Spend Matters Future 5 2024 – Introducing BlueBean
10/10/2024
Spend Matters honors a vast array of procurement solution providers each year by selecting them for our ‘50 to Know,’ ‘50 to Watch,’ ‘Future 5’ and ‘Hall of Fame’ celebration lists. Discover everything you need to know about these accolades here, including who is on them.
For the Future 5, Spend Matters analysts scour the market to find new specialist solution providers that can answer a burning need of procurement practitioners today. Following months of debate based on extensive knowledge of the many procurement technologies they have demoed, analyzed and benchmarked, they arrive at a list of five young providers that they believe are innovative and exciting, have a rapidly rising presence in the market, can grow sustainably and which every CPO should have on their radar. Read our announcement post here.
These start-ups are taking technology further than most to address problems not previously solved, or are introducing a new category of automation that tackles new challenges in interesting ways. We believe these companies deserve greater visibility, especially in a market which is increasingly consolidating and diluting buyer choices.
Get to know all the procurement tech providers that made our lists this year.
We are delighted to introduce you to our Future 5 as we capture their voices.
Today please get to know BlueBean
From our recent analyst-written Vendor Analysis:
Here’s why BlueBean matters:
- To the market — BlueBean is an innovative request-to-pay platform that streamlines procurement and expense management processes without the need for traditional portals, purchase orders, invoices or expense claims.
- To potential buyers — BlueBean offers control over procurement processes, automating accounting tasks and eliminating the need for traditional expense management.
We asked BlueBean CEO Fabrice Saporito:
How did BlueBean come into being?
“I was exposed to the very first procurement application about 25 years ago when I joined IBM. It was a Lotus Note home grown solution called ReqCat. The magic at the time was being able to buy from electronic catalogs stored within ReqCat. Fast forward to today, and the form factor has barely changed. And yet, digital transformations are making it possible for firms to sell online, whether these are products, services, software, etc. So why wouldn’t we be able to buy directly from their website without all that clunky experience? That’s how it all started.
“As for the name, BlueBean was conceived as a concept in ‘Beantown’ (Boston). With Blue being my preferred color, BlueBean.ai was born as a native ai company.”
What are BlueBean’s greatest strengths?
“BlueBean offers a consumer buying experience with universal controls at enterprise scale. That is our greatest strength. And all this is possible because of our team that was born and grew up in the procurement space. So we know what the true pain points are – and this offers us a right to re-imagine P2P.”
What is the road ahead for BlueBean?
“In parallel to serving our customers, which is my primary focus right now, we are expanding our use of AI to further streamline processes before and after payment: policies and contract compliance as well as automated accounting are few of the spaces we continue to focus on. Ultimately. I’d love to see the BlueBean extension on the browser of every employee.”
What does it mean to be named a Future 5?
“Spend Matters is a true reference in our space. So it is truly a great honor to be recognized. Being a Future 5 will certainly boost our ability to grow and be top of our custome’’s minds.”
Read why our analysts selected BlueBean here.
Many thanks to BlueBean for sharing its story with us. We hope the Future 5 broadens our readers’ perception of the art of the possible to help you position your organization for the challenges ahead.
On October 31, the Spend Matters Analyst Team recorded a webinar to explain the selection process behind the 50/50 and Future 5 and what made vendors stand out.
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AP/I2P P2P09/28/2018
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AP/I2P EPRO P2P04/18/2018
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AP/I2P P2P09/28/2018
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AP/I2P EPRO P2P04/18/2018