider of RFX and auction management software that has quietly served mid-market procurement organizations since 2003. Based in the Milwaukee area, K2 grew out of its founder’s frustrations as a procurement professional with the RFX and reverse auction platforms available then.

The young provider set out with one of the first cloud-based solutions in the space with a goal to “create the fastest, easiest and most transparent method for buyers to screen and select suppliers.” And while a lot has changed in the procurement and technology worlds in the past 16 years, K2 has managed, through a combined offering of subscription software and supporting sourcing services engagements, to build a stable and respectable client base, counting brands as varied as Verifone, Lozier Corp., Big Lots, Milwaukee Tool, Tempur Sealy, Kaiser Permanente and others.

This Spend Matters PRO Vendor Introduction offers a candid take on K2 Sourcing and its capabilities. The brief includes an overview of K2 Sourcing’s offering, a breakdown of what is comparatively good (and not so good) about the solution, a SWOT analysis and a selection requirements checklist for companies that might consider the provider.

Sponsored Article

Learn the Best Practices for Integrating Your E-procurement System with Amazon Business

BuyerQuest

To automate your procure-to-pay processes, your business will need to integrate your e-procurement systems with the online catalogs of your contracted suppliers.

Amazon Business launched in 2015 with a vision to give businesses a simple, personalized and transparent online B2B experience. An extension of this vision was to simplify the integration for businesses connecting their e-procurement systems to Amazon Business, while giving them access to a broader selection of products and sellers.

This article will highlight the best practices for integrating your e-procurement system with Amazon Business.

WPS Management (Wescale): Vendor Snapshot (Part 3) — Summary and Competitive Analysis  [PRO]

Procurement organizations today don’t have to do a lot of legwork to build an initial shortlist for choosing an e-procurement or procure-to-pay solution. A Google search will return dozens of companies vying for your business, and the Spend Matters SolutionMaps for E-Procurement and Procure-to-Pay Suites make the process even simpler, rating top providers of these solutions against specific organizational requirements based on buyer demographics and psychographics.

Figuring out the differences between all of these choices, however, is easier said than done.

One of the key ways procurement organizations can do this is by understanding what type of market a vendor seeks to address. Although in concept the potential market a vendor is targeting could appear similar to how others position their solutions, the reality is that each provider is unique in terms of their best-fit customers, their capabilities and the technological foundations of their platform.

This is especially true of Wescale, which provides P2P functionality fit for a variety of businesses through an open business integration platform approach (PaaS, or platform as a service) not commonly seen from e-procurement or P2P providers in the North American market. For that matter, Berlin-based Wescale is not commonly seen outside of Europe — but to the detriment of potential U.S. and global customers that might overlook it due to its primary geographic focus.

This third and final installment of this Spend Matters Vendor Snapshot covering Wescale, the branded name for WPS Management, includes an objective SWOT analysis of the provider and offers a competitive segmentation analysis and comparison. It also has a recommended shortlist of candidates as substitute providers to Wescale as well as provider-selection guidance. Finally, it offers a summary analysis and recommendations for companies that can best take advantage of Wescale’s capabilities.

Part 1 of this series provided an in-depth look at Wescale as a company and its specific solutions, and Part 2 gave a detailed analysis of its solution strengths and weaknesses as well as a review of the user experience.

3 More Ways Procurement Can Transform with CRM

Spend Matters welcomes this guest post from Sean Harley, co-founder and CEO of LUPR.

In his recent Spend Matters post, Stan Garber described how sales organizations have leveraged customer relationship management (CRM) platforms from providers like Salesforce to achieve higher levels of success. We would like to suggest three more features of CRM that are transformative for supply management.

Latest Procurement Technology Not Adopted Very Fast, LevaData Finds

Procurement executives may understand how key technologies like data analytics, artificial intelligence (AI) and machine learning (ML) can significantly improve their processes, but they don’t always turn that understanding into actionable adoption of those tools, according to a recent webinar on LevaData’s Cognitive Sourcing Study.

AI in Supplier Discovery: Today [PRO]

With this briefing on supplier discovery, we continue our series on AI in various source-to-pay technologies, which we started with AI in Procurement (Today Part 1 and Part 2, Tomorrow Part 1, Part 2 and Part 3, and The Day After Tomorrow) and continued with our recent series on AI in Sourcing (Today, Tomorrow Part 1 and Part 2, and The Day After Tomorrow) and AI in Sourcing Optimization (Today, Tomorrow and The Day After Tomorrow Part 1 and Part 2). The goal of this series is to define what is available with AI today, what will be possible tomorrow, and where the future may take us.

But first we must remind you of the status quo: Artificial intelligence does not yet exist, in the strictest definition of the term.

However, if you define AI as "assisted intelligence" (systems that can automate repetitive and standardized tasks performed by humans) or "augmented intelligence" (systems that can learn from humans and their data to provide insights that lead to, or recommend, better decisions), then there are technologies out there today that meet that need.

Today, the mainstream applications of AI in supplier discovery (which are, sadly, few and far between) generally fall into two categories, which themselves have limited functionality, but, there is still some functionality and it is a beginning.

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

Zycus is part of an exclusive club.

It is one of the few source-to-pay suite vendors on the market that can offer at least adequate functional support across all six modular areas that Spend Matters tracks for S2P using only its internally developed capabilities. This stands in contrast to several of its biggest competitors, which have to varying degrees of success acquired and integrated best-in-class vendors or other suites to bolster their own capabilities.

And while Zycus cannot today claim its technology runs its suite of applications on a single data model, more than 95% of the solution is unified, and when compared against the market, it generally presents broad-based and out-of-the-box capability. Its solutions not only provide strong baseline (sometimes above-the-benchmark) functionality but they come from a single provider that is responsible for making it all work together.

This Spend Matters SolutionMap analysis examines Zycus’ solutions by modular and suite view to help interested parties understand the best components that make up the vendor’s end-to-end offering. It provides insight into which areas Zycus is strong in (and where it lags), how competitive individual modules are compared with best-in-class alternatives, and how combinations in the form of procure-to-pay (P2P), strategic procurement technology (SPT) and source-to-pay (S2P) suites stack up in comparison to Zycus’ broader peer group, including Coupa, Jaggaer, SAP Ariba, Ivalua and SynerTrade.

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, also called the Solution scoring, 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 SynerTrade 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. Previously, we covered the suite performances of Jaggaer, SAP Ariba, Ivalua and Coupa.

WPS Management (Wescale): Vendor Snapshot (Part 2) — Product Strengths and Weaknesses [PRO]

FM Global Resilience Index

While not well known outside of the European market, Wescale delivers a unique set of procure-to-pay capabilities originally built from its e-procurement plumbing and catalog management roots as Wallmedien and WPS Management, now branded as Wescale.

For many years, we have watched with admiration as this R&D-centric provider has taken a road-less-traveled approach to enabling procurement users. But when it comes to procure-to-pay, where is it strong and where is it weak?

This Spend Matters PRO Vendor Snapshot explores Wescale’s strengths and weaknesses, providing facts and expert analysis to help procurement organizations decide whether they should consider the vendor. Part 1 of our analysis provided a company and detailed solution overview, as well as a recommend fit list of criteria for firms considering Wescale. The third part of this series will offer a SWOT analysis, user selection guide, competitive alternatives, and additional evaluation and selection considerations.