An Introduction to Spend Matters Vendor Analysis – Sievo
Over the years, our Spend Matters’ analysts have created a whole series of ‘Vendor Snapshots,’ under our PRO subscription offering – but contrary to what the name implies these take the shape of a full-rounded look at a procurement solution provider’s capabilities. They offer facts and unbiased expert analysis to help organisations, suppliers and partners make informed decisions about a solution provider and its offering. Read about them here.
Some of the firms within the wide range of solution providers analysed are originally Europe-based, and some now have grown well beyond their European operations. One such provider is Sievo, and having last covered then in 2017, the analysts have released an update on the firm for 2020.
Sievo was founded in 2003 in Helsinki, Finland, and has other entities in Sweden, Germany, France and the United States, with over 100 customers including some very big name firms. It offers a service-based spend analysis solution, one which our analysts refer to as ‘truly different in the market:’
“Sievo is one of the longest-running, still independent spend analytics providers in the market today … it has long ago moved beyond basic spend analytics and centers much of its value proposition today on driving savings program measurement and management across the full spectrum of spend. How they do this is complex, requiring all of the basics of spend classification, analytics and more …”
So this research brief digs deep into “what” the firm does, “how” and even “why.”
It looks at its spend analysis data services – Sievo takes responsibility for data ‘from source to screen,’ handles all of the integration requirements and takes data from over 100 ERP/data systems, as well as a large number of market data feeds. It also handles the cleansing, normalisation and enrichment of all spend and supply data inputs and offers rollout, onboarding and end-user training, alongside consulting on change management and supports custom market intelligence and category analysis projects.
It looks at its spend analysis – for which the product was originally built. It has a powerful, team-based classification approach that allows users to quickly classify large data sets with comparatively high levels of accuracy. And it looks at its dashboards, savings lifecycle management, demand forecasting, contract (metadata) management and benchmarking capability. All are detailed in terms of their strengths and weaknesses.
The analysis 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 is advisable to read the corresponding Vendor Snapshots for the providers with which the firm is being compared to get a real competitive picture.
It finishes with a handy overview of each competitor and the areas in which they differ, where Sievo has the upper hand, and where it does not. This ‘checklist,’ exposes how the firm stacks up in the global arena in which it is working.
These snapshots are useful, deeply considered and honest analyses of what we can expect from solution providers that are 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. They form part of Spend Matters’ Pro offering which is a subscription service (competitively priced and value for money in our opinion) but the introductory part of each vendor analysis, which is substantial, can be read for free on the main site.
Our analyst promises that Sievo is still “unlike any other provider you have seen in terms of methodology and solution,” so to find out more about this unique analysis read:
- Company background and solution overview – access that here
- Product strengths and weaknesses – access that here
- Comparison to competitors and summary analysis – access that here
Of course there’s a lot more to Pro too – check that out here.
And for further reading on Sievo see our SolutionMap Analysis – What Makes It Great.