SpendHQ: Vendor Analysis, 2021 update (Part 3) — In-depth details of solution modules, analyst summary

Part 3 of this Spend Matters PRO Vendor Analysis 2021 update focuses on a deeper overview of each part of SpendHQ’s core offering, with a detailed look at each of its modules. We also cap off the series with an analyst summary.

Part 1 focused on SpendHQ’s background, general capabilities, SWOT and its competitors. Part 2 looked at SpendHQ strengths/weaknesses and offered tech selection tips.

Spend Matters has described SpendHQ’s capabilities as quite unlike any other spend analysis solution in the market today. Since the launch of its initial spend visibility product, SpendHQ has added compliance management, supplier information management and visibility, do-it-yourself reporting and opportunity insights, document management, and deep category intelligence across dozens of often under-analyzed categories. The last capability being quite distinctive and one of the few tools that can enable procurement organizations to avoid the need to invest in all but the most complex gain-share recovery audits after the fact.

In 2020, SpendHQ released its second major revamp to the SpendHQ platform, where it improved the core and completely redid the UX to provide buyers with the insights they need to make more meaningful decisions immediately upon login. In addition, the new UX supports best-in-class, do-it-yourself report building on par with the best stand-alone spend analysis and BI tools and real-time drill-down that can take a buyer to just the data or transactions they want to see when they want to see it — from anywhere in the product.

This year, document management was added as was deeper insight into dozens of categories than most organizations ever had.