Agiloft, a contract lifecycle management (CLM) specialist and one of Spend Matters’ 50 Providers to Watch in 2019, recently hosted their inaugural Summit 2019, at which several speakers — including Spend Matters’ own chief research officer Pierre Mitchell — discussed emerging industry trends. Watch Pierre's video, then catch up on previous coverage of the provider — both one of the highest-performing contract management software vendors based on demonstrated technology capability in Spend Matters’ CLM SolutionMap and a customer favorite for multiple buying personas.
I wanted to continue my SIG post from the other day that looked at lease spend and why it’s gaining importance. In recent years, lease spending has come under the microscope because accounting rules now require publicly held companies to disclose their lease spend on their balance sheets. Private companies and government agencies will have to do the same eventually.
The foundational piece of effective leasing spend management is assembling all that data to enable the proper accounting treatment for leases. This also paves the foundation for better visibility and control of leasing spend as well (to learn more about the basics, a recent Spend Matters’ article looked at why lease spend is poorly managed).
But visibility is different from impact. Once procurement has helped finance properly account for new financial reporting requirements, there’s an opportunity to drive lease savings as well.
So let’s look at where the value and savings can come from.
The needs of each procurement organization — as well as procurement-solution providers’ organizations — are too nuanced for “one size fits all”-style rankings and recommendations from other industry intelligence firms and experts. That’s why Spend Matters ranks procurement and supply chain software providers through the prism of buying personas. With the Q3 2019 SolutionMap released today, let's revisit why this is an essential approach to the procurement technology market.
This Q3 2019 SolutionMap analyzes a select group of strategic procurement technology suite providers (inclusive of spend analytics, sourcing, supplier management and contract lifecycle management).
Spend Matters today released its Q3 2019 SolutionMap, ranking 56 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 see which new providers joined the rankings, and to see how to access rankings for free!
This Spend Matters SolutionMap Insider research note provides insight into the Q3 2019 SolutionMap release for Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management, and Strategic Procurement Technologies Suite SolutionMap areas, reviewing the process we follow and highlighting what has changed since the last release.
Within the individual areas covered in this brief, the following providers have been added to the Q3 2019 release:
— K2 Sourcing is a new participant in the Sourcing SolutionMap category. — Orpheus is a new participant in the Spend & Procurement Analytics SolutionMap category.
Wax Digital has added a new category to its existing participation this quarter: Supplier Relationship Management and Risk.
In addition, 38 new or refreshed customer references (and 76 individual map references) were added in the Strategic Procurement Technology areas for Q3 2019.
The following providers still did not update their scoring based on the new Q2 2019 RFI 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. We expect most of them to participate in upcoming Q4 2019 or Q1 2020 releases.
In Source-to-Pay: — SAP Ariba, Jaggaer (Indirect, Advantage, and Direct)*
In stand-alone Sourcing: — Keelvar and Scout RFP
In stand-alone Spend and Procurement Analytics: — Opera BIQ
In stand-alone Supplier Relationship Management and Risk: — Aravo and Sourcemap
* As Jaggaer has unified three of its product lines — Jaggaer Indirect, Jaggaer Direct and Jaggaer Advantage — into Jaggaer One, which allows customers and prospects to select the best modules from each offering to fit an organization’s unique needs, Spend Matters has broken out the naming convention for the Jaggaer offerings more specifically for Q3 2019 SolutionMap in the persona ranking graphics as follows:
— Jaggaer One is Jaggaer Sourcing, Jaggaer Supplier Management, Jaggaer Spend Analytics, Jaggaer Contracts+, and Jaggaer eProcurement, and corresponds to what was formerly Jaggaer Indirect. — Jaggaer One+ is Jaggaer Sourcing+, Jaggaer Supplier Management+, Jaggaer Analytics+, and Jaggaer Contracts, and corresponds to what was formerly Jaggaer Advantage. — Jaggaer One Direct is Jaggaer Direct Sourcing and Jaggaer Direct Supplier Management and corresponds to what was formerly Jaggaer Direct.
Please note: as none of the Jaggaer solutions have yet been evaluated against Q2 2019 RFI requirements by the Spend Matters analyst team, they are not able to appear in this quarter’s editions of the Provider Scoring Summaries. Please refer to the Q1 editions for their latest scoring.
This SolutionMap Insider research note provides insight into the methodology and additional changes in the Q3 2019 SolutionMap release.
(SolutionMap Insider members: access the Q3 Provider Scoring Summary reports right here.)
This Spend Matters SolutionMap Insider release note provides insight into the Q3 2019 SolutionMap release for Source-to-Pay, reviewing the process that we followed for this quarter’s release.
The providers in the Q3 2019 Source-to-Pay SolutionMap include Coupa, Determine, GEP, Ivalua, SynerTrade and Zycus. 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.
SAP Ariba 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. We expect them to participate in upcoming releases.
The Source-to-Pay customer data set is composed of a subset of the 831 individual organization references included in the overall SolutionMap scoring as of Q3 2019*.
This SolutionMap Insider research note provides insight into the nature of the expanded RFI, methodology, customer references and additional changes in the Q3 2019 SolutionMap release.
(SolutionMap Insider members: access the Q3 Provider Scoring Summary reports right here.)
*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).
The Spend Matters SolutionMap Contract Lifecycle Management (CLM): Provider Scoring Summary is only available to SolutionMap Members. This SolutionMap analyzes a select group of Contract Lifecycle Management (CLM) providers. It is part of our Q3 2019 SolutionMap report series, also featuring spend analytics, sourcing, supplier management (including supplier information management, performance management and risk management), e-procurement and invoice-to-pay providers.
Do you ever feel like you’ve been winning the battles but still losing the war? In the art of war, military strategists are required to look beyond short-term skirmishes, where little if any ground is gained, and instead focus on a vision for victory in the longer term. That doesn’t mean suddenly pulling your forces from the front or ignoring enemy advances but has more to do with creating a better line of sight between the guys in the trenches and the generals in the tents.
Joonas Jantunen, Cloudia’s CEO for the Middle East, sees a similar distinction to be made in today’s business procurement wars. Every large procurement function aspires to be strategic, but most are running their operations on short-term tactics.
Strategic sourcing, in contrast, sets out to align all sourcing practices with an organization’s long-term business objectives, with a view to creating new and sustainable value.
This week’s SolutionMap Customer Insights report focuses on customer reviews for Exari, a provider of contract lifecycle management (CLM) solutions that was acquired by Coupa this year. The applicable SolutionMap category for this report is in CLM.
SolutionMap Insider members can read about Exari in our latest report. The customer feedback was given before the acquisition was announced in April. In each Customer Insights report, we provide a one-page summary from the SolutionMap peer review process. The summary includes ratings on how well the vendor meets user expectations, three key differentiators for the vendor and a list of quotes about the vendor’s greatest strengths.
This week’s SolutionMap Customer Insights report focuses on customer reviews for Icertis, a top provider of cloud-based, enterprise contract lifecycle management (CLM) software. The applicable SolutionMap category for this report is in CLM.
SolutionMap Insider members can read about Icertis in our latest report. In each Customer Insights report, we provide a one-page summary of information gleaned from the SolutionMap peer review process. The summary includes ratings on how well the vendor meets user expectations, three key differentiators for the vendor and a list of quotes about the vendor’s greatest strengths.
Cost-savings and strategic advantages hide in every business, and the latest procurement technology can reveal how to find it — in your contracts. In our recent article about spend management, we focused on the flood of spend data that businesses face and the technology that can help make sense of that.
But that technology, like artificial intelligence, is also being used to connect contract data and accounts payable information. That connection offers insights into novel ways to think about contracts that can add profits to the bottom line.
Contracts represent a direct link to suppliers, and that can offer profitable information about supplier activity that can help with contract renewals, a common way to control spend and find savings. But with AI, it gives your business the advantage and reduces risk.
