2020 predictions from procurement software experts like Basware, Ivalua, Efficio and more

Spend Matters Europe Editor Nancy Clinton has collected 2020 predictions from a range of procurement software experts like Basware, Ivalua, Efficio, VORTAL, State of Flux and more.

Several posts have already run, and we’ll summarize them here.

Basware

Basware — a global leader in networked purchase-to-pay solutions, e-invoicing and innovative financing services — has predictions about Data and Analytics, the Ecosystem Approach to P2P, Supplier Risk Management, Global Compliance, and Smart Processing and AI.

 On ecosystems, Basware said: “The concept of the ‘end-to-end’ P2P suite is coming to an end. In its place we see the ‘ecosystem’ approach rising. As businesses become more modern and emerging tech businesses and startups continue popping up left and right, it’s unrealistic to think a one-size-fits-all approach is feasible for growing organizations.”

And Justin Sadler-Smith, the General Manager at Basware UK & Ireland added:

“The pressure on CPOs to identify software that can co-exist with current investments and provide rapid ROI will most likely continue well through 2020.”

For all of Basware’s predictions, read them here.

Ivalua

Ivalua is a fast-growing, privately held source-to-pay procurement suite provider, and it offered its 2020 predictions: Uncertainty will continue to reign, environmental supply chains can be a differentiator for organizations and global recession could send procurement back to the dark ages.

On environmental supply chains, it said: “Procurement offers a holistic view of all suppliers, allowing organizations to evaluate true sustainability. Procurement has a vital role to play, and can help businesses turn being green into a competitive advantage.”

For Ivalua’s full insights, click here.

Efficio

Efficio is a leading procurement consultant that helps organizations improve internal processes and upskill procurement teams. It’s 2020 predictions: Content and knowledge take center stage, the need for procurement’s effectiveness will grow, and procurement will be at the heart of environmental and sustainability issue.

On content and knowledge, Efficio said: “As the procurement technology market consolidates and large suite providers reach broader functional parity, the customer focus will move away from function/feature and towards the content and knowledge available via those solutions. Those who win in 2020 will be the companies who harness rich content and make it accessible to the wider organization via technology and tools.”

For the full list of Efficio’s predictions, click here.

VORTAL

VORTAL is a global e-sourcing and e-procurement cloud-based solutions and e-marketplace provider.

Its predictions focus on addressing middle spend, data is becoming more intelligent and more outsourcing of supplier research.

“In 2020 organizations will start to address the ‘middle spend’ more, by this we mean spend that is not quite strategic enough to be considered ‘high end’ but not totally transactional enough to be considered ‘low end’ — spend that is not strategic enough, nor simple enough, to convert into transactional buying.”

Read all of VORTAL’s predictions here.

State of Flux

State of Flux is a global consultant that focuses on procurement management solutions and systems. It’s outlook for 2020 focuses on three areas: supply chain as a competitive advantage, the importance of SRM Technology will grow, and procurement must focus on supplier innovation.

On supplier relationship management, State of Flux said: “We predict that CEOs will start to look for SRM technology as a must-have single data hub within their organization, integrated to third-party data sources to ensure data is shared up and down the supplier chain. Organizations will be tested on how efficiently and quickly they are managing the quality, the volume and the sources of data.”

For all of State of Flux’s insights, click here.

Look for predictions from SAP Ariba and SAP Fieldglass today and tomorrow. Next week, Nancy will publish more predictions on Spend Matters Europe.