BuyerQuest: Vendor Analysis 2020 Update (Part 1) — Company & Solution Overview and Tech Selection Tips

This three-part Spend Matters PRO Vendor Analysis is an update of our 2017 series on BuyerQuest, an e-procurement provider known for its user interface then and since has been building out its full P2P capabilities with a focus on e-invoicing and payments.

Many e-procurement providers can stand to improve their UI, a topic that we have written about extensively (here, here, here, here).

To become a full P2P solution, providers that do not invest in an end-to-end user experience can’t compete in today’s market. That’s why we like to see BuyerQuest taking the first steps in this direction. BuyerQuest’s path to competing in the P2P market can happen through through organic growth or new acquisition. We’re eager to see where it goes.

BuyerQuest, founded in 2011, has grown from being a leading e-procurement solution with an easy-to-use digital marketplace to become a full P2P provider that offers three solution packages: Marketplace, eProcurement and Procure-to-Pay that include a set of modules to deliver its value: Storefront, Services, Quote, Suppliers, Platform, Requisitioning, Order, Contracts, Analytics, Payables.

In Spend Matters’ SolutionMap ranking of e-procurement offerings, BuyerQuest attained “Value Leader” status in our Nimble and Turn-Key personas. The Value Leader designation indicates that a solution has high scores for capabilities relative to peers and has good feedback from customers.

This series will provide facts and expert analysis to help procurement organizations make informed decisions about BuyerQuest and whether its capabilities are a fit for their needs. Part 1 will provide company background and a detailed solution overview. The remaining parts will offer product strengths and weaknesses, a company SWOT analysis, details on competitors and the market, and tech selection tips.