The Supplier Performance Category

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.

What Makes It Great: The Scout RFP Customer Experience (Sourcing SolutionMap Analysis)

What if a procurement technology provider could build an entire market around usability and adoption rather than absolute feature/function capability alone, creating true evangelists within its customer base? Such an act has been done within e-procurement and procure-to-pay. Just ask Coupa. And it redefined an entire market, at least initially. Such was Coupa’s first act, before it focused on investing in functional leadership to complement best-in-class usability.

Scout RFP is following a similar path in the sourcing market. Its customer references and candid feedback from Spend Matters’ Q3 2018 Sourcing SolutionMap suggest it is not a typical provider but rather one that is redefining an entire market by focusing on customer adoption and the user experience. Like Coupa, it is creating a movement among procurement organizations. But where and how does Scout stand out in this competitive technology market with customers? Let’s dive into Spend Matters’ SolutionMap to find out what customers had to say.

“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 describes where it excels and concludes with a checklist for ideal customer scenarios in which procurement organizations should consider it.

Amazon Business Prime Updated: Analysis and Procurement Recommendations (October 2018 Update) [PRO]

AnyData Solutions

Earlier today, Amazon announced a host of enhancements to its Amazon Business Prime offering. To help procurement organizations understand the implications of these added capabilities, this Spend Matters PRO research brief provides an overview and analysis of the new solution components and offers recommendations to procurement organizations already using or considering Amazon Business.

The emphasis of this PRO analysis centers on the spend visibility/analytics, e-procurement (guided buying) and working capital/payment capabilities of the October 2018 Amazon Business release. While some of these areas are likely to be less interesting for organizations that already use a third-party e-procurement solution that integrates with Amazon Business (either via punch-out or API), Amazon’s enhanced invoicing, working capital and payment components can be applied to all potential users.

But perhaps most important, these enhancement offer some signals of how Amazon may continue to build out the capabilities of its Prime business solution. Let’s delve in.

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 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.

Supply Chain Disruption and Customer Viability Top Finance Leaders’ Risk Management Worries

Finance departments are struggling to manage risk, a recent report from Dun & Bradstreet finds, and many finance leaders “believe their own efforts to manage, monitor and predict risk pose a moderate to high risk to their businesses.” In order to find out how today’s finance leaders are managing risk and what their future risk management plans look like, earlier this year Dun & Bradstreet commissioned a study of approximately 1,100 finance professionals, the vast majority of whom were based in the U.S.

Sponsored Article

Enabling Supply Chain Mobility: The myConnXion Revolution

Having officially launched myConnXion yesterday, our team is thrilled to invite buyers and suppliers to connect. A key factor behind our innovative technology lies in the ability to integrate the process into your current sourcing strategy. We mobilize supply chains to compete faster and better in today’s global economy. Many procurement teams are deeply entrenched in legacy enterprise software and business processes, which are often not enough to manage today’s data type and quality, supplier relationships and business risks. Having a supply chain capable of movement and adaptability has become vital to the success of an organization’s business operation. Adding velocity to your supply chain starts with sustainable sourcing.

ConnXus’ Multitier Tracking Capability: Creating a Sustainable Picture of Supplier Spend

procurement software

Editor’s Note: This article is part of our series The Featured Feature, where we explore unique technology capabilities that differentiate procurement software companies. Read our introductory post to learn more.

Supply chain visibility is a major concern for today’s procurement organizations. In a 2017 Geodis survey of 623 companies, respondents named improving supply chain visibility as the third most important priority for their businesses, behind only full deliveries and product availability. Yet only 6% of those respondents said they had full visibility of their supply chains. Acknowledging this need for better visibility and information about their suppliers, businesses are increasingly turning their attention to the latest generation of supplier management solutions. ConnXus, a more recent entrant to this sector, is one such example, with a particular expertise in supplier diversity tracking and reporting.

Hiperos (Opus): What Makes it Great (Supplier Management SolutionMap Analysis)

Hiperos (an Opus Company) is one of the most widely used third-party management solutions in the market today, albeit with a focus primarily on services and indirect suppliers. It is also the highest-performing vendor on a functional basis for the Turn-Key persona in the Q2 2018 Supplier Management SolutionMap, as well as a customer favorite in all five personas.

But Hiperos is not just a third-party management compliance tool. It delivers a broad set of supplier management capabilities focused on the management of all types of vendor relationships, including strategic suppliers, across the broader lifecycle of engagement and is a top vendor in such speciality areas as supplier performance management and supplier information management. It’s also an integrated supply and contract risk management solution in its own right.

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.