The Supplier Information Management Category

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

In Part 1, we introduced you to Wax Digital, a source-to-pay provider from the UK that you may not be familiar with, especially since it has not yet participated in Solution Map (although that changes this quarter). Wax Digital is a provider of note as it is one of the few providers that has a relatively complete, integrated, source-to-pay offering on one code base that is already used globally in over 100 countries. In our last article, we overviewed some of the key parts of Wax Digital’s platform. In this post, we dive into its strengths and weaknesses.

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

Some vendors prefer to wax poetic. Others prefer to wax digital. One such source-to-pay provider likes waxing digital so much, that it even calls itself Wax Digital. And it is our latest source-to-pay vendor to get the in-depth PRO treatment here on Spend Matters (before its debut in Q4 SolutionMap).

By now you are all familiar with its primary source-to-pay competitors, including SAP Ariba, Coupa, Determine, GEP, iValua, Jaggaer, SynerTrade and Zycus, as they have been covered extensively on PRO and appear in the SPT & S2P solution maps, and while you are quite familiar with the American S2P providers (Ariba, Coupa, Determine, GEP, Jaggaer and Zycus) and now the European S2P providers (iValua and SynerTrade), you're likely not as familiar with their English counterparts, namely Proactis and Wax Digital, as they have not had as much exposure in recent years. And Wax Digital is definitely a provider that should make your familiarization list.

Wax Digital, which has been around for almost two decades, is one of the largest European providers of source-to-pay solutions, with users in over 100 countries around the globe. It is available in 15 languages out of the box and supports all currencies under ISO 4217 for its 250,000+ global users.

Part 1 of this analysis provides a detailed company background and detailed solution overview, as well as a summary recommended fit for when organizations should consider Wax Digital. The remaining parts of this research brief will dive into product strengths and weaknesses, competitor and SWOT analyses, and insider evaluation and selection considerations.

AdaptOne: Vendor Snapshot (Part 3) — Summary and Competitive Analysis [PRO]

supplier management

The supplier management technology market is among the most fragmented of those in the procurement technology landscape.

It comprises multiple segments (and sub-segments), and Spend Matters now tracks approximately 50 providers that compete within niche segments of it. One of these providers is AdaptOne, a vendor specializing in supplier information management that perfectly matches Spend Matters’ SolutionMap “Turnkey” persona for supplier management. This Spend Matters PRO report provides facts and expert analysis to help procurement organizations make informed decisions about AdaptOne’s solution — and whether its “turnkey” services-driven approach is right for them.

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 AdaptOne in the procurement, supply chain and finance technology areas. Part 2 covered product strengths and weaknesses. This final installment offers SWOT analysis, explores competitive alternatives to AdaptOne and provides insight into evaluation and selection considerations, including a prioritization/fit checklist.

Sustainable SRM Is Focus of 10th Annual State of Flux Report on Supplier Relationships

gig economy

Many businesses have come around to the idea that sustainability is not just a hashtag or a marketing ploy but something that can help a company advance its business goals. But as organizations dive into all the ways they can save energy and use friendlier materials, they soon realize there are only so many they control. Truly leveraging sustainability requires close collaboration all the way down the supply chain to find mutual incentives for all, according to the latest report by State of Flux, a global procurement and supply chain consultancy.

Supplier Relationship Management Needs a Jolt of Technology, State of Flux’s SRM Summit Finds

Procurement has made significant strides in supporting supplier relationship management initiatives, but poor investment in technology could limit the potential benefits those programs can deliver in the years to come, according to State of Flux, a consulting firm that specializes in SRM and which held its annual SRM summit in Chicago on Oct. 23. Over the decade that State of Flux has monitored SRM maturity, procurement organizations have made considerable improvements in several areas — but not in adopting and using technology dedicated to SRM.

SirionLabs: What Makes It Great (Contract Lifecycle Management SolutionMap Analysis)

Just when you thought the contract lifecycle management (CLM) software market fit within a neatly defined 2x2 graph, along comes a vendor that breaks the mold, offering top functional capabilities while also redefining exactly what a CLM provider is capable of.

Who is this vendor, you ask?

SirionLabs.

Although it is fully capable of competing in the “traditional” CLM sector, SirionLabs is a powerful, specialized CLM solution that organizations have used primarily to manage and optimize the performance of large, complex, often multi-year services contracts. The solution combines core CLM components with added supplier management capabilities, like  performance management, relationship management and risk management. And it works for contracts of all shapes and sizes, delivering Value Leader (upper right quadrant) performances across every CLM SolutionMap buying persona.

As of Q3 2018, Spend Matters SolutionMap consists of functional and customer satisfaction benchmarks on more than 50 vendors within the procurement, finance and legal software markets. To date, Spend Matters’ analysts have evaluated 13 providers in the contract lifecycle management software segment, including SirionLabs. But where does SirionLabs stand out most, and why should this matter to procurement and legal organizations? Let’s dive into the CLM SolutionMap benchmark to find out.

“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 offers quick facts on the provider, describes where it excels, provides hard data on where it beats the SolutionMap benchmark and concludes with a checklist for ideal customer scenarios in which procurement, finance and supply chain organizations should consider it.

Supplier Inclusion: Moving Beyond Spend to Measure Impact

Spend Matters welcomes this guest contribution from Brian Peters, Gilead Science’s director of procurement, and Steven Wuerth, Gilead Science’s senior manager for supplier inclusion and data analytics. 

Supplier diversity can have positive impacts on businesses and communities, but history suggests that program implementation has been difficult and, in some cases, borderline ineffective. In CVM Solutions’ 2018 State of Supplier Diversity Report, only 32 percent of respondents rated their supplier diversity programs as very effective,2 up 7 percentage points from their 2017 report3. This white paper by Gilead, a biopharmaceutical company with suppliers worldwide, contains reflections and learnings from our work to progress Gilead’s robust supplier inclusion program and to move beyond spend as “the” historical metric for supplier diversity so we can inspire and measure a broader impact.

Why Platforms Need to Monetize Their Supplier Ecosystem

Because P2P solutions started giving away supplier portals, cash flow optimizers, analytics, support, etc., they closed a revenue door. Trying to build a sustainable business model when half your ecosystem is not monetized is very challenging, even as P2P platforms add features and functionality. Sure, many platforms are trying to figure out payments, and that is something that scares the bejeebers out of them due to regulations and compliance rules. (Don’t pay that blacklisted vendor or person, or else.) But payments is not a profitable business for platforms, it’s a service.

Creative Supplier Governance: Key Points From a Sourcing Leaders’ Lunch & Learn

SciQuest

At a recent Chicago Sourcing Leaders Lunch & Learn, one theme was clear: The sourcing department includes the “cool kids” of the enterprise. Hosted by solutions provider Scout RFP and Zebra Technologies, pioneers of barcode scanning technology, the Lunch & Learn featured a sampling of the Zebra product line and a practical presentation from Dawn Tiura, president and CEO of the Sourcing Industry Group, or SIG. She described the qualities of the “cool kids” and shared her insight on the importance of having a formal supplier governance program.

LexisNexis Entity Insight: Vendor Snapshot (Part 3) — Summary and Competitive Analysis [PRO]

The supplier risk management market includes a highly diverse set of providers, many of which are difficult to compare on an “apples to apples” basis with each other — unlike just about every other procurement technology segment. Within this market — which also can extended deeper into the tiers of a supply base in the form of supply chain risk management — more organizations are seeking to automate the management of risk as much as possible, as accurately as possible. And arguably, LexisNexis Entity Insight (LNEI) is better positioned than many of its peers to have deep, methodologically-driven conversations based on how it adjudicates data and verifies document integrity to drive risk analysis.

This third and final installment of this Spend Matters Vendor Snapshot covering LexisNexis provides an objective SWOT analysis of the provider and offers a competitive segmentation analysis and comparison. It also includes recommended shortlist candidates as alternative vendors to LexisNexis and offers provider-selection guidance. Finally, it gives summary analysis and recommendations for companies considering the vendor. Part 1 provided an in-depth look at LexisNexis as a supply risk provider and its specific solutions, and Part 2 gave a detailed analysis of solution strengths and weaknesses and a review of the product’s user experience.

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

supplier network

As a standalone component of procurement, supplier management is not new. Nor is the technology to enable it. But most procurement organizations still only have sourcing or e-procurement technology (at best) with capabilities that offer targeted supplier support for larger vendors. From a supplier management standpoint, the majority of firms still pay little attention to the long tail of hundreds, thousands or even tens of thousands of suppliers that they do business with. One of the key promises of supplier management solutions is to tier engagement levels and manage these suppliers across the entire lifecycle of engagement.

Within this market, AdaptOne offers targeted capabilities that focus on supplier information management (SIM) and supplier diversity, which represent two sub-disciplines within supplier lifecycle management. Having started out as an enterprise business process management (BPM) and workflow management provider that customized solutions to client processes, AdaptOne evolved into a SIM provider that offers turn-key solutions inclusive of customized configuration.

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

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

The supplier lifecycle management software market — which can be segregated at least half a dozen different ways — includes dozens upon dozens of different providers specializing in one or more enterprise technology areas. These include supplier information management (SIM), supplier performance management (SPM), supplier relationship management (SRM), supplier quality management (SQM), supplier discovery management (SDM), supplier diversity, supplier risk management, and governance, risk and compliance (GRC). 

Some of these areas are data-centric, others are process-centric and others still are relationship-centric. Following this pattern, from a tech vendor “supply market” perspective, some of the providers that compete in this sector are well known to procurement organizations, having invested heavily in marketing and sales for many years. But the majority tend to slip under the radar, either due to lack of marketing investment, lack of focus or simply poor communication (e.g., getting caught up in broader offerings/suite capabilities). And some are not even on the radar of most organizations.

One of the providers in these latter camps that recently caught our attention is AdaptOne. And not necessarily because it has a unique supplier management solution, as the truth is there is a lot of similarity between it and a few other SIM solutions. Rather, AdaptOne piqued our interest because it comes from a unique background and sells the solution from a new perspective. Leveraging a business process management (BPM) development and deployment orientation, AdaptOne’s solution is more configurable and, well, adaptable (sorry, we could not resist) than most of its peers.

But how does AdaptOne stack up functionally, and what does its solution offer? This Spend Matters Pro Vendor Snapshot provides an overview of the AdaptOne solution, along with facts and expert analysis to help buying organizations, suppliers and their partners make informed decisions about AdaptOne's SIM-centric solution. Part 1 of our analysis provides a company background and detailed solution overview, as well as a summary recommended fit suggestion for when organizations might want to consider AdaptOne. The rest of this multipart research brief will cover product strengths and weaknesses, competitors and SWOT analysis, user selection guides, insider evaluation and selection considerations.