S2P powerhouse Wax Digital adds to our market insights

Source-to-pay suite provider Wax Digital has been capitalizing on source-to-pay market growth in the UK and beyond, and it is a bellwether for the health of the S2P market in the UK.

Unlike other homegrown vendors in the same region like MarketDojo and Keelvar in sourcing, Wax Digital is an end-to-end suite vendor — and one that has successfully defended its turf against bigger global names.

It’s been on Spend Matters’ radar for years (see coverage below). And we’ve recently gained more insight into its capabilities when it joined our SolutionMap category for Supplier Relationship Management and Risk for the Q3 2019 quarterly update. Our analysts evaluated its offering and ranked it against its competitors in the marketplace.

In the SolutionMap SRM & Risk chart below, Wax Digital ranks as a “Value Leader” in the upper right quadrant. That’s because it has high scores for its solution capabilities and for its customer scores in the Nimble buying persona. Check out more SRM results here.

Wax Digital also participates in SolutionMap’s rankings for E-Procurement and Sourcing. In a recent article by Spend Matters’ UK/Europe Editor Nancy Clinton, Wax Digital Director Daniel Ball discussed how customer collaboration drives product development.

“What has really made a difference is an even more acute focus on something that is in our DNA — customer success,” Ball said. “So while we’ve always aimed to work in partnership with our customers … we’ve ramped that up in the last year with the introduction of things like product working parties that deep dive into specific modules or functional areas to understand directly from our customer base how they want our products to move forward. That feedback and insight is then worked directly into our product roadmap and, thanks to our quarterly releases across all modules, clients get to see a return on that investment of time and expertise very quickly.”

Subscribers to SolutionMap Insider, can look for our deeper dives into SolutionMap data in two upcoming articles: a Customer Insights report on Wax Digital and a capabilities review called “Wax Digital: What Makes It Great.”

For more of Spend Matters’ coverage, see the links below.

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