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Exari: Vendor Snapshot (Part 3) — Summary & Competitive Analysis [PRO]

contract

There is more than meets the product and functional eye when it comes to evaluating independent contract lifecycle management (CLM) providers. Spend Matters research, including our recently published Q4 2017 CLM SolutionMap, suggests this is a technology market where it is easier to define what makes individual vendors different than what makes them similar. This is even the case where just about every best-of-breed (i.e., non-suite) vendor ticks the baseline contract management checklist boxes across all key areas including core modeling, extended contract modeling/analytics, expiration/renewal, creation/authoring, collaboration, and implementation, compliance, obligation and performance management.

Exari is one such provider in this specialized and diverse segment of the procurement technology market that stands out based on its current intellectual property and software development focus. Consider, for example, Exari’s data architecture, built on what the provider describes as a universal contract model (UCM) that can encapsulate all of the elements, relationships and actions in a contract. Exari can use this abstracted contract data structure to guide a user through contract creation, identify potential issues and raise alerts based upon data elements or events or (unexpected) actions. It can even analyze third-party documents and convert external contracts into a document within Exari or into its UCM-based canonical contract data model through other artificial intelligence (AI) and semantic parsing capabilities in its broader solution portfolio.

This third and final installment of this Spend Matters Vendor Snapshot covering Exari 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 Exari and offers provider selection guidance. Finally, it provides summary analysis and recommendations for companies considering the vendor. Part 1 provided an in-depth look at Exari as a technology 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.

10 Questions Jaggaer’s Acquisition of BravoSolution Should Raise for Customers and the Market (Part 2) [PRO]

Jaggaer’s acquisition of BravoSolution raises a number of questions for customers and partners regarding the broader strategy that Jaggaer and its owner, Accel-KKR, appear to be following in the market. In the second installment of this research brief, we pose five more questions customers, prospects and partners should consider as they explore the combination and what it means for them. (See questions one through five here.) These questions center on Jaggaer’s solution gaps that will remain following the acquisition of BravoSolution, whether the verticalization of procurement technology solutions matters, what it will take to enable a “super suite,” specific procure-to-pay (P2P) considerations and whether the transaction might trigger other acquisitions in the sector.

Exari: Vendor Snapshot (Part 2) — Product Strengths & Weaknesses [PRO]

Even among specialist contract lifecycle management (CLM) providers, those that go below the surface in evaluating functional capabilities will discover that there is significant differentiation of both absolute functional capability and focus among vendors. The former point may be obvious, but the latter point is especially nuanced within the best-of-breed CLM market.

Exari is a perfect example. Comparing Exari even with its specialist contract management peers is like comparing apples to oranges. It stands apart from others that appear to tick similar functional boxes for many reasons and is likely a better fit for certain legal and procurement organizations over others, based on both their specific goals in deploying a CLM solution and their overall approach to enterprise contract management.

This Spend Matters PRO Vendor Snapshot explores Exari’s strengths and weaknesses, providing facts and expert analysis to help procurement organizations decide whether they should consider the provider. Part 1 of our analysis provided a company and detailed solution overview and a recommend fit list of criteria for firms considering Exari. The third part of this series will offer a SWOT analysis, user selection guide, competitive alternatives, and additional evaluation and selection considerations.

Jaggaer-BravoSolution Merger Analysis: BravoSolution Customer Recommendations [PRO]

Jaggaer announced Wednesday it would acquire BravoSolution, a Europe- and North America-based provider of strategic procurement technology solutions (and, on a more recent basis, e-procurement capability). This Spend Matters PRO research brief provides guidance and customer recommendations to help procurement groups navigate the merger, primarily for organizations already using or considering using BravoSolution. It also provides insight into commercial, technology, and deployment and support considerations surrounding the combination of the two providers, as well as select alternative providers in some of the markets in which BravoSolution competes.



This is the first in a detailed series of Spend Matters PRO research briefs and commentary on this transaction. Our next research brief will cover 10 questions that the acquisition should raise for BravoSolution customers to form a basis for understanding the acquisition and what it means for them — and where they sit in the customer pecking order based on industry, geography and other considerations. We will also compare the modules from both providers in the strategic procurement technology areas and explore how they compare on a highly granular basis. Finally, we will explore implications for the competitive landscape.

In the meantime, BravoSolution customers who want to understand how BravoSolution, Jaggaer and Jaggaer Direct compare on a granular functional basis and from a customer satisfaction perspective in each solution area, as well as how competitors performed, should consult our Q4 2017 SolutionMap Vendor Deep Dive reports. See spend analytics, sourcing, supplier management, contract management, strategic procurement technology suites and procure-to-pay suites.

For highly granular comparative analysis looking at both providers' capabilities in each modular area in which there is overlap, as well as curated peer ratings and alternative providers for each functional area, BravoSolution and Jaggaer customers (and consultancies advising customers) can inquire about PRO and SolutionMap pricing for 2017, expiring at the end of December. Subscriptions include access to the entire Spend Matters PRO archives covering both providers, representing more than 100 research briefs.

Those wishing to tailor an even deeper view of Q4 2017 SolutionMap benchmark insight to their specific organization — based on more than 700 source-to-pay functional benchmark scores and analyst-based vendor ratings, as well as more than 300 customer peer reviews to improve technology provider shortlist and selection processes — can inquire via the above link.

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

A few years ago we could have divided the contract lifecycle management (CLM) technology provider market into two segments: providers that delivered CLM as part of integrated source-to-pay suites and standalone CLM providers, including those owned by suite vendors but that were not fully integrated as part of a source-to-pay platform, which offered significantly greater capability. But in our recent Q4 CLM SolutionMap, we learned this segmentation is no longer accurate. Select standalone CLM providers have begun to distanced themselves considerably, on a function scoring (Solution) basis, from the previous generation of best-of-breed providers that were part of suite vendor offerings (e.g., Selectica/Determine, Upside/Jaggaer).

One of these independent providers that is pulling away from the suite crowd is Exari. Like other CLM specialists, Exari not only focuses on procurement contracts but also enterprise contracts, including sales contracts, leases, partnership agreements, employment agreements and other contracts that fall outside the realm of the procurement.

This Spend Matters PRO Vendor Snapshot provides facts and expert analysis to help procurement and legal organizations make informed decisions about whether Exari, as a standalone CLM solution, is a better fit than using a suite-based contract management provider. Part 1 of our analysis provides a company background and detailed solution overview, as well as a summary recommended fit suggestion for when organizations should consider Exari. The remainder of this multipart research brief covers product strengths and weaknesses, competitor and SWOT analysis, user selection guides, and insider evaluation and selection considerations.

Dhatim Conciliator: Vendor Snapshot (Part 3) — Summary & Competitive Analysis [PRO]

For most procurement organizations, artificial intelligence (AI) technology in 2017 is similar to what online marketplaces and B2B exchanges were to purchasing teams in 2000. In other words, more of a curiosity — and a place to potentially make investments — than a proven thing. But the similarity ends there.

AI is very much real — and early adopters in procurement, finance and supply chain are already taking advantage of its benefits. And perhaps most important for skeptical procurement functions more interested in containing technology risk than fully embracing digital capabilities, there is no chance that the AI movement will implode, like the majority of B2B exchanges from the turn of the last millennium — it’s too far along for that already and the benefits are all too real.

If you’re not yet convinced, use cases from providers like Dhatim will help you make you a believer. While not a traditional source-to-pay modular or suite provider, Dhatim brings adjacent AI-led spend, invoice, broader P2P and payment classification, analytics and proactive opportunity identification capabilities that are complementary to existing systems and the data they produce.

Today’s third and final installment of this Spend Matters Vendor Snapshot covering Dhatim 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 Dhatim and offers provider selection guidance. Finally, it provides summary analysis and recommendations for companies considering the vendor. Part 1 provided an in-depth look at Dhatim as a firm 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.

Dhatim Conciliator: Vendor Snapshot (Part 2) — Product Strengths & Weaknesses [PRO]

“Cognitive” procurement has a ring to it. Enough so that any CPO who works for an organization with a broader digital transformation mandate just might pick up the old handset when a new technology provider that uses artificial intelligence (AI) in new ways decides to call. And Dhatim’s Conciliator, one of the first entrants into the cognitive sourcing market that uses AI and customized learning models to identify and predict savings opportunities, classification errors, and even individual (and theoretically supplier/vendor) performance/quality, may very well be the one on the other end of the line.

Conciliator is not the first “next generation” integrated AI-based solution that we have seen with true cognitive procurement (or sourcing) capabilities. LevaData (see our Vendor Snapshot series here, here and here) takes that prize. But Conciliator is one of the first true cognitive platforms on the market with an ability to do deep predictive analytics on certain categories in certain verticals in ways that go beyond basic AI applications to spend classification, fraud detection, predictive risk scoring and other established use cases alone.

This Spend Matters PRO Vendor Snapshot explores Conciliator’s strengths and weaknesses, providing facts and expert analysis to help procurement organizations decide whether they should consider the provider. Part 1 of our analysis provided a company and detailed solution overview and a recommend fit list of criteria for firms considering Conciliator. The third part of this series will offer a SWOT analysis, user selection guide, competitive alternatives, and additional evaluation and selection considerations.

Dhatim Conciliator: Vendor Snapshot (Part 1) — Background & Solution Overview [PRO]

You might not know it, but France has a great history of building outstanding, engineering-led procurement technology firms. Ivalua and b-pack (now Determine) stand out for different reasons, but both have achieved varying degrees of success globally. Dhatim, founded in 2007, stands to follow in their footsteps — and potentially create an even larger imprint. While not a new technology provider in the procurement space, Dhatim, and its solution named Conciliator, is relatively new outside of its home country. Like others that have expanded outside the French market before it, Dhatim is looking to build a global presence, first in Europe and the UK, and then beyond.

Dhatim’s Conciliator is not a procurement suite. In fact, it would misleading to view the provider as a module-centric vendor only. Rather, it has developed an artificial intelligence (AI)-centered suite of applications that leverage the underlying learning and analytics capability to solve specific procurement, finance and even HR business challenges as well as shared services end-to-end processes operational challenges, primarily centered on automated compliance. Many of Conciliator’s large customers are keen to take advantage of digital initiatives that center on “cognitive procurement” and related areas. Conciliator not only checks the box but also delivers against use cases in which other, non-AI based solutions would have a much more difficult time — if they could do it at all.

This Spend Matters PRO Vendor Snapshot provides facts and expert analysis to help procurement and finance organizations make informed decisions about whether they need a solution like Conciliator alongside or as an adjunct to other analytics and data classification technologies. Part 1 of our analysis provides a company background and detailed solution overview, as well as a summary recommended fit suggestion for when organizations should consider Conciliator. The remainder of this multipart research brief covers product strengths and weaknesses, competitor and SWOT analysis, user selection guides, and insider evaluation and selection considerations.

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

Catalant is an online workforce intermediary that connects enterprises with proven, specialized business expertise and services. It is representative of a new generation of platform-based intermediaries that support the fast and efficient sourcing and engagement of external talent and service providers (without the use traditional intermediaries), the execution of projects with collaborating external and internal resources, and the retention and sharing of knowledge and project deliverables.

This Spend Matters PRO Vendor Snapshot provides facts and expert analysis to help buying organizations at enterprises make informed decisions about whether they need a solution like Catalant as an alternative for traditional means of sourcing and engaging business expertise. Part 1 of our analysis provides a company background and detailed solution overview, as well as a summary recommended fit suggestion for when organizations should consider Catalant. The remainder of this multipart research brief covers product strengths and weaknesses, competitor and SWOT analysis, user selection guides, and insider evaluation and selection considerations.

Vendor Summary Report: Procure-to-Pay Suites SolutionMap℠ Q4 2017 [PRO]

purchasing

This SolutionMapSM analyzes a select group of procure-to-pay solution providers. It is part of our Q4 2017 SolutionMap report series, also featuring spend analytics, sourcing, supplier management, contract management, e-procurement and invoice-to-pay providers. Our Q4 release also features SolutionMaps for Strategic Procurement Technology suites.

Summary

Spend Matters tracks more than 50 procure-to-pay solution providers. This analysis features many of the largest invoice-to-pay providers, specifically Basware, Coupa, Determine, GEP, Ivalua, SAP Ariba, Vroozi and Zycus. Data from other providers is also included in our SolutionMap scoring benchmarks. Among the providers featured, this SolutionMap release includes select industry/specialty capability of providers, although it does not highlight them in a specific persona, a change from our last SolutionMap release.

Scoring and Ratings Inputs

SolutionMap ratings provide comparative rankings and insight into how each provider scored from a Solution perspective and Customer Value perspective.

It provides a breakdown of Solution scoring for each vendor on an overall category level. This includes each provider’s comparative capability to support:
  • Catalog management
  • Shopping/requisitioning
  • Ordering/order management
  • Receiving
  • Invoice structure/capture
  • Invoice collaboration
  • Compliance
  • Additional invoicing technology components
  • Financing
  • Payment
  • Supplier network
  • Configurability
  • Technology/architecture
  • Services
Solution scoring is based on analysis of individual vendor capability, including in-depth technology reviews, a highly detailed Spend Matters RFI and live demonstrations and Q&A by the Spend Matters team. The Customer Value score stems from aggregated direct customer input (survey based).

The SolutionMap also provides insight into how customers scored each Supplier Management vendor based on a Customer Value scorecard (e.g., likelihood of recommending the provider, level of value perceived, business value, ability to meet expectations, deployment speed, ROI, TCO and innovation). The Spend Matters SolutionMap database includes more than 275 customer references collected in 2017.

Our “map” approach intentionallt does not “co-mingle” Solution and Customer Value scoring, allowing readers to prioritize what matters most to them.

Using SolutionMap

While Spend Matters does not recommend that existing and potential customers of providers use technology and customer scoring alone to shortlist or evaluate technology providers, the insight, along with SolutionMap persona-based ratings, provides a point-in-time perspective that may be useful as either a starting point in an evaluation or a contributing factor to a formal software selection process.

Going Deeper in the Data

Spend Matters reserves its most granular level of scoring and analysis for our practitioner advisory clients, and we invite procurement organizations to contact us for more information.

For example, Spend Matters maintains highly granular scoring insights and ratings in specific areas such as supplier network capability (e.g., supplier on-boarding, supplier information management, supplier performance and risk management, catalog management, order management, invoicing, other supplier network value-added services and ability to connect to multiple networks).

This allows us to provide highly granular insight in how specific solutions compare to both an industry standard Spend Matters benchmark and peer group/competitive vendors for each of these areas to support technology selection processes. We allow PRO subscribers — and on a much deeper level, our practitioner advisory clients within procurement organizations going through a selection process — to get into the data as much or as little as they required.

Spendency: Vendor Snapshot (Part 2) — Product Strengths & Weaknesses [PRO]

Analytics

Like other areas that fall into what we describe as the strategic procurement technology segment (which includes strategic sourcing, supplier management and contract management), the spend analytics sector remain a high-growth yet fragmented market. Spend Matters market sizing models suggest a healthy double-digit CAGR for spend analytics in 2017 and 2018, although not one solution provider has been able to create a leadership position overall. Within this market segment, Spendency, a relatively new Nordic-based provider, has quietly built significant traction with a self-service spend analytics offering, supported by enabling services via its partners and investors for those customers who do not want a DIY tool alone.

Since releasing the first version of its cloud-based application in 2015, Spendency has proven a fit with several dozen middle market customers and some larger organizations, as well. Originally focused on signing up Scandinavian organizations, Spendency is now making a play for the global spend analysis market. The solution is quick to get up and running, easy to use, and satisfies the 80/20 rule for organizations that just need a basic spend analysis solution to get started on their analytics journey.

This Spend Matters PRO Vendor Snapshot explores Spendency’s strengths and weaknesses, providing facts and expert analysis to help procurement organizations decide whether they should consider the provider. Part 1 of our analysis provided a company and detailed solution overview, as well as a recommend fit list of criteria for firms considering Spendency. The third part of this series will offer a SWOT analysis, user selection guide, competitive alternatives, and additional evaluation and selection considerations.

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

You can count on the timing like procurement technology clockwork. Every time a spend analytics vendor is acquired, a new one pops up, always with a slightly different take on previous-generation solutions. One of these relatively new spend analytics providers is Spendency, a cloud-based provider spun out of a procurement consultancy that focuses on the Nordic market (although it is not limiting its geographic focus and reach).

Spendency is attempting to fill a niche as one of only a few low-cost spend analytics solutions that is fast to stand up and comparatively inexpensive to deploy. The idea behind the toolset is to put spend analytics in the hand of every buyer and analyst that needs it with a low-cost entry point. Specifically, the solution starts at about €10,000 per year for a small or mid-size organization, a sum that is less than 5% of the annual costs that many organizations pay for other spend analysis solutions today. At this price, Spendency provides significant value for money for an end-to-end spend analytics solution.

So far, Spendency’s niche is proving itself to be significant in the market, as the provider has acquired more than 60 clients in 24 months since launch. But will it succeed on the global stage with diverse competition ranging from ERP vendors to procurement suite providers to AI-led specialists to numerous other low-cost, do-it-yourself spend analytics platforms? This Spend Matters PRO analysis provides an overview of Spendency, letting our subscribers form their own opinions (while sharing more than a few of our own).

The three-part Vendor Snapshot series provides facts and expert opinion to help procurement organizations make informed decisions about Spendency and whether its capabilities are a fit for their needs. Part 1 of our analysis provides a company background and a detailed solution overview, as well as a summary recommended fit suggestion for when organizations should consider Spendency for procurement and spend analysis. The remaining parts of this research brief will cover product strengths and weaknesses, competitor and SWOT analyses, and insider evaluation and selection considerations.