Covalyze: Vendor Analysis — Cost analytics solution overview, roadmap, competitors, user considerations, analyst summary

In this Spend Matters Vendor Analysis, we provide an overview of Covalyze and its solution for cost analytics.

Many category managers and buyers struggle with data transparency and aggregation. Due to data segregated into multiple systems (ERPs, PLMs), lack of proper MDM, missing technical specifications and manual data management, it is difficult to the point of being nearly impossible to get a holistic view of all the data they need, especially when it comes to deep and detailed information on parts, raw materials, dimensions, surface treatment and so on. Such technical details are important because they drive prices and are critical elements to match parts against supplier capabilities. Having a tool that allows users to explore and analyze a parts portfolio with such technical dimensions (and more) can help very much with the costing process and identification of opportunities.

Covalyze attempts to solve these problems. Using AI, historical company data, third-party data and market data, Covalyze aggregates and analyzes direct materials spend. After doing so, it provides potential savings analysis, benchmarking, target price calculation and more.

This Vendor Analysis explores Covalyze's platform, application and supporting services. It also provides a list of Covalyze's competitors, tech selection tips and key analyst takeaways.

Here’s why Covalyze Matters:

To the market — Covalyze offers deep parts analysis (price/cost-focused) for direct materials using AI to scan historic and customer-specific data.

To customers — Covalyze provides parts analysis, data extraction, market intelligence and more for its customers in the DACH region.

To potential buyers — Covalyze can save category managers and buyers significant time and money, as it takes away many of the manual processes historically required of these roles.