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Let Us Introduce You to Spend Matters Vendor Analysis – Today, Wax Digital

02/07/2019 By

We’ve featured Wax Digital many times on our site – they’ve contributed commentary for our readers to enjoy, from Comments on Brexit to How To Make Contract Management A Success. We have always introduced them to you, rather generally, as ‘a leading supplier of eProcurement and spend management solutions for midrange to large organisations.’ But we haven’t looked at the firm in any closer detail. However …

That’s what Spend Matters’ analysts do over in the US. They have a series called ‘Vendor Snapshots,’ as part of their Pro offering. These Snapshots provide facts and unbiased expert analysis to help buying organisations, suppliers and partners make informed decisions about a solution provider’s capabilities. They provide, in three parts:

  • Company background and detailed solution overview, and a summary of where and how they recommend a fit – access that here
  • Product strengths and weaknesses – access that here
  • SWOT overview of the firm as a whole, and a comparative and competitive market overview – access that here

They then offer a final summary analysis and recommendations for organisations that might be considering the firm as a potential solution partner.

Now and again, the firms that fall under their magnifying glass are UK- and Europe-based ones, like Wax Digital. So why did they choose to include Wax Digital in their series? — apart from the firm having debuted rather well in the Q4 Solution Map release (watch out for a new release in March).

Our UK-based providers don’t get that much air time on the US site (partly because they aren’t visible to our analysts – consider a Spend Matters Almanac listing) and lose out on getting exposure to a wider audience. But as the analysts announced to their readership “Wax Digital is definitely a provider that should make your familiarization list.”

“Wax Digital, which has been around for almost two decades, is one of the largest European providers of source-to-pay solutions, with users in over 100 countries around the globe. It is available in 15 languages out of the box and supports all currencies under ISO 4217 for its 250,000+ global users.”

The analysis delves into the platform strengths, like Supplier Information Management, Project planning, Meeting Management, Reports and Dashboards, Predefined Roles and Quick Quote Mini Tenders. And its procurement strengths – for example the firm boasts “a 98% client retention rate, software that delivers complete spend control across the purchasing lifecycle (with its web3 software) and enterprise-class integration capabilities, connecting any existing legacy system to our web3 modules through out-of-the-box adapters … deployed via the cloud and are available either as standalone modules within our Source To Contract, Supplier Management and Purchase to Pay suites or as a completely Integrated Source to Pay solution.” The analysis looks in-depth at what the platform offers with an objective eye, and of course, in a balanced way, offering also the drawbacks or weaknesses it sees against a wider market backdrop.

It then goes on to give a competitive market analysis, taking each of what it sees as the main competitors in turn and analysing how they play differently.

It completes with a handy ‘user requirement’ checklist, and in the summary exposes how they think the firm stands up in the largely regional level that it is now working in.

These snapshots are useful, deeply considered and honest analyses of what we can expect from solution providers on the analysts’ radar. They are well worth investigating if you are considering a new, or change of, solution provider – or are just keen to understand more about what’s happening between the competitors in the marketplace.

Many of our readers won’t be familiar with Spend Matters Pro. While it is a subscription service (competitively priced and value for money in our opinion) the introductory part of each vendor analysis, which is substantial, can be read for fee from the main site, with an option to read more if you choose – so it’s worth taking a look even if you haven’t subscribed. Of course there’s a lot more to Pro too – check that out here.