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Tradeshift By the Numbers (1H 2018) and a New Bank Offering (The “Early Payments Wallet”) [PRO]

In New York City yesterday, following the announcement of a $250 million funding round, Tradeshift provided an update to analysts, customers and partners. We covered a couple of the general updates already, including the announcement of a new receivables-centric application and supplier network offering (see: Tradeshift’s “Sellers Club” Targets Bottomline and Accounts Receivable Technology With a Many-to-Many Offering) and parallels Tradeshift is drawing from others in developing its own strategy (see: Tradeshift Analyst Day Dispatch: “Do You Want Amazon to Own Your Supplier Relationships?).

In today’s Spend Matters PRO coverage, we turn our attention to other announcements from the event, including a general corporate update (i.e., Tradeshift by the numbers) and other product announcements. The emphasis is on Tradeshift’s new bank-centric offerings that support early payment programs, including bank and multi-bank funding options, along with KYC (Know Your Customer) and the other alphabet soup requirements that banks require from a supplier/customer onboarding standpoint. We’ll also share our observations coming out of the event. Let’s begin.

5 Reasons to Bet For and Against Coupa (Part 2: The Blindsided Prince) [PRO]

Owing to its focus on “business” spend management and public company status, Coupa continues to serve as an ambassador and proxy for the procurement technology sector overall. As I noted in the first installment of this series — 5 Reasons to Bet For and Against Coupa (Part 1: The Virtuous ‘Cloud’ Prince) — it seems everyone has an opinion on Cramer’s new “Cloud Prince.” I shared five reasons I’d bet on Coupa from a procurement (not capital markets) perspective.

Today, to balance things out, I turn negative and introduce five reasons I’d bet against the firm, primarily revolving around how the sector and procurement, finance and supply chain may change around it. I’ll lump these reasons under the theme as “blindsided prince,” since I believe Coupa’s biggest risks come from outside, not within.

Q2 2018 SolutionMap E-Procurement, Invoice-to-Pay and Procure-to-Pay Release Notes

This Spend Matters SolutionMap Insider Release Note provides insight into the Q2 2018 SolutionMap release for E-Procurement, Invoice-to-Pay (I2P) and Procure-to-Pay (P2P), reviewing the process that we follow and highlighting what has changed since the last release.

The Q2 2018 SolutionMap release saw a number of changes from the Q1 2018 release. This includes the addition of the following new providers: SynerTrade and Jaggaer Indirect. Additionally, a number of providers have received updated scoring based on the submission and demonstration of new production technology release capabilities. In addition, the Procure-to-Pay customer reference set grew by over 50 individual customer references in Q2.

This SolutionMap Insider research note provides insight into these and additional changes in the Q2 2018 SolutionMap release.

Q2 2018 SolutionMap Release Notes: Source-to-Pay (S2P)

This Spend Matters SolutionMap Insider Release Note provides insight into the Q2 2018 SolutionMap release for Source-to-Pay, reviewing the process that we followed for this inaugural release.

The providers in the Q2 2018 Source-to-Pay SolutionMap include Determine, GEP, Ivalua, SAP Ariba, SynerTrade and Zycus. All of these providers were required to participate in SolutionMap for each underlying module, as well. These individual areas include Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management, E-Procurement and Invoice-to-Pay. All of these providers are also included in the individual Strategic Procurement Technologies (SPT) and Procure-to-Pay (P2P) suite views.

This SolutionMap Insider research note provides insight into these and additional considerations in the Q2 2018 SolutionMap release. The Source-to-Pay customer data set is composed of a subset of the 700+ individual organization references included in the overall SolutionMap scoring as of Q2 2018*.

*Customers using more than one module that a vendor provides can opt to fill out a single survey within each individual suite area (e.g., a customer using two modules for P2P and four modules for SPT would only need to fill out two surveys).

Q2 2018 SolutionMap Release Notes: Sourcing, Spend Analytics, SRM, CLM and Strategic Procurement Technology Suites

This Spend Matters SolutionMap Insider release note provides insight into the Q2 2018 SolutionMap release for Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management, and Strategic Procurement Technologies Suite SolutionMaps, reviewing the process we follow and highlighting what has changed since the last release.

Within the individual areas covered in this brief, the following provider has been added to the Q2 2018 release: Bonfire. Additionally, providers such as EC Sourcing, Ivalua, and SynerTrade have received updated scoring following the submission and demonstration of new capabilities based on production releases of individual modules. (Non-GA capabilities are not considered in SolutionMap scoring.) Perhaps most important, over 100 new customer references were added in the Strategic Procurement Technology areas for Q2.

This SolutionMap Insider release note explores these and additional changes in the Q2 2018 SolutionMap release.

5 Reasons to Bet For and Against Coupa (Part 1: The Virtuous ‘Cloud’ Prince) [PRO]

One of the best validations of the procurement technology sector is to see irrational exuberance from those who know comparatively little about it as they begin to speculate more aggressively on who is going to win in the market. Hearing Cramer call Coupa the “Cloud Prince” was but one example of the dozens I’ve heard both publicly and in one-on-one conversations in recent weeks from those outside the procurement solutions world.

These days, it seems everyone has an opinion on Coupa. Sometimes this speculation and soap-boxing grates on me because, in theory, it could mislead those within procurement and finance from making the best decisions if they get wrapped up in the noise. But it’s a price worth paying. Every insider — including everyone on the front lines of procurement, every tech vendor, every consultant, every analyst — should welcome every minute of attention Coupa gets. Why? Because it means there is going to be plenty of cash to fund the next generation of innovation for the sector.

Procurement is red hot right now, and honestly, shouldn’t saving money always be hot? But just how hot is Coupa? While I have real work to do providing a final set of eyes on some 250+ pages of draft copy for the Q2 SolutionMap Insider publications this week, I thought I’d procrastinate and share my own prognostications on Coupa and the arguments I’d make on betting both “for” and “against” the new crown prince — and also offer some fantasy sports commentary on just whom I’d combine Coupa with from the comfort of my lazyboy to conclude things (and luckily our SolutionMap framework lets us mix and match providers in different combinations — something that some of our early adopter practitioner clients are starting to explore in their evaluations).

Today I’ll start with five reasons I’m bullish on Coupa for procurement organizations — the company, not the stock, which is an important distinction as I have no opinion on share prices — by sticking with Cramer’s “prince” analogy. Of course I can’t help but think back to a philosophy class in 11th grade with Dr. Morinelli where we learned and debated Machiavelli's “The Prince.”

Virtuous princes, as Wikipedia translates and paraphrases Machiavelli, “rise to power through their own skill and resources (their ‘virtue’) rather than luck … [even though comparatively they] tend to have a hard time rising to the top, once they reach the top they are very secure in their position. This is because they effectively crush their opponents and earn great respect from everyone else. Because they are strong and more self-sufficient, they have to make fewer compromises with their allies.”

How is Coupa the virtuous [resourceful] prince for procurement? Read on as we explore the five reasons I’d bet on Coupa’s continued success at the same levels of the past.

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

Per Angusta is the only technology solution Spend Matters has reviewed that is entirely focused on program management in support of category, sourcing and supplier and broader procurement activities. Moreover, the provider represents a unique case in which it is increasingly focused on developing tight, platform-based integrations with leading source-to-pay suite and module providers, embedding its capabilities out-of-the-box on an integrated basis with third-party technologies.

This two-part Spend Matters PRO Vendor Snapshot provides facts and expert analysis to help procurement organizations make informed decisions about whether Per Angusta, as a standalone or integrated program management solution, should be looked at as a “nice to have” or a mandatory extension of their current capabilities and solutions. 

Part 1 of this series provided key facts on Per Angusta, a detailed solution overview and shortlist criteria for organization that should prioritize the provider. Part 2 provides an analysis of Per Angusta’s strengths and weaknesses, as well as summary recommendations on when to consider Per Angusta as a technology to support program management requirements.

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

tech

You might infer from our research on program management solution capabilities that we view this component of procurement technology solutions as a “missing link” (see Part 1: Design Building Blocks and Part 2: Functional Building Blocks). Simply put, program management technology components — mirroring or in fact driving process requirements when an organization has not yet defined them — is quickly becoming a key requirement for strategic sourcing and broader procurement success, especially in more advanced organizations.

Few source-to-pay technology suites and modules, however, bring program management components that deliver sufficient capabilities to support procurement requirements. This is where Per Angusta comes in. Per Angusta is a technology solution designed solely for category, sourcing, supplier and supply management program management. It’s also a platform in the definitional sense — think “PaaS” — as it supports open, deep and application-specific integrations with third-party procurement technologies that organizations might have in place already or are in the process of selecting and implementing.

This two-part Spend Matters PRO Vendor Snapshot provides facts and expert analysis to help procurement organizations make informed decisions about whether Per Angusta should be considered alongside other source-to-pay technologies (or as an embedded solution to extend them). Part 1 provides key facts on Per Angusta, a detailed solution overview and shortlists criteria for organization that should prioritize the provider. Part 2 provides an analysis of Per Angusta’s detailed strengths and weaknesses and summary recommendations on when to consider Per Angusta.

Corcentric Acquires Source One: Transaction Analysis (Part 1) — Background, Rationale and Deal Analysis [PRO]

Corcentric, a unique amalgam of accounts payable automation, order-to-cash, trade financing and group purchasing organization (GPO) software and services, announced earlier in May it would acquire Source One, a boutique sourcing and procurement consultancy. Terms of the transaction were not announced, but Spend Matters believes they are in line with the increasingly higher revenue and EBITDA multiples procurement consultancies and services firms have afforded themselves as of late.

For those unfamiliar with the closely held Corcentric, the name is the permanent rebrand of Corcentric and AmeriQuest. Both companies are based in the Philadelphia metropolitan area, arguably a critical factor for Corcentric to realize the full synergies from this targeted acquisition, especially given the relatively small size of Source One.

This two-part Spend Matters PRO research brief provides insight into the transaction. Part 1 provides an overview of the acquisition and background on Source One. Part 2 will provide an analysis of the transaction and our opinion on what it means for the broader procurement consulting and solutions market.

HICX: Vendor Snapshot Update (Part 2) — Product Strengths and Weaknesses, Customer Perspective and Summary Recommendations [PRO]

HICX is representative of a provider that excels in a single platform-level element of a particular discipline (i.e., master data management within supplier management), using this element to build competitive differentiation and a strong customer following in a highly competitive marketplace. While much of our original Spend Matters Vendor Snapshot from 2016 (see Part 1 and Part 2) on HICX remains an accurate review of the provider in 2018, the MDM specialist has leveraged its core strengths to deliver adjacent capabilities and product line extensions.

This two-part Spend Matters PRO Vendor Snapshot Update provides an update to our previous analysis HICX. Part 2 provides updated strengths and weaknesses, customer reference insight and summary recommendations on when to prioritize HICX as a shortlist candidate. The first installment of our 2018 update provides 2018 key facts on HICX, a solution overview, a recap of its overall footprint and solutions, insight into new features and capabilities, and a competitive landscape update.

HICX: Vendor Snapshot Update (Part 1) — Updated Facts, Solution Footprint, Solution Enhancements and Competitive Landscape [PRO]

In our last deep dive analysis of HICX, a U.K.-based supply chain master data management technology firm, we noted that the provider delivered a unique set of supplier-centric MDM capabilities coupled with configurable workflow for buyers and suppliers. Our original HICX Vendor Snapshot series (see Part 1 and Part 2) still provides a useful foundation for those considering the MDM specialist as a shortlist candidate for supplier management.

For those evaluating HICX, we also recommend the latest Q1 2018 Supplier Management SolutionMap Insider coverage to understand how the provider compares in the supplier management and risk management market on a comparative basis.

This two-part Spend Matters PRO Vendor Snapshot Update provides an refresh to our previous analysis of HICX. Part 1 provides updated key facts on HICX, a solution overview and a competitive landscape update. Part 2 provides updated strengths and weaknesses, customer reference insights, and summary recommendations on when to consider HICX as a top shortlist candidate for supplier management.

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.