In less than a decade, half of the U.S. workforce will be independent workers. A study said more than 30% of the global workforce works in a non-employee capacity and almost 40% of workers under 35 have some sort of “side hustle” in addition to a full-time gig. But what should employers do to ensure these workers are being appropriately hired and utilized while companies gain the full value of their independent workers?
The third and final installment of this updated Spend Matters PRO Vendor Analysis covering Scanmarket provides a SWOT analysis of the provider and looks at Scanmarket’s competitors in a competitive segmentation analysis and comparison.
The landscape for e-sourcing (RFX, auction, category management, sourcing optimization, etc.) is still highly fragmented. There is not a single market-share leader or “dual” leadership in this sector (as is the case with Coupa and SAP Ariba for the procure-to-pay category).
However, one trend in consolidation stands out: Providers focused on the “upstream” areas like sourcing but also supplier management, contract management and analytics have a strategy of either building or buying their way into the procure-to-pay sector — or merging their capabilities with other solution providers in this market.
Yet one nearly full upstream provider focused on this market remains independent: Scanmarket.
(We say “nearly full” because it remains dependent on a partner for spend classification, and it has some functional gaps in the supplier management and contract management areas.)
Of course Scanmarket faces competitors from different segments of providers with either more targeted or overlapping functional footprints. And a number of newer generation e-sourcing providers have set a course to build out their suites to more directly compete with Scanmarket, even if this is more on a regional basis currently.
This Part 3 installment also includes recommended shortlist candidates as alternative vendors to Scanmarket and offers provider selection guidance. Finally, it provides a summary analysis and recommendations for companies considering the vendor.
