Author Archives: Spend Matters Team

The AvidXchange Customer Experience: What Makes It Great (AP Automation SolutionMap Analysis)

Accounts payable (AP) automation has taken the procurement world by storm recently. One of the perhaps less obvious reasons why is the ability of AP automation solutions to quickly address supplier information management challenges and facilitate supplier collaboration via supplier networks or portals.

AvidXchange, a new participant in the SolutionMap Fall 2020 AP Automation category, exemplifies just these benefits. Its unique combination of services and technology for invoice and payment management is attractive to many organizations seeking to automate or outsource portions of the AP process. And the vendor does this at scale: AvidXchange serves the largest network of unique suppliers in the mid-market, counting more than 680,000 suppliers in North America.

But where does AvidXchange stand out most and help “set the bar” in AP automation, and why should this matter for procurement and finance organizations? Let’s delve into our SolutionMap benchmark for customer scores to find out what makes AvidXchange great.

“What Makes It Great” is a recurring column for SolutionMap Insider subscribers. The columns share insights from SolutionMap updates, which rank offerings from more than 77 vendors in 13 technology areas of procurement. The updates are released in the spring and fall. Based on SolutionMaps’ rigorous evaluation process by our analysts and customer reference reviews, these columns offer quick facts on the vendor, describe where it excels, provide hard data on where it beats the SolutionMap benchmark and conclude with a checklist for ideal customer scenarios in which procurement, finance and supply chain organizations should consider it.

Afternoon Coffee: New unemployment claims rise the most in two months; Walmart interested in TikTok for ‘social commerce’; Pandemic adds to child labor

New claims for unemployment reach almost 900,000 — indicating headwinds for the economy. In other news, Walmart says its supply chain can help monetize TikTok videos. And in pandemic news, the problems with child labor increase around the world as schools close or parents lose their jobs. Afternoon Coffee brings you the latest in procurement and supply chain news.

Afternoon Coffee: Fed expects COVID economic recovery to take year or so; J&J commits $800 million to sustainable packaging; Apple bets on 5G; SIG Summit news

In today's headlines, a Fed official says the central bank's coronavirus policies have helped spur growth but the economy needs a year or so to fully recover. In other news, Johnson & Johnson puts its commitment behind the trend of sustainable packaging. Also, check out details on Apple and 5G. And the SIG Summit is ongoing, so look for coverage or check it out yourself. Afternoon Coffee brings you the latest in procurement and supply chain news.

SolutionMap Fall 2020 launches, now ranking 77 procurement technology vendors

Grab a comfy sweater and a hot pumpkin spice latte (don’t judge): It’s time for the latest SolutionMap release.

With today’s launch of the free SolutionMap Fall 2020 release, Spend Matters’ analysts have assessed 77 procurement technology vendors, adding 12 providers since our Spring 2020 update.

SolutionMap, which began in 2017, has become the definitive procurement technology benchmark due to the depth of analyst assessments, quantity of real-life customer inputs and frequency of release (twice a year) to accurately reflect vendor capabilities and market developments.

SolutionMap rankings are updated to reflect a vendor’s number of customers, employees and revenue per customer

In past SolutionMap charts, a vendor’s “bubble size” solely indicated its number of customers. While that demonstrated some level of market penetration, it did not adequately convey a vendor's experience and resources to handle complex global deployments ... so, we updated it.

Afternoon Coffee: U.S. consumer price index rises; 2 companies scramble to meet demand for rapid COVID-19 test; Lowe’s invests in omnichannel supply chain

In today's headlines, the U.S. economy looks to be on a good path after the consumer price index rose last month. In other news, two companies are struggling to meet the demand for a rapid-response COVID-19 antigen test. Also, Lowe's made a $1.7 billion investment to enhance its supply chain to have two-day delivery for all customers. Afternoon Coffee brings you the latest in procurement and supply chain news.

Afternoon Coffee: Google to finalize SAP Ariba implementation; U.S. re-imposes tariff on Canadian aluminum; payments firm Stripe hires GM exec; COVID-19 relief plan confuses employers

In today's headlines, Google is set to finalize its transition to the SAP Ariba Network this month. Also, the U.S. re-imposed a tariff on Canadian aluminum, raising concerns about the steel tariff. In other news, payments giant Stripe hired General Motors' CFO. Finally, President Donald Trump's executive order for COVID-19 economic relief raises tax payroll questions for employers. Afternoon Coffee brings you the latest in procurement and supply chain news.

Afternoon Coffee: Shipping disruptions following Beirut blast; Kodak probe halts pharma supply chain contract; artificial intelligence to improve shipping times for consumers?

In today's headlines, the Beirut explosion affected deliveries to Lebanon and shipping lines in the Mediterranean region. In other news, Kodak's federal supply chain contract for developing certain drugs within the U.S. was put on hold after concerns about insider trading were raised. Also, logistics companies may begin using preemptive logistics using AI to speed up the supply chain — by predicting demand before a PO is issued. Afternoon Coffee brings you the latest in procurement and supply chain news.

Afternoon Coffee: Concerns over U.S. reliance on overseas drug manufacturing; EU investigating Google’s bid for Fitbit; hackathon to address supply chain amid COVID-19

In today's headlines, the Wall Street Journal focuses on concerns about the U.S. reliance on China and other countries for drug manufacturing. The Trump administration also issued an executive order to enhance U.S. pharmaceutical manufacturing. In other news, the European Union opened an investigation of Google’s plan to buy Fitbit. Finally, the information standards organization GS1 US is planning a virtual hackathon to test supply chain resiliency in light of COVID-19. Afternoon Coffee brings you the latest in procurement and supply chain news.

Afternoon Coffee: U.S. services sector improves again; Canada stresses support for global supply chains during COVID-19; Virgin Galactic and Rolls-Royce partner on space tourism

Amid the coronavirus disruption, economic news from ISM shows that the services sector has grown again. In other news, a Canadian official discusses the need to support global supply chains during COVID-19 with his U.S. and British counterparts. Also, supersonic travel became closer with a Virgin Galactic and Rolls-Royce partnership to develop a new aircraft. Afternoon Coffee brings you the latest in procurement and supply chain news.