Sourcing Content

SolutionMap: 58 Procurement Software Companies Ranked (Q1 2019 Update)

Q1 2019 Spend Matters SolutionMap procurement software company rankings

Spend Matters today released its Q1 2019 SolutionMap, ranking 58 procurement software companies across 12 solution categories, including E-Procurement, Sourcing, Spend Analytics, Supplier Relationship Management, Contract Lifecycle Management and Contingent Workforce & Services. Click on this article to see how to access rankings for free!

Q1 2019 Sourcing: Provider Scoring Summary

This SolutionMap analyzes a select group of sourcing providers. It is part of our Q1 2019 SolutionMap report series, also featuring spend analytics, contract management, supplier relationship management and risk (SRM), e-procurement and invoice-to-pay providers. SolutionMap also features procure-to-pay and strategic procurement technology suites.

Q1 2019 Source-to-Pay (S2P): Provider Scoring Summary

This SolutionMap analyzes a select group of source-to-pay solution providers. It is part of our Q1 2019 SolutionMap report series, also featuring spend analytics, sourcing, supplier management, contract management, e-procurement and invoice-to-pay providers. Our Q1 release also features SolutionMaps for Strategic Procurement Technology suites.

Q1 2019 SolutionMap Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management and Strategic Procurement Technology Suite Release Notes

Q1 2019 Spend Matters SolutionMap procurement software company rankings

This Spend Matters SolutionMap Insider release note provides insight into the Q1 2019 SolutionMap release for Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management, and Strategic Procurement Technologies Suite SolutionMaps, reviewing the process we follow and highlighting what has changed since the last release. Mainly, 56 new or refreshed customer references were added in the Strategic Procurement Technology areas for Q1. No new providers were added for Q1, but will be added for the Q2 2019 cycle. This SolutionMap Insider release note explores these and additional changes in the Q1 2019 SolutionMap release.

Q1 2019 SolutionMap Source-to-Pay Release Notes

Q1 2019 Spend Matters SolutionMap procurement software company rankings

This Spend Matters SolutionMap Insider release note provides insight into the Q1 2019 SolutionMap release for Source-to-Pay, reviewing the process that we followed for this quarter’s release.

The providers in the Q1 2019 Source-to-Pay SolutionMap include Coupa, Determine, GEP, Ivalua, SAP Ariba, SynerTrade and Zycus. All of these providers were required to participate in SolutionMap for each underlying module, as well. These individual areas include Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management, E-Procurement and Invoice-to-Pay. All of these providers are also included in the individual Strategic Procurement Technologies (SPT) and Procure-to-Pay (P2P) suite views.

This SolutionMap Insider research note provides insight into these and additional considerations in the Q1 2019 SolutionMap release. The Source-to-Pay customer data set is composed of a subset of the 600+ individual organization references included in the overall SolutionMap scoring as of Q1 2019*.

*Customers using more than one module that a vendor provides can opt to fill out a single survey within each individual suite area (e.g., a customer using two modules for P2P and four modules for SPT would need to fill out only two surveys).

Enterprises’ Use of Contingent Workforce Grows and Business Case is Strong, The Economist’s Research Arm Finds

talent management

Most procurement practitioners and contingent workforce managers won’t be surprised by the assertion that employing contingent workers can have a significant upside for companies despite some costs and a fair amount of preparation, which remains to be done, according to The Economist Intelligence Unit’s February 2019 report, “Sourcing and Managing Talent in a Gig Economy.” But it's interesting to see how the perception of this sector is developing and to gain a few more insights.

AI in Supplier Discovery: Tomorrow [PRO]

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In Spend Matters’ last PRO article for the AI in Supplier Discovery series, we overviewed some situations where you can find it today, or at least functionality that looked like it was enabled by artificial intelligence (even if it was not), and set ourselves up for a discussion of true AI that is going to creep into supplier discovery platforms tomorrow.

However, when we say true AI, we mean the definition of AI as “assisted intelligence,” because there is no true artificial intelligence out there and probably won't be for a very long time (with some futurists conjecturing it will be 2060 before machines are as smart as the dumbest of us). Note that we don't even mean “augmented intelligence,” as even though the platforms will augment your knowledge, it will still be up to you to make the right, intelligent, decisions tomorrow. (And maybe the day after that, but that is a subject for our next article.)

In our last article, we reviewed the capabilities of the leading discovery platforms today, which mainly revolved around:

  • Smart search
  • Community intelligence

...and the intersection of both.

We discussed how the improvements in computing power and web-usability made it possible for platforms to implement better and more powerful search algorithms that actually made searches useful across wide supplier directories and networks; how community intelligence allowed an organization to quickly narrow potential supplier pools down to reasonable sizes; and how the intersection allowed for the definition of "like" searches that could not be done before now.

But as of today, those "like" searches are still pretty high level. And they are best at finding suppliers that provide finished products and services that can be well-defined and compared to other suppliers that provide similar finished products and services. In fact, most systems with "like" searches are for the identification of suppliers for indirect. Not direct. (And not services either.)

But that is going to change tomorrow. Tomorrow, supplier discovery systems are going to support:

  • deep capability match that uses bill of materials, production requirements and other deep factors to support supplier search for direct suppliers
  • resource capability match that can identify needed skill sets, knowledge and related attributes for services suppliers

And we'll finally have smart supplier search for all. But how will it happen? And what will it look like? Let's explore.

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.

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.

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.