The Spend Analysis Category

Jaggaer Advantage vs. Ivalua: Spend Analysis Head-to-Head Technology Evaluation and Comparison

Jaggaer Advantage, formerly BravoSolution, has been known for many years for its spend analysis functional prowess. But Ivalua has been somewhat of a well-kept secret among spend analysis software vendors, since the provider has not often emphasized this module alone, on a product basis, distinct from its best-in-class source-to-pay suite. Both Jaggaer Advantage and Ivalua bring a unique set of capabilities to spend analysis and related procurement software areas. And both beat the average functional benchmark score in Spend Matters Q2 2018 Spend Analytics SolutionMap. But how do they stack up against each other in a head-to-head bout?

Join us in this unfiltered SolutionMap results analysis from our Q2 2018 dataset, along with the commentary of the Spend Matters analyst team. These Head-to-Head columns share the insights of each quarterly SolutionMap report for SolutionMap Insider Subscribers, providing unique comparative cuts of SolutionMap benchmark data along with the trademark quips that Spend Matters was better known for in its early years. So buckle your seat belt, prepare for some real data and expect a few sparks to fly as we pit Jaggaer Advantage and Ivalua against each other in the spend analysis evaluation ring.

Not yet an Insider member? Here’s a preview: In four out of seven spend analytics categories — which include data layer, process support, technology and services — Jaggaer Advantage comes out on top (sometimes convincingly so). But in three areas, Ivalua delivers superior performance. And as you peel the onion between the two on a subcategory basis, the use cases for when one is likely a better fit than the other becomes clearer.

Overall, the results suggest that the right solution will vary based on different organizational requirements. There’s no debate that spend analytics selection processes will reward procurement organizations that tailor provider selection to their specific needs.

Program Management: The Missing Link in Procurement Technology Modules and Suites (Part 5 — Analytics Strategy) [PRO]

Procurement doesn’t just drive value through “steady state” sourcing activities that pop up in the enterprise. It helps lead the transformation of the extended value chain and also supports and improves enterprise-level transformation activities. In both cases, such transformational activities will require strong supply analytics that procurement organizations are increasingly supporting through procurement centers of excellence where analytics and market intelligence (especially for sourcing processes) occupy the top functions within a procurement CoE (see more on the topic of procurement CoEs).

Any experienced procurement professional knows that business alignment is critical. This alignment process inevitably leads to a set of enterprise-led (or procurement-led) programs that in turn require a set of analytics capabilities to support. In this Spend Matters PRO analysis, we’ll share:

  • A DuPont-style enterprise value decomposition to nearly two dozen enterprise programs and support supply analytics areas
  • How to frame supply analytics within an overall close-loop performance improvement cycle — and examples within each step of the life cycle
  • A drill down into some of the top enterprise programs into the specific analytics required
  • A further drill down and set of examples in some of the most used analytics

Jaggaer Indirect vs. Sievo: Spend Analysis Head-to-Head Technology Evaluation and Comparison

The bar for spend analysis software has risen considerably in recent years. Thanks to higher expectations for overall function enablement, enhanced reporting, artificial intelligence-based classification capabilities, and even predictive and prescriptive capabilities, a spend analysis tool designed even a few years ago may not stand the test of time as well as it might have in the past.

This makes the comparison between Jaggaer Indirect and Sievo all the more interesting. The good news for procurement organizations considering both solutions is that they perform at or above the Q2 2018 Spend Analytics SolutionMap overall — and individually help set the benchmark standard for certain areas. But how do they stack up against each other in a head-to-head bout?

Join us in this unfiltered SolutionMap results analysis from our Q2 2018 dataset, along with the commentary of the Spend Matters analyst team. These “Head-to-Head” columns share the insights of each quarterly SolutionMap report for SolutionMap Insider Subscribers, providing unique comparative cuts of SolutionMap benchmark data along with the trademark quips that Spend Matters was better known for in its early years. So buckle your seat belt, prepare for some real data and expect a few sparks to fly as we pit Jaggaer Indirect against each other in the Spend analysis evaluation ring.

Not yet an Insider member? Here’s a preview: In most spend analytics categories — which include data layer, process support, technology and services — Sievo comes out on top (sometimes convincingly so). But in at least one area, Jaggaer delivers superior performance. And as you peel the onion between the two on a subcategory basis, the use cases for when one is likely a better fit than the other becomes clearer.

SpendHQ: What Makes It Great (Spend Analytics SolutionMap Analysis)

Analytics

On its own, SpendHQ’s performance in the Q2 2018 SolutionMap for spend analytics technology and solutions is noteworthy (not only because it beats the functional benchmark for all five buying organization personas). But SpendHQ stands out even more from competitive spend analytics providers – and the broader procurement technology vendor crowd – because it has close linkages to its parent organization, Insight Sourcing Group.

This affiliation brings related capabilities, which expand on the value proposition of spend analysis to deliver rapid savings and continuous value creation opportunities (e.g., leveraged/GPO contracts and category specific solutions for energy), not to mention deep procurement transformation, strategic sourcing and category enablement services. As important, this relationship led to the design of a spend analysis solution which, on its own outside of ISG, is purpose-built to drive sourcing results and savings capture on a category-specific basis to clients.

In terms of targeted spend analytics technology and enabling services, as the Q2 2018 Spend Analytics SolutionMap benchmark provides evidence of, SpendHQ more than holds its own in a highly competitive market as a stand-alone provider. Its SolutionMap performance provides compelling evidence, based on both analyst ratings and customer reference scoring, that the provider is a “must” shortlist candidate for nearly all spend analytics buying scenarios. Join us in exploring what makes SpendHQ great, based on the latest functional and customer SolutionMap benchmarks from Q2 2018.

“What Makes It Great” is a recurring column that shares insights from each quarterly SolutionMap report for SolutionMap Insider Subscribers. Based on both our rigorous evaluation process and customer reference reviews, each brief explains how the provider excels and where it beats the SolutionMap benchmark, concluding with a checklist for ideal customer scenarios in which procurement, finance and supply chain organizations should consider the vendor.

Sievo: What Makes It Great (Spend Analytics SolutionMap Analysis)

For many years, best-in-class spend analytics providers would get their technologies and businesses to a certain point and then, on a clockwork basis, decide to sell themselves to broader procurement technology or business intelligence vendors. Sievo was, perhaps, the first provider we know to break the pattern of this trend, building an over $10MM business (and growing) specifically in the spend analytics market. We have the founders of Sievo to thank for staying the course – since they have given us an independent spend analytics solution that is one of the top ranked by both Spend Matters analysts and customers in the latest SolutionMap benchmark.

But Sievo is not like other spend analysis providers that beat the functional and customer satisfaction benchmark – at least not entirely. It has a unique set of capabilities, both functionally and from a broader services perspective, that enable it to serve multiple masters, including finance and supply chain organizations, addressing not only savings tracking that finance is willing to “sign-off” on, but also commodity management and volatility as well (the topic du jour in manufacturing these days, owing to tariffs, trade wars and general market volatility).

Perhaps it is no surprise, then, that Sievo outperforms most other spend analytics providers in the Q2 2018 Spend Analytics SolutionMap benchmark. Sievo’s Q2 2018 SolutionMap performance provides compelling evidence, based on both analyst ratings and customer reference scoring, that the provider is a “must” shortlist candidate for nearly all spend analytics buying scenarios. Join us in exploring what makes Sievo great, based on the latest functional and customer SolutionMap benchmarks from Q2 2018.

“What Makes It Great” is a recurring column that shares insights from each quarterly SolutionMap report for SolutionMap Insider Subscribers. Based on both our rigorous evaluation process and customer reference reviews, each brief explains how the provider excels and where it beats the SolutionMap benchmark, concluding with a checklist for ideal customer scenarios in which procurement, finance and supply chain organizations should consider the vendor.

SpendHQ vs. Zycus: Spend Analysis Head-to-Head Technology Evaluation and Comparison

Two decades ago, Zycus pioneered the original spend classification and spend analytics sector, providing companies with an alternative to Excel and Access for cleansing, classifying, enriching and analyzing spend data. At the time, what Zycus came up with would become a huge step forward not just for procurement technology but for procurement overall.

But since Zycus got its start, dozens of new entrants have pursued the spend analytics market, both independently and as part of broader firms. One of these entrants, SpendHQ, grew out of a consultancy, Insight Sourcing Group. Originally, ISG used SpendHQ as both an internal tool (by the ISG team) and as a leave-behind for procurement organizations. But today, SpendHQ is a stand-alone solution in its own right, with a growth rate significantly outpacing the market that has made it the first or second largest stand-alone spend analytics vendor. (We don’t count Zycus in this area anymore, since it has graduated to a full-fledged source-to-pay suite vendor.)

Both SpendHQ and Zycus beat the average functional benchmark score in Spend Matters Q2 2018 Spend Analytics SolutionMap. But how do they stack up against each other in a head-to-head bout?

Join us in this unfiltered SolutionMap results analysis from our Q2 2018 dataset, along with the commentary of the Spend Matters analyst team. These “Head-to-Head” columns share the insights of each quarterly SolutionMap report for SolutionMap Insider Subscribers, providing unique comparative cuts of SolutionMap benchmark data along with the trademark quips that Spend Matters was better known for in its early years. So buckle your seat belt, prepare for some real data and expect a few sparks to fly as we pit SpendHQ and Zycus against each other in the Spend analysis evaluation ring.

Not yet an Insider member? Here’s a preview: In certain spend analytics categories — which include data layer, process support, technology, configurability and services – SpendHQ comes out on top (sometimes convincingly so). But in others, Zycus delivers a superior performance (both by small and large margins, depending on area).

And overall, the results suggest that the right solution will vary based on different organizational requirements. There’s no debate that spend analytics selection processes will reward procurement organizations that tailor provider selection to their specific needs.

The Q2 2018 Spend and Procurement Analytics SolutionMap benchmark is now based on an underlying dataset featuring 11 separate providers, including nearly all of the must-shortlist invoice-to-pay technology providers procurement organizations can expect to consider in a typical selection process (as well as those they should consider but might overlook). Whether you’re in the market for a new invoice-to-pay product or just want to know if you made the right decision for your organization, our SolutionMap analysis and benchmark data can tell you the answer. Curious to learn more? Don’t hesitate to get in touch.

Sievo’s Data Management Services: ‘The Only Right Approach’ to a Standout Spend Analytics Capability  

big data

As procurement organizations have become increasingly global and digital, the amount of data they create has exploded. This has made finding and managing spend data all the more complicated, to say nothing of analyzing and making decisions based on that data. To keep up, procurement groups are increasingly investing in spend analytics tools, and the software market has responded in kind. New spend analytics vendors emerge each year, while suite providers continue to acquire leading providers, hoping to integrate standout capabilities into their offerings.

Between these upstarts and end-to-end offerings sits Sievo, one of the oldest independent providers in the market today. The Helsinki, Finland-based spend analytics provider has succeeded in its chosen solution area by continuously improving its product, using feedback from its customers to adapt its technology to changing procurement requirements.

So You Want to Buy Spend Analytics — Beyond Spend Cubes (Part 2) [PRO]

Analytics

In the first installment of this series, we outlined a handful of the key product differentiators that winnow the provider playing field down to those that can meet your needs. Today in the second part of this series, we’ll finish the discussion by moving into some extended spend analytics (i.e., beyond forensic spend history reporting) and broader supply analytics that are worthwhile to consider.

Why focus beyond basic spend analytics? The answer is simple: to find more value opportunities. And you don’t want to run out of runway with your current provider if you want to evolve your analytics journey beyond analyzing the “exhaust” of your value chain (i.e., spend).

But if you want to extract more value from your spend, you have to extract more insights around demand and from “supply” (i.e., categories, suppliers, costs and multitier value chains). With that, let’s dive into these areas.

So You Want to Buy Spend Analytics — Beyond Spend Cubes (Part 1) [PRO]

spend analytics

This is the second installment of our series focused on cutting through the noise and evaluating procurement solutions on the few key requirements that truly differentiate the providers in the marketplace today. Although it is easy to dive into the dense forest of detailed functional requirements and technical requirements of a solution area, it's critically important to pull back and strategically look at what you are really trying to accomplish with a solution.

This is particularly important in the area of spend analytics. In fact, just defining your overall analytics scope and strategy is half the battle in determining the class of solutions you should approach before even diving into the features and functions of individual providers. There are also other key considerations that focus on technical aspects of the solution relative to master data management, big data, market intelligence, AI and more that have a real business impact on procurement centers of excellence looking to drive more insight and value from not just internal spend but external supply data. Your strategy and approach in selecting providers is also crucial so that you can drive short-term results, while also giving yourself the option value to evolve to into new areas.

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5 Tips and Considerations for Your Next Spend Analysis RFP

spend analytics

In a rapidly changing market of technology and service delivery providers, it has become increasingly challenging for many of today’s procurement leaders to both keep up with the pace of change to find true differentiation across the evolving vendor community. Most of the leading procurement organizations we have worked with in the past 12 months are focused on the following strategies: fold more spend under management, more quickly identify and tackle savings opportunities, and drive more value to internal stakeholders. Spend analysis is core to meeting these strategic goals. 

Spendata: Vendor Snapshot (Part 2) — Product Strengths and Weaknesses [PRO]

data analytics

Spendata is one of the first third-generation spend analytics platforms that takes analytics out of the fixed data warehouse world and into the modern big data era, where you can do the analysis you want, when you want, where you want and how you want. As it runs in the browser, your only restriction is an OS that runs Chrome (which are 99% of the OS deployments). And you don't have to worry about whether or not the vendor is GDPR compliant, because the data stays on your machine.

This Spend Matters PRO Vendor Snapshot explores Spendata’s product strengths and weaknesses, providing facts and expert analysis to help procurement organizations decide whether they should shortlist the vendor. It also offers a critique of the user interface. Part 1 of our analysis provided a company background and detailed solution overview, as well as a summary recommended fit suggestion for when organizations should consider Bonfire in the sourcing technology area. The final installment in this series will offer a SWOT analysis, user selection guide, competitive alternatives, and additional evaluation and selection considerations.

Spendata: Vendor Snapshot (Part 1) — Background and Solution Overview [PRO]

There are two views one can take of spend analysis. The modern view envisions that all of the data needs to be centralized in a data warehouse, business intelligence (BI) or spend analysis tool in a single standardized hierarchy agreed upon by the entire organization. The belief is that there needs to be only one view into a single version of the truth before any (spend-related) progress can be made. This desire to find the be-all single spend taxonomy structure bolted onto a corporate data warehouse is a fool’s errand because there is no single hierarchical structure that represents the multi-variate richness of spend/supply data that category managers need to extract value. For more on this topic, see here.

Then there is the postmodern view, where success depends upon taking appropriate action on whatever data you can get, whenever you can get it, in whatever form it's in. Any intelligence is better than no intelligence, and any savings or value you can identify today is worth more than the hypothetically better savings that you might identify next week, next month, or, more likely next quarter or year (which is likely how long it will take to agree on a common schema, collect all of the data across the organization, categorize it, cleanse it and enrich it). And while more data can allow for the identification of bigger opportunities, it's often not worth waiting until you have it all to start the analysis and start pursuing those opportunities that are available today.

In this series we are going to talk about a new and disruptive spend analysis solution that adopts the postmodern view of spend analysis, where a practitioner should be able to take action on any data she can get her hands on whenever she can get her hands on it and take immediate action wherever and whatever. This includes the situation where the practitioner already has access to an enterprise data warehouse or business intelligence solution, because the data doesn't always get into that solution right away — and even if it does, it's not always the case that the schema of the data warehouse or business intelligence solution will support the type of analysis that the practitioner needs to do.

Oh, and it’s only $699.