Afternoon Coffee: Q4 SolutionMap update is out; SIG links up with PeopleTicker; Mintec wins digital tech award

Spend Matters today released its Q4 2019 SolutionMap today, ranking 59 procurement software companies across 12 solution categories, including E-Procurement, Sourcing, Spend Analytics, Supplier Relationship Management, Contract Lifecycle Management and Contingent Workforce & Services. See which new providers joined the rankings this quarter — and to see how to access the rankings for free: read more here.

SIG links up with PeopleTicker

SIG (Sourcing Industry Group) announced a new partnership with PeopleTicker, a real-time salary and labor rate data provider. SIG members now have complimentary access to a real-time global labor rate index of nine sourcing, procurement and risk job functions in 17 select cities across the United States and Canada. SIG members also receive a significant discount upon access to PeopleTicker's "online job store."

According to the announcement, PeopleTicker’s proprietary technologies provide procurement professionals, HR, and hiring managers with a unique view into workforce supply and demand analytics for both contingent and salaried employees. PeopleTicker also offers consulting services for corporate enterprises, MSP, VMS, Staffing and other service providers "seeking unbiased, expert analysis of job markets and tracking of fluctuations in human capital management," the press release stated.

“We are excited to announce this partnership,” said Dawn Tiura, President and CEO of SIG. “Our members regularly tell us that talent management and access to benchmarking data are two of the biggest issues that they face."

In October, Spend Matters and SIG announced a new partnership to provide SIG buy-side members with procurement solutions intelligence and services to help them advance their digital procurement efforts (specifically discounted access to discounted member access to Spend Matters’ SolutionMap Accelerator and Spend Matters PRO).

New study shows CFOs are underestimating transformative power of procurement

A new study by A.T. Kearney has revealed that external procurement spending was the single-largest cost element for most companies and a crucial component of their value chains. Many companies, however, failed to realize the powerful benefits that procurement can bring, according to a press release. The study showed over half of CFOs surveyed thought of procurement as a transactional function (still!) that is primarily useful for negotiating hard cost savings. (Ed. note: the more things change, the more they stay the same...)

Mintec wins Digital Technology Award

And market data and intelligence provider Mintec "has been named Winner of the Digital Technology Award category in the Grand Final of this year’s European Business Awards," according to this release. Read full details by following the link.

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