Scanmarket: Vendor Analysis, 2020 Update (Part 1) — Background & Solution Overview

In Spend Matters’ last PRO Vendor Analysis of Scanmarket, we noted that the market for source-to-contract suites (inclusive of spend analytics, e-sourcing, supplier management and contract management) was less crowded than before. Many providers with capabilities focused on this area expanded their product offering to transactional procurement, and the number of targeted suite providers focused solely on the source-to-contract (S2C) market declined.

But over the last three years, the competition here has started to increase again. Many of the new generation of e-sourcing providers have followed in the footsteps of their predecessors and added contract and supplier management capabilities to their offerings. And in some cases, vendors that started out in contract lifecycle management (CLM) or supply base management (SBM) are expanding into e-sourcing as well.

But given the demise of IBM Emptoris and Jaggaer’s acquisition of Bravo Solutions (although it technically added P2P before the acquisition), Scanmarket has emerged as the veteran vendor in the S2C space — and it is probably the vendor with the most traction and the largest customer base. Since our 2017 analysis, Scanmarket has focused primarily on improving its contract authoring and supplier management capabilities. And it is a solution provider that is more than standing its ground in a market where consolidation and the march to hybrid strategic and transactional suites is becoming the vendor norm.

This updated three-part PRO series provides facts and expert analysis to help buying organizations, suppliers and partners make informed decisions on Scanmarket’s source-to-contract capabilities. Part 1 of our analysis provides a company background and detailed solution overview, as well as a summary recommended fit suggestion for when organizations should consider Scanmarket in the procurement technology area. The rest of the research series will cover product strengths and weaknesses, a look at competitors, a company SWOT analysis and tech selection tips.

Let's take an updated look at Scanmarket.