As part of the Q2 2019 SolutionMap release, the Strategic Procurement Technologies (SPT), Source-to-Pay (S2P) suites, and Contingent Workforce & Services (CW/S) Technology Provider Scoring Summary reports are available today on SolutionMap Insider.
This Q2 2019 SolutionMap analyzes a select group of strategic procurement technology suite providers (inclusive of spend analytics, sourcing, supplier management and contract lifecycle management).
As part of the Q2 2019 SolutionMap release, the Sourcing, Spend & Procurement Analytics, Supplier Relationship Management (SRM) & Risk and Contract Lifecycle Management (CLM) Provider Scoring Summary reports are available today on SolutionMap Insider.
This week’s SolutionMap Customer Insights report focuses on customer reviews for SpendHQ, a specialist in analyzing spend data that uses cloud-based software to organize and remove unnecessary data and provide spend visibility. Its applicable SolutionMap category for this report is in Spend Analytics.
SolutionMap Insider members can click here to read about SpendHQ in our latest report.
This SolutionMap analyzes a select group of spend analytics providers. It includes coverage of spend analytics capabilities that encourages subscribers to “peel the onion” beyond cleansing, classification, enrichment and reporting capabilities alone. It is part of our Q2 2019 SolutionMap report series, also featuring sourcing, supplier management contract management, e-procurement and invoice-to-pay providers.
Spend Matters today released its Q2 2019 SolutionMap, ranking 54 procurement software companies across 12 solution categories, including E-Procurement, Sourcing, Spend Analytics, Supplier Relationship Management, Contract Lifecycle Management and Contingent Workforce & Services. Click on this article to learn about SolutionMap's biggest revamp yet, and to see how to access rankings for free!
Additionally, the following providers have updated their RFIs and received updated scoring following the submission and demonstration of new and updated capabilities based on production releases of their platform. (Non-GA capabilities are not considered in SolutionMap scoring.)
In Source-to-Pay:In addition, 95 new or refreshed customer references (and 175 individual map references) were added in the Strategic Procurement Technology areas for Q2 2019.
The following providers did not update their scoring and, as a result, had their scores adjusted based on a common shift factor (that preserves positional integrity relative to peers) and any platform updates, or lack thereof, that the analysts have received since the last time the RFIs were filled out. Nearly all the providers requested a short-term delay because of the intensive nature of the expanded RFI (with nearly 800 requirements for Source-to-Pay), but we expect most of them to participate in upcoming 2019 Q3 or Q4 releases.
In Source-to-Pay:This SolutionMap Insider research note provides insight into the nature of the expanded RFI, methodology and additional changes in the Q2 2019 SolutionMap release.
This Spend Matters SolutionMap Insider release note provides insight into the Q2 2019 SolutionMap release for Source-to-Pay, reviewing the process that we followed for this quarter’s release.
The providers in the Q2 2019 Source-to-Pay SolutionMap include Coupa, Determine, GEP, Ivalua and SynerTrade. All of these providers were required to participate in SolutionMap for each underlying module, as well. These individual areas include Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management, E-Procurement and Invoice-to-Pay. All of these providers are also included in the individual Strategic Procurement Technologies (SPT) and Procure-to-Pay (P2P) suite views.
The five providers above have updated their RFIs and received updated scoring following the submission and demonstration of new and updated capabilities based on production releases of their platform. (Non-GA capabilities are not considered in SolutionMap scoring.)
SAP Ariba and Zycus did not update their scoring and, as a result, had their scores adjusted based on a common shift factor (that preserves positional integrity relative to peers) and any platform updates, or lack thereof, that the analysts have received since the last time the RFIs were filled out. These providers requested a short-term delay because of the intensive nature of the expanded RFI (with nearly 800 requirements for Source-to-Pay), but we expect them to participate in upcoming 2019 releases.
The Source-to-Pay customer data set is composed of a subset of the 792 individual organization references included in the overall SolutionMap scoring as of Q2 2019*.
This SolutionMap Insider research note provides insight into the nature of the expanded RFI, methodology, customer references and additional changes in the Q2 2019 SolutionMap release.
*Customers using more than one module that a vendor provides can opt to fill out a single survey within each individual suite area (e.g., a customer using two modules for P2P and four modules for SPT would need to fill out only two surveys).
Procurement leaders want their purchasing decisions to be driven by lessons and insights gained from their organization’s order history data. Gone are the days where the post-purchase data was used only for accounting and reconciliation purposes.
With thousands of employees buying on Amazon Business, procurement organizations realize that they can do more with this data. However, to tell a story from their procurement data, organizations will need to invest in business intelligence (BI) engineers, data scientists and dedicated teams of IT personnel. Machine learning (ML) continues to be just a buzzword for these professionals, as they do not yet see the benefits of ML in their everyday decision-making.
The Amazon Business Analytics portal provides the tabular order history data by various pivots, including orders, refunds and reconciliation reports. While this acts as a good mechanism to look up specific details about an order, customers told us that they spend multiple hours each month to understand the data and gain insights into the spend patterns of their organization. Customers heavily relied on the CSV download feature to continue to their analysis. They essentially needed to gain BI from their data.
To help solve this problem, we partnered with Amazon QuickSight to bring BI to organizations’ Amazon Business order data.
Each year, some companies on the Spend Matters 50 Providers to Know and 50 Providers to Watch lists push themselves beyond simply a standout performance. They earn the recognition that they are not only bringing innovation into procurement organizations but also leading the charge to change the way we do business for the better. These are the providers who shifted from Watch to Know in 2019.
To learn more about these providers, we reached out to a few such cases in our 2019 50/50 lists, asking how they’ve changed over the years and what differentiates them from the competition. Today’s Q&A features Danny Thompson, SVP, Market & Product Strategy at APEX Analytix.
During the decade since the global financial crisis, the financial services industry has experienced major technological disruption, experts say. However, a new report states that 52% of financial leaders say their leadership teams do not appreciate the possible results of continued technology disruption. According to research released by the advisory and support services specialist Vuealta, “The Future of Financial Services: Planning for Every Eventuality,” the financial services industry may face an array of challenges and disruptors during the next five years.
This SolutionMap analyzes a select group of spend analytics providers. It includes coverage of spend analytics capabilities that encourages subscribers to “peel the onion” beyond cleansing, classification, enrichment and reporting capabilities alone. It is part of our Q1 2019 SolutionMap report series, also featuring sourcing, supplier management contract management, e-procurement and invoice-to-pay providers.