SolutionMap Fall 2020 new vendors (Part 2) — Corcentric Payables (COR360), Uppler and Medius (Wax Digital)

On Oct. 1, Spend Matters launched the Fall 2020 update of its free-to-use SolutionMap, which evaluates procurement technology solutions on their technical capabilities and how customers rate them.

Twelve new vendors participated in the latest release, which has grown to evaluate 77 providers. Read our SolutionMap Fall 2020 launch post for more details, like how to use the benchmark tool for tech selection or how to get your solution into the mix.

We’re excited to introduce you to a few of the vendors who entered SolutionMap this time around:

• Corcentric Payables (COR360)
• Uppler
• Medius (Wax Digital)

In our bios of the recommended new vendors, we will detail in which of our 13 technology categories they compete and where they rank (see the chart below), share some of our analyst research written for subscribers to our PRO content, give feedback from our subscription SolutionMap Insider content called the Provider Scoring Summary reports (subscribers can use the summaries to compare vendors and their scores in more detail — see a sample summary). You’ll also hear from some vendors about being part of the SolutionMap benchmarking process.

Where Vendors Rank:

Corcentric Payables (COR360)

Corcentric Payables (COR360), a Cherry Hill, New Jersey-based company, added a payments feature to its toolkit in 2017, helping extend its AP automation capabilities for S2P customers that are looking for payment solutions. Corcentric Payables links the payments process, invoice automation and the customer’s ERP into one connected workflow so invoices can move from payment approval to payment disbursement with less manual intervention. Corcentric Payables offers clients the ability to do last mile payments to suppliers using ACH, check or virtual card.

Corcentric Payables sits within the Invoice-to-Pay (I2P), AP Automation and Procure-to-Pay categories and has acquired the following positions in SolutionMap Fall 2020:

• Nimble persona: Customer Leader
• Deep persona: Customer Leader
• Configurator persona: Customer Leader
• Turn-Key persona: Customer Leader

The map below shows the Turn-Key persona and the quadrant in which Corcentric Payables performs particularly well as a Customer Leader for Invoice-to-Pay. (See additional maps for the other personas in which the firm performs.)

(Click image to enlarge)

In recent Spend Matters’ PRO coverage of Corcentric Payables, our contributing author David Gustin said:

“Corcentric Payments offers Cor360 Payables clients a totally integrated one-stop solution that starts from upstream invoice processing to downstream last mile payments,” Gustin wrote. “A critical part of the e-payment solution is to reduce the amount of invoice payments with paper checks and to increase rebate income in the process. Moving away from paper checks, shifting to e-payments, and consolidating the activity into a single cloud-based platform makes fraud reduction possible as well.”

The SolutionMap Provider Scoring Summary for Invoice-to-Pay states:

“Corcentric Payables has a unique approach to payment financing using its own cash to support its programs; SCF enrollment is already integrated into DCP Invoice Management (a product built from the acquisition of Determine).”

Constantine Limberakis, Senior Director of Product Marketing and Analyst Relations at Corcentric, told Spend Matters: “Our experience with SolutionMap has been the ability to get a true reading of the market from many different dimensions — a true barometer. This has not only helped us understand where our solutions sit competitively, but given our recent acquisitions, also act as a guide for strategic customer engagement and product development.”

Uppler

Uppler is a New York-headquartered cloud-based software solution that creates B2B marketplaces and e-procurement platforms. It is backed by support services for a fast implementation and supplier onboarding. It also supports suppliers with fast enablement so they can quickly start doing business with buyers.

Uppler sits within the E-Procurement category and has acquired the following positions in SolutionMap Fall 2020:

• Nimble persona: Value Leader
• Deep persona: Customer Leader
• Configurator persona: Customer Leader
• Turn-Key persona: Customer Leader

The map below shows the Nimble persona and the quadrant in which Uppler performs particularly well as a Value Leader for E-Procurement. (See additional maps for the other personas in which the firm performs.)

(Click image to enlarge)

In recent Spend Matters’ PRO coverage, P2P analyst Xavier Olivera said:

“The Uppler solution is a 100% public cloud solution with a SaaS architecture,” Olivera wrote. “It supports load-balancing to specific single-use database instances so each client has a virtual single instance and capabilities. The license includes unlimited users and transactions with no additional fees. Uppler plans new platform feature releases for every two months.”

The SolutionMap Provider Scoring Summary for E-Procurement states:

“Although Uppler’s customer count is still small, they could be a good solution for those companies that require a Nimble E-Procurement provider or a B2B marketplace solution with punch-out options.”

Zoé Kahn, an account executive at Uppler, told Spend Matters:

“The Spend Matters selection process is very serious and we are delighted to have been able to be part of it. Following an in-depth analysis of the various functionalities and a series of demonstrations of the solution, Uppler is now taking its place alongside the leaders in e-procurement solutions.”

Medius (Wax Digital)

Medius (Wax Digital), a leading provider of SaaS-based Source-to-Pay solutions, offers a modular spend management suite covering Spend Analytics, Sourcing, SXM, Contract Management, Procurement, AP automation and Payments.

It has entered SolutionMap in the E-Procurement, I2P, P2P, AP, CLM and SXM categories and has acquired the following E-Procurement positions in SolutionMap Fall 2020:

• Nimble persona: Value Leader
• Deep persona: Customer Leader segment
• Configurator persona: Customer Leader segment
• Turn-Key persona: Customer Leader segment

The map below shows the Nimble persona and the quadrant in which Medius (Wax Digital) performs particularly well as a Value Leader for E-Procurement. (See additional maps for the other personas in which the firm performs.)

(Click image to enlarge)

Medius acquired Wax Digital in 2019, and in Spend Matters’ PRO coverage of Medius (Wax Digital) 2019 our analysts said: 

“Wax Digital offers a relatively complete, integrated source-to-pay solution on one code base that is already used globally in more than 100 countries. This approach allows Wax Digital to claim numerous strengths for sourcing capabilities that its competitors cannot, such as the ability to connect with adjacent suite areas like supplier onboarding/management or easily integrate third-party applications and data. And, as the SolutionMap (2019) benchmark demonstrates, its backbone in sourcing capabilities (e.g., RFX construction, surveys, opportunity analysis) are often above average, too, making a strong case for Wax Digital to be considered for competitive shortlists where true end-to-end S2P capabilities are desired …”

The SolutionMap Provider Scoring Summary for E-Procurement states: “Medius (Wax Digital)’s key strengths are its highly configurable platform for a customized shopping UX and its proprietary iPaaS (Integration Platform as a Service) offering Medius Connect that facilitates integration with support systems for purchasing functions. It is a recommended platform for automating both complex and non-standard scenarios and a recommended fit for those companies that require strong integration with Microsoft environment.”

Daniel Saraste, SVP Product Strategy and Innovation at Medius, told Spend Matters: “We are pleased to be featured as Value Leader in the SolutionMap. Relentless innovation and customer success focus is what drives our organization to perform globally, and we are proud to have received this recognition. With $150 billion annual spend through our platform and strong growth across all regions, being recognized by Spend Matters adds to our positive momentum.”

Subscribe to PRO content here.

If you are wondering how to get your solution included in Spend Matters’ SolutionMap rankings, read SolutionMap Vendor Selection here.

Become a SolutionMap Insider member here to get the behind-the-scenes details.