Scanmarket: Vendor Analysis, 2020 Update (Part 2) — Product Strengths and Weaknesses, Tech Selection Tips

This updated Spend Matters PRO Vendor Analysis explores Scanmarket’s strengths and weaknesses, providing facts and expert analysis to help procurement organizations decide whether Scanmarket’s solution fits their needs and whether they should shortlist the vendor.

Scanmarket is one of the last remaining independent “upstream” procurement technology suite providers. While it brings particular capability and expertise in running both simple and complex RFX and auction processes (and formats), it also offers a range of adjacent capabilities in project management, supplier management and contract management.

On many levels, Scanmarket is one of the heirs to the specialized e-sourcing capability pioneered by firms like FreeMarkets and Procuri. And it also represents a targeted and cost-effective alternative to full-suite providers. In addition, Scanmarket offers deeper sourcing capability than procure-to-pay specialists in the market today.

Part 1 of our analysis provided a company background and solution overview, as well as a summary recommended fit suggestion for when organizations should consider Scanmarket in the procurement technology area.

The final installment in this series will offer a SWOT analysis, user selection guide, a look at Scanmarket’s competitors, and additional evaluation and selection considerations.

Let’s examine at Scanmarket’s strengths and weaknesses.