Requis: Vendor Analysis — Sourcing solution overview, competitors, tech selection tips, analyst summary

In this Spend Matters PRO Vendor Analysis, we give an overview of Requis, a solution built primarily to support engineering, procurement and construction management companies (EPC/EPCM) to source and buy more efficiently and effectively.

Project-based procurement is the norm in many industries, and sourcing activities require specific capabilities to collaborate internally and externally. This is why Requis focuses on capital project procurement digitization with many collaborative and crowdsourced features. In addition to providing features and value to buying organizations, Requis can also serve as a business development platform for suppliers via its marketplace approach.

This Vendor Analysis provides an overview of Requis, looks at the competitive landscape, provides selection tips and closes with an analyst summary.

Here’s why Requis matters:

• To the market — Requis is focused on sourcing for CAPEX-intensive projects, an area that requires specific capabilities to buy and sell which many generic procurement solutions do not cover, especially when considering the potential for business development and creating a trading network of buyers and sellers.
• To customers — Requis customers include buying organizations and suppliers that benefit from a solution to manage the collaborative aspects of project-based procurement and also to develop business together via marketplaces.
• To potential buyers — Requis targets specific industries where project-based procurement is the norm, providing specific collaborative capabilities to support it that bring value to buyers and sellers.

In this Spend Matters PRO Vendor Analysis we analyze Requis' sourcing solution as well as its platform and services, briefly describe its solution functionalities and end with key analyst takeaways.