SpendHQ Vendor Analysis 2020 Update: Part 2 (Strengths & Weaknesses)

Part 2 of this Spend Matters PRO Vendor Snapshot 2020 Update focuses on the strengths and weaknesses of SpendHQ’s solution and builds on our 2016 review of the spend analytics firm started by Insight Sourcing Group (ISG).

Spend Matters has described SpendHQ’s capabilities as quite unlike any other spend analysis solution in the market today. Since the launch of its initial spend visibility product, SpendHQ has added compliance management, supplier information management and visibility, do-it-yourself reporting and opportunity insights — the latter capabilities being quite unique and one of the few tools that can enable procurement organizations to avoid the need to invest in all but the most complex gain share recovery audits after the fact, a topic we will discuss in Part 2 in this series.

And, this year, SpendHQ released its second major revamp to the SpendHQ platform where it improved the core and completely redid the UX to provide buyers with the insights they need to make more meaningful decisions front-and-center immediately upon login. In addition, the new UX supports best-in-class do-it-yourself report building on par with the best stand-alone spend analysis and BI tools and real-time drill down that can take a buyer to just the data and/or transactions they want to see when they want to see it — from anywhere in the product.

Part 1 provided a history and overview of the SpendHQ spend analysis platform. And Part 3 >Part 3 will have a company-level SWOT analysis, competitive alternatives, a user selection guide, and insider evaluation and selection considerations.

Now let’s look at the strengths and weaknesses.