Spend Management Content

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Customize your internal payment processing needs with ‘Pay by Invoice’ at Amazon Business

No two businesses are alike. Each one has their own goals, internal policies and procedures. At Amazon Business we obsess around the differences in our customers, and how we can best support their internal procurement, reconciliation and payment teams to streamline their procure-to-pay processes. To do this, Amazon Business is helping innovate on behalf of its customers by offering a customizable invoicing payment method for businesses of all sizes and industries — Pay by Invoice.

Pay by Invoice allows eligible customers the option to buy now and pay later with payment terms and a purchasing line offered on Amazon Business.

Amazon Business believes a trusted invoicing experience enables worry-free purchasing — and we do this by making invoicing configurable, accessible and dependable for customers. Pay by Invoice provides Amazon Business customers access to millions of suppliers, with the convenience of using a single configurable invoicing solution to purchase. The vision of Pay by Invoice was to put businesses back in the driver’s seat. No need to change internal policies to work with a supplier or have separate negotiated terms with each individual supplier. With Pay by Invoice, the customer chooses what works for them.

Exploring Basware’s Artificial Intelligence (AI) Capabilities and Roadmap: Something For AP and Procurement (Part 3) [PRO]

Artificial intelligence is starting to transform the value proposition of procurement and finance technologies. But it is not just start-ups that are building new capabilities and gaining momentum. Procure-to-pay stalwarts like Basware are making significant investments in the area as well. This Spend Matters PRO brief explores where Basware’s AI investments are appearing in its invoice-to-pay and e-procurement solutions. Part 1 of this series explores Basware’s recent product enhancements, and Part 2 explores 2019 and 2020 roadmap items.

SAP Intelligent Spend Group is future for Ariba, Fieldglass, Concur (Part 3): How can the SAP spend platform ‘Run Simple’? [PRO]

supplier network

The integration of SAP Ariba, SAP Fieldglass and SAP Concur into a single operating entity within SAP, the “Intelligent Spend Group,” will be far more straightforward from a commercial and go-to-market perspective than a technology architecture and platform vantage point. This Spend Matters research brief, the third in our series analyzing integration considerations for the Intelligent Spend Group, explores network and platform considerations and offers key takeaways for the company and SAP customers. Part 1 centered on specific integration models that SAP is likely to take (e.g., the SAP Cloud Integration Gateway) and what these approaches would mean for customers of multiple solutions. Part 2 asked the hard questions surrounding core integration considerations.

SAP Intelligent Spend Group is future for Ariba, Fieldglass, Concur (Part 1): Customer Analysis, Solution Integration, Roadmap [PRO]

Late in April, SAP announced that it was bringing its procurement assets under a single operating umbrella. The announcement of the new business unit, tucked into the body of a press release with the headline of a leadership promotion, notes that the “SAP Intelligent Spend Group” will be “comprised of SAP Ariba, SAP Fieldglass and SAP Concur.” The group, according to the announcement, would be headed by SAP Ariba and Concur veteran Barry Padgett, but this week we learned that Padgett left SAP. Regardless of leadership, the Intelligent Spend Group will move forward. This Spend Matters PRO brief provides an analysis of what the creation of a single organization within SAP for these solutions may mean for each individual solution line and customers.

The Evolving Power in Spend Visibility

Spend Matters welcomes this guest post from John Callan, Senior Director at Coupa.

It’s no secret that businesses struggle with full visibility when it comes to spend management, with many still believing that it simply isn’t possible to find a comprehensive solution that is easy to implement but will also deliver value. Time and time again, we see the price that businesses pay when they lose control over the procurement process.

Spend that is fragmented across multiple categories and suppliers often leads to payments being incorrectly classified — or not classified at all — due to inconsistent and disjointed spend processes. This can render payments invisible, easily becoming the pocket where procurement fraud is concealed.

There are also many operational considerations. When spend is miscategorized, it results in poor, inaccurate data, potentially damaging the credibility of the procurement process. Business leaders need more comprehensive, effective and data-driven business spend management (BSM) solutions.

With $60 million funding round, Ivalua reaches ‘unicorn’ status of $1 billion valuation

Ivalua, likely the fastest growing privately held source-to-pay procurement suite technology provider, announced Tuesday morning that, with its latest funding round, it has gained “unicorn” status for start-ups by reaching $1 billion in valuation.

It raised $60 million from a new investor, Tiger Global Management, and Ardian Growth, one of Ivalua’s early investors that raised its investment level. Tiger Global joins Ivalua’s founders, KKR and Ardian as shareholders, the announcement said.

Ivalua Has Been on Spend Matters’ Radar for Years

Long before becoming a $ 1 billion "unicorn" company, Ivalua has been a procurement software provider that’s consistently shown up on the radar of Spend Matters’ analysts for years. We’ve introduced subscribers to an array of Ivalua’s developments for about the last 10 years, including how the spend management provider matches up against the biggest names in the industry.

Check out our coverage, which features SolutionMap data, head-to-head comparisons with its competitors, and PRO analysis over the years. (Some of our first coverage of Ivalua was done in 2010 before we even had subscribers!)

Coupa to Acquire Exari: What Type of CLM Solution Is Coupa Getting? (Part 1) [PRO]

Coupa just announced that it intends to acquire Exari, a leading provider of contract lifecycle management (CLM) solutions. Terms of the deal were not provided, but with Exari having almost 150 employees, it’s not unreasonable that the private firm would have over $30 million in revenues and a deal size valued at just over nine figures. Contract management is a red-hot space right now, and Coupa has a very strategic need for this product. Spend Matters believes that this acquisition is a very smart hand-in-glove acquisition even though it’ll require some alterations to truly fit properly.

Coupa currently has a basic contracting module as part of its “Business Spend Management” application suite within the source-to-pay market, but it was missing two critical aspects of modern CLM that are major strengths for Exari. On a product functionality basis, Exari is one of the very top performers in Spend Matters’ CLM rankings on SolutionMap, and it “ticks all the right boxes” for a best-of-breed CLM performer. It’s also unique in its knowledge-based approach to deep contract modeling rather than just straight AI and machine learning based on contract text analytics.

CLM is also not a one-size-fits-all proposition, and the market landscape depends heavily on many factors. Some providers are much more oriented toward the sell-side — e.g., CPQ-oriented providers such as Apttus or SpringCLM (recently acquired by DocuSign). Some are focused on the mass market with usability being a key focus (e.g., Concord, Outlaw, PandaDoc, etc.). And even within large enterprises looking at firms like Exari, Icertis, Agiloft, SirionLabs, and others, they differ in their requirements as to whether they want “deep” functionality, maximum configurability, ease-of-integration, attractiveness to many functions (e.g., the legal department), and/or being part of a larger application suite.

So, what is Coupa getting with Exari? What types of organizations are the best fit for this solution and the combined solution of Coupa and Exari? Is Exari a solution optimized for legal, procurement or both? And what will Coupa need to do to integrate Exari since this acquisition is not some simple bolt-on, but rather, a core platform component? Finally, what is the impact of this acquisition on the S2P and CLM markets?

This Spend Matters PRO quick take analysis provides insight for Coupa customers and the broader market on specifically what the provider is acquiring. Unlike past acquisitions, we believe Exari represents the greatest stretch away from its core economic buyer (at least historically). Find out why.

For an introduction to Exari, we encourage you to read our Spend Matters PRO review: Introduction & Solution Overview, Strengths/Weakness and Market/Competitive Analysis.

Coupa to Buy Exari, Boosting CLM in Its Business Spend Management Suite

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Coupa Software is buying Exari to gain its best-of-breed contract lifecycle management (CLM) offering, Coupa announced Tuesday morning. Coupa, a San Francisco-area suite provider of business spend management (BSM), said in a news release that the transaction for Boston-based Exari is expected to close in its second fiscal quarter. In a disclosure to investors, it said the aggregate purchase price for the transaction is about $215 million in cash.

Exari is a top performer in Spend Matters’ CLM rankings on SolutionMap, and it is unique in its knowledge-based approach to deep contract modeling rather than just straight artificial intelligence (AI) and machine learning based on contract text analytics.

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How to Create Value by Benchmarking the Back Office

We recently introduced you to this year’s Coupa Benchmark Report, “12 KPIs to Drive Profitability and Growth with Business Spend Management.” This unique report, based on nearly $1 trillion of actual operating data from businesses around the world, outlines 12 key performance indicators (KPIs) to help you measure and increase your organization’s business spend management (BSM) maturity.

Across the categories of source-to-contract, purchasing, invoicing, and expenses management, there are countless opportunities to assess and analyze your organization’s progress towards BSM maturity, but the 12 KPIs Coupa has identified are especially important.

Why? Read on!

Direct Spend to See an Increase in Outsourcing: Report

A new report from Texas-based research firm Everest Group analyzes the factors contributing to suboptimal direct spend management. The report — “Is It Time to Outsource Direct Spend Categories?” — aims to provide a process for enterprises to begin changing their approach to direct spend management.

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.