Spend Matters releases the Fall 2024 SolutionMap Insider featuring 93 procurement technology solutions and TPRM module launch

Today Spend Matters is delighted to announce the release of its Fall 2024 SolutionMap and TechMatch^SM procurement technology rankings, which include 93 procurement technology vendors.

Known as the most data-centric functionality assessment of procurement technologies in the industry, SolutionMap Insider put these 93 procurement technology vendors through rigorous functionality and capability assessments via 500+ RFI requirements across 15 kinds of procurement technology solutions, with mandatory demos and impartial, anonymized customer ratings.

Having been heavily involved in this cycle’s SolutionMap, the Spend Matters analyst team noted:  

“In addition to being an update of already-participating vendors and net-new vendors, our Fall 2024 SolutionMap release includes a new module: TPRM/SCRM. This module is a focused-view of ‘all things risk,’ which includes a variety of vendors from various segments (suites, supplier management, and TPRM and SCRM specialists). It provides insights on vendor capabilities to cover various customer requirements and solution landscape-related scenarios and considerations. Look out for Spend Matters dedicated coverage of those over the next few months.”

Highlights this SolutionMap Insider cycle

 15 new vendors were added to SolutionMap this cycle: 

• AP Automation/Invoice-to-Pay: Data Semantics
• Contract Lifecycle Management: Conga, Mercanis, Raindrop
• Source-to-Contract: Mercanis, Raindrop
• Sourcing: Globality, Mercanis, Raindrop
• Spend Analytics: Creactives, ivoflow, Mercanis, Raindrop
• Supplier Management: Brooklyn Solutions, SupplyChainMonitor (by CreditRiskMonitor), Mercanis, Raindrop
• Supplier Management Risk Enhanced: Brooklyn Solutions, Craft, SupplyChainMonitor (by CreditRiskMonitor)
• Risk Management – TPRM/SCRM: Brooklyn Solutions, Craft, SupplyChainMonitor (by CreditRiskMonitor), Everstream Analytics, Exiger, Prewave, ProcessUnity, Resilinc

And 16 existing vendors now participate in additional modules:

• Contract Lifecycle Management: Certa
• e-Procurement: Tradeshift, Yooz  
• Procure-to-Pay: Tradeshift, Yooz
• Supplier Management: Certa
• Supplier Management Risk Enhanced: Certa, ebidtopay, MeRLIN
• Risk Management – TPRM/SCRM: apexanalytix, Certa, ebidtopay, GEP, graphite Connect, Ivalua, Jaggaer, Kodiak Hub, MeRLIN, Procurence, QAD, SAP Ariba, SupplHi, Trust Your Supplier

New TPRM and SCRM module

This cycle, we are also pleased to announce the launch of the Risk Management module for third-party risk management (TPRM) and supply chain risk management (SCRM) to objectively compare TPRM/SCRM solutions for procurement professionals. While we have  long covered (supply continuity) risk management, including supplier risk, TPRM, SCRM and GRC-related intelligence (some 2,000+ published vendor analyses and articles), as well as our SxM with Enhanced Risk’ Insider SolutionMap data comparison module, the new Risk Management (TPRM/SCRM) SolutionMap allows for a direct functional capability and customer experience comparison of key vendors (a mix of best-of-breed risk, SRM with risk and suite solutions) to better serve the tech-selection and intelligence needs of buyers, consultants, investors and sellers.

See our Risk Management in-depth guide. 

New ‘My Marketing’ functionality

We’re also excited to announce the launch of a new capability within SolutionMap Insider that allows for tailored, generated images to illustrate vendor comparisons. 

“Vendors participating in SolutionMap undergo the most rigorous assessment from a tech capability and customer delivery perspective. That’s what makes this dataset so powerful. Spend Matters has the largest analyst team dedicated to in-depth comparison of solutions in the procurement technology space and pinpointing their differentiators.

“Many buying organizations (and their consulting partners) want to consider a variety of solutions but don’t have the deep and current expertise to understand where and how solutions differ and why that matters.

“We considered how to empower the vendors to communicate their differentiators leveraging the SolutionMap-validated dataset. As such, we’re pleased to introduce the ‘My Marketing’ functionality. It allows a validated vendor to auto-generate easily understood visuals for use in sales, marketing and client communications. Here are two examples:

Source: Spend Matters SolutionMap Insider app, My Marketing for vendors

“We’re passionate about analyzing procurement technology at Spend Matters, and sharing our findings with the market to help advance vendors’ solutions and enable best-fit tech selections for buying organizations.”

— Carina Kuhl, President, Spend Matters

Vendors and their categories

SolutionMap data covers both new and established vendors, and two factors inform the comparisons made within the dataset: technical capability (gathered via a rigorous ‘Request for Information’ or RFI process) and customer ratings. Data is refreshed every 6-9 months.

Scroll sideways for complete coverage.

Company

ePro

AP/I2P

P2P

Sourcing

Direct Sourcing

Sourcing Opt

Contract Mgmnt

Spend Analytics

Supplier Mgmnt

Supplier Mgmnt Risk Enhanced

Risk       Mgmnt (TPRM/SCRM)

Carbon Mgmnt

S2C

S2P

Expense Mgmnt

Agiloft

x

Airbase

x

x

Anaplan

x

AnyData Solutions

x

apexanalytix

x

x

x

x

Archlet

x

x

Arkestro

x

x

AvidXchange

x

Basware

x

x

x

BCG

x

Bedrock

x

x

Brex

x

Brooklyn Solutions

x

x

x

Carbmee

x

Certa

x

x

x

x

x

CobbleStone

x

Conga

x

ContractPodAi

x

Corcentric Payables (COR360)

x

Corcentric Platform

x

x

x

x

x

x

x

x

x

x

Coupa

x

x

x

x

x

x

x

x

x

x

x

x

Craft

x

x

Creactives

x

Data Semantics

x

DeepStream

x

ebidtopay

x

x

x

x

x

x

x

x

x

x

x

x

EcoVadis

x

Efficio

x

x

x

x

x

Emburse Chrome River

x

x

Esker Sourcing (Market Dojo)

x

Everstream Analytics

x

Evisort

x

Exiger

x

Fairmarkit

x

Fraxion

x

x

x

x

Gatekeeper

x

GEP

x

x

x

x

x

x

x

x

x

x

x

x

x

x

Globality

x

graphiteConnect

x

x

x

HICX

x

Icertis

x

Ignite Procurement

x

x

ISPnext

x

x

x

x

x

x

Ivalua

x

x

x

x

x

x

x

x

x

x

x

x

x

x

ivoflow

x

Jaggaer

x

x

x

x

x

x

x

x

x

x

x

x

x

K2 Sourcing

x

Keelvar

x

Kissflow

x

x

x

Kodiak Hub

x

x

x

Malbek

x

McKinsey (Spendscape)

x

x

mdf commerce

x

x

Medius

x

x

x

x

x

x

Mercanis

x

x

x

x

x

MeRLIN

x

x

x

x

x

x

x

x

x

Onventis

x

x

x

x

x

x

Onventis Analytics

x

OpusCapita

x

x

x

Oracle

x

x

x

Precoro

x

Prewave

x

Proactis

x

x

x

x

x

x

x

x

x

ProcessUnity

x

Procurence

x

x

x

x

x

ProcurePort

x

x

Promena

x

x

x

QAD

x

x

x

x

x

Raindrop

x

x

x

x

x

Requis

x

Resilinc

x

RFP360

x

Rosslyn

x

SAP Ariba

x

x

x

x

x

x

x

x

x

x

x

x

x

Scanmarket (Symfact)

x

Sievo

x

x

Simfoni

x

x

x

x

SimpliContract

x

Sirion

x

SpendHQ

x

Spendkey

x

State of Flux

x

Suplari

x

SupplHi

x

x

x

x

SupplyChainMonitor (by CreditRiskMonitor)

x

x

x

Taulia

x

Tipalti

x

Tradeshift

x

x

x

Trust Your Supplier

x

x

x

Varis (formerly BuyerQuest)

x

VORTAL

x

x

x

x

Vroozi

x

x

x

Yooz

x

x

x

Who excels and who is beloved

We at Spend Matters also want to give special attention to the best-of-breeds and suites that top marks for our tech score and those that received the best customer scores.

Best-of-breed solutions

Company	Top Tech Score	Customer Favorite
AP Automation	Tipalti	Tipalti
Carbon Management	apexanalytix	Ignite Procurement
Contract Management	Sirion	Evisort
eProcurement	Promena	Precoro
Sourcing	Arkestro	Deepstream
Spend Analytics	Sievo	Ignite Procurement
Supplier Management	apexanalytix	Kodiak Hub

Suite solutions

Company	Top Tech Score	Customer Favorite
AP Automation	Coupa	Onventis
Carbon Management	GEP	GEP
Contract Management	Coupa	Medius
eProcurement	Coupa	Medius
Procure-to-Pay	Coupa (P2P in S2P) Tradeshift & Basware (pure P2P)	Onventis
Source-to-Contract	GEP	Raindrop
Source-to-Pay	Coupa	ebidtopay
Sourcing	Coupa	Raindrop
Spend Analytics	Coupa	Raindrop
Supplier Management	Coupa	Medius

If you’re new to SolutionMap here are the basics:

SolutionMap launched in 2017 and is published semiannually. Since then, many procurement professionals have subscribed to Spend Matters Insider and TechMatch^SM  to gain access to deeper data cuts and vendor intelligence to drive procurement technology selection decisions. 

Find out more about membership options and request pricing information.

Spend Matters website and Insider technology comparison tool allow solution providers, practitioners, consultants and investors to directly compare vendor feature/function and customer scores on a case-by-case basis, allowing for the most informed technology decision making. 

• Read more about SolutionMap methodology and code of ethics. 
• Read about Insider membership which gives deep insights informed by more than 10 years of independent, zero pay-to-play, brutally honest coverage of vendors, market developments, M&A activity and trends. 
• Freely access Spend Matters TechMatch to directly assess and compare the capabilities of digital procurement solutions.
• Use Spend Matters comprehensive free vendor directory for more information on procurement tech services and vendors.

Still have questions and want to talk to a real person?

If you still have questions, we have a friendly client services team, please reach out.

Thanks to everyone who participated, read about or used SolutionMap, we’re thrilled to get another successful release out.