Spendkey: Vendor Analysis (Part 1) — Spend analytics solution overview, company background, platform and services overview, modules and application overview, roadmap and vision

This analysis contains excerpts from a previously published piece authored by Michael Lamoreaux.

This Spend Matters Vendor Analysis provides an overview of Spendkey and its solution for spend analytics.

In today's competitive business landscape, procurement departments face constant pressure to optimize costs while maintaining the quality of goods and services. Spend analytics solutions are one of the most powerful tool types for this. By providing deep insights into purchasing patterns, supplier performance and areas for cost reduction, spend analytics can transform raw data into actionable intelligence. 

Spendkey is one such tool. While it is fairly young (founded in 2020), Spendkey has positioned itself as a solid spend analytics platform for mid-to-large sized companies in Europe and Asia. It offers a service-based, turnkey analytics solution that provides effective cost avoidance and opportunity programs. 

Part 1 of this vendor analysis provides a detailed overview of each module and includes an analyst summary. Part 2 provides more details on the strengths and opportunities of the solution, a review of the competitive landscape and selection tips. 

Here’s why we think that Spendkey Matters:

To the market — Spendkey is easy to use and offers solid out-of-the-box analysis and insights to players in the European and Asian markets.
• To potential buyers — Spendkey provides a turnkey solution with solid data management, making it a good starting point for organizations that lack spend analysis.