Wax Digital: What Makes It Great (Sourcing SolutionMap Analysis) [SolutionMap]

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While plenty of vendors like to wax poetic about how complete or end-to-end their procurement solutions are, few of these ballads stand up to critical scrutiny. Many vendors that tout their “unified platform” often cannot deploy their solutions with as seamless of a module integration as initially claimed.

This is not the case with Wax Digital, a UK-based provider that offers a relatively complete, integrated source-to-pay solution on one code base that is already used globally in more than 100 countries. This approach allows Wax Digital to claim numerous strengths for sourcing capabilities that its competitors cannot, such as the ability to connect with adjacent suite areas like supplier onboarding/management or easily integrate third-party applications and data. And, as the SolutionMap benchmark demonstrates, its backbone in sourcing capabilities (e.g., RFX construction, surveys, opportunity analysis) are often above average, too, making a strong case for Wax Digital to be considered for competitive shortlists where true end-to-end S2P capabilities are desired.

But where does Wax Digital stand out most and help “set the bar” in sourcing, and why should this matter for procurement and finance organizations? Let’s delve into our SolutionMap benchmark to find out where Wax Digital is great.

“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.

Bullhorn Acquires Erecruit — Is It Relevant to Contingent Workforce Managers? [PRO]

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Bullhorn, a leading provider of comprehensive software for staffing/recruiting agencies, recently announced its acquisition of its rival Erecruit. Terms of the acquisition were not disclosed, but the combined companies (each of which have acquired key competitors over the past several years) now serve about 11,000 staffing supplier customers, primarily in the U.S. and Europe. Note: Bullhorn has reported that 95% of its customers are temp staffing agencies vs. 5% placement agencies and executive search services; and we assume there was a similar ratio for Erecruit.

Bullhorn’s acquisition of Erecruit is in itself a significant event within the staffing industry. But it also led Spend Matters to ask some questions:

* Do contingent workforce managers take an interest in what is going on upstream in their supply chains? That is, beyond standard performance metrics (cost, speed, quality) which treat staffing suppliers mostly as black boxes that produce certain commodity outputs (submittals, candidates, quality hires, et al.).
* Do practitioners consider which technology providers that their staffing suppliers are using, how much they are investing in technology and digital transformation, or how they are innovating for the benefit of its business clients and workers?
* Finally, do those investments in technology, digital transformation and innovation put those suppliers in a better position to provide talent and service to a demand-side organization? These seem like important questions with either a one-word answers (i.e., “no”) or multi-word answers (with potentially many viewpoints and long discussions that cannot take place within the boundaries of this brief).

Accordingly, in this brief, we are not going to delve into those questions as such, but rather focus on Bullhorn’s acquisition of Erecruit (what’s the context, what’s in it, what lies ahead). Then, contingent workforce managers can form their own thoughts about how important upstream supply chain (and specifically, technology) changes are and how much attention and consideration they merit.

So let's look at this deal and how these two entities (once direct competitors, now a single business) stack up ...