This week’s SolutionMap Customer Insights report focuses on customer reviews for the suite provider Determine, a Corcentric company.
The applicable SolutionMap categories for this report are Source-to-Pay, Procure-to-Pay, and Strategic Procurement Technologies (SPT includes Sourcing, Analytics, CLM and SRM). Determine has been bought by Corcentric. Integrations between the two provider platforms are not factored into the Customer Insights analysis, which is entirely based on Determine’s capabilities.
SolutionMap Insider members can read about Determine in our latest report.
In each Customer Insights report, we provide a one-page summary of details from the SolutionMap peer review process. It includes ratings on how well the vendor meets its customers' expectations, three key differentiators for the vendor and a list of quotes from customers about the vendor’s greatest strengths.
Procure-to-pay (P2P) solutions do not just have to take the form of “vanilla” cloud/SaaS applications. Increasingly, organizations are becoming aware of the power of B2B marketplace models and platform-as-a-service (PaaS) models, which can enable greater flexibility to configure P2P capabilities for a combination of internal and third-party users — and in certain cases, to leverage the buying, distribution, payment / financing (in the case of banks), and supply chain assets of the marketplace sponsor to create entirely new business models through the use of technology.
In many ways, this is the realization of the vision of the original B2B marketplaces from two decades ago (e.g., Commerce One MarketSite, i2 TradeMatrix, Ariba/Tradex, Atlas Commerce, etc.), but with technology that can support the complex requirements involved in many-to-many and multi-tier collaboration models, as well as integration approaches that go beyond standard API calls.
This is B2B nirvana for procurement and supply chain geeks like us who have lived through multiple cycles of marketplace enthusiasm (madness?). The fact that a number of vendors exist today that can service these models effectively is testament to just how far technology has come in recent years. This includes not only the usual P2P best-of-breed subjects supporting these models (e.g., Basware, Coupa, Ivalua, SAP, Tradeshift, etc.) but also names you might not be familiar with as well.
This Spend Matters PRO brief provides an introduction to the types of platform and functional capabilities necessary for organizations considering building a marketplace model or leveraging an existing PaaS application ecosystem to go outside the box of standard P2P process models and operating models for internal use only.
Leveraging Spend Matters’ experience in managing the technology selection processes for marketplace initiatives and our SolutionMap vendor RFI requirements, our analysis introduces a range of platform and application requirements that companies should consider when evaluating solutions that can power the requirements of marketplace models for B2B relationships beyond the standard requirements expected of P2P solutions.
These include core platform components, data schema, data management, workflow, personalization, supplier portal, supplier information management, analytics, globalization and related requirements.
This week’s SolutionMap Customer Insights report focuses on customer reviews for GEP, a suite provider of procurement technology. The applicable SolutionMap categories for this report are Source-to-Pay, Procure-to-Pay, and Strategic Procurement Technologies (SPT includes sourcing, analytics, CLM and SRM). SolutionMap Insider members can read about GEP in our latest report. In each Customer Insights report, we provide a one-page summary of details from the SolutionMap peer review process. It includes ratings on how well the vendor meets its customers' expectations, three key differentiators for the vendor and a list of quotes from customers about the vendor’s greatest strengths.
In our last Spend Matters PRO brief, we introduced you to Negotiatus, an upstart P2P provider out of New York City that’s offering a fresh take on how to solve the root causes of common purchasing headaches. Taking the view that procurement should route users and payments through one (consolidated) invoice approach, Negotiatus aims to help its customers drastically reduce the number of transactions they need to process. In this view, purchasing automation represents a symptom of dysfunction rather than a panacea to inefficient business processes, and many of Negotiatus’ strengths thus reflect its guiding philosophy of simplicity and elimination of unnecessary work.
This approach, complemented by its supporting technology and rapidly growing client base, was a central reason we named Negotiatus to this year’s inaugural Future 5 list, which highlights standout start-up companies in procurement technology.
But such a philosophy may not be a fit for every procurement organization, and by its own admission, Negotiatus is often a better fit with younger, more “forward-thinking” procurement organizations than corporate stalwarts. Its functionality lags accordingly when compared with peers that strive to “check the box” on requirements expected by a more classically minded procurement group.
Part 1 of this brief provided some background on Negotiatus and an overview of its offering — from ordering/shopping and catalogs to invoicing and payment.
In Part 2, we will provide a breakdown of what is comparatively good (and not so good) about the solution, a high-level SWOT analysis and a short selection requirements checklist that outlines the typical company for which Negotiatus might be a good fit. We also give some final conclusions and takeaways.
The market for standalone e-procurement and P2P solutions appears to be entering a new act. After a wave of consolidation soaked up multiple best-of-breed providers (e.g., Verian, Puridiom, Aquiire), suite solutions took control, leaving only a handful of standalone alternatives. But now a new class of purchasing solutions is entering the market, each looking to disrupt the standard approaches to corporate procurement in their own way.
Some focus heavily on updating user experience and driving fast time-to-value. Others position their tools as a means to tackle specific problems (e.g., tail spend) or vertical-specific requirements. But generally the approach relies on a common theme: To win in the P2P market, new solutions need to do something different. Rather than accept the status quo of how procurement is done, many of these companies hope to offer a fresh take, whether that’s through how the technology is designed or how the business model can enable new approaches to purchasing.
This mindset applies to Negotiatus, the subject of this Spend Matters’ PRO Vendor Introduction. Based in New York City, Negotiatus is technically a P2P solution — that is, it supports ordering/shopping, catalogs, invoicing and payment, so in effect the whole P2P cycle — but it does not take a “check the box” approach to feature/function development. Instead, the founders decided to assess the root causes of common P2P problems and develop a solution that could eliminate them, rather than simply alleviate them. This approach works for some organizations better than others, but for clients such as Soul Cycle, Zeus Living and Cozen O’Connor, it’s a radical idea that can cut user ordering by as much as 75% and generate 8% median savings, according to Negotiatus.
This Vendor Introduction offers a candid take on Negotiatus and its capabilities. The first part of this series includes a company introduction and an overview of Negotiatus’ offering. The second part of this brief provides a breakdown of what is comparatively good (and not so good) about the solution, a high-level SWOT analysis, and some market implications and takeaways.
Earlier this week, you may have seen that Tipalti raised $76 million in a Series D funding round. For those who do not know Tipalti, it is one of a variety of accounts payable automation (and payment providers) in the B2B market.
With a primary emphasis on middle market companies, Tipalti’s AP automation competitors include both broader procure-to-pay vendors that also come down market (e.g., Basware, Corcentric, Coupa, SAP Ariba, Tradeshift, etc.) and a diverse set of accounts payable automation specialists, including Accrualify, AvidXChange, Beanworks, SAP Concur, Symbeo, MineralTree, MediusFlow, Yooz and dozens of others.
It’s our view that Tipalti’s funding round is proof positive that the AP automation market is truly hot.
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.
The Spend Matters SolutionMap Procure-to-Pay (P2P): Provider Scoring Summary is only available to SolutionMap Members. This SolutionMap analyzes a select group of procure-to-pay solution providers. It is part of our Q3 2019 SolutionMap report series, also featuring spend analytics, sourcing, supplier management, contract management, e-procurement and invoice-to-pay providers.
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 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).
As we highlighted in Part 1 of this seven-part Spend Matters PRO series, GEP is a diverse company that is a provider of source-to-pay solutions, BPO services and consulting. In Part 2, we discussed how SMART by GEP is a unified S2P solution platform built from the ground up as a cloud-based solution, with full integration capabilities into back-end systems, built and hosted on the Microsoft Azure infrastructure. From both platform-as-a-service (PaaS) and hosting perspectives, this brings the same advantages of Amazon Web Services virtualization (e.g., ability to rapidly “scale up” and “scale down” at any layer in the architecture). But further, the entire GEP platform is Microsoft native, which theoretically means tighter integration into the Microsoft ecosystem of products (e.g., SharePoint, Office, etc.) than competing products. The Azure platform and hosting model provides another layer of scalability insurance for GEP customers.
In Part 3, we’ll look at the midstream and downstream functional S2P capabilities — contract management, supplier management, procure to pay (P2P) — that GEP offers within SMART by GEP. We also take a critical look at GEP’s emphasis on user experience.
SMART by GEP is a unified source-to-pay solution platform and, as GEP is quick to point out, it doesn’t sell “single modules as widgets” on a price list. SMART by GEP can, of course, provide its customers with modular functionality. (See Part 1 of this seven-part Spend Matters PRO series for a company overview of the S2P provider, which also has BPO services and consulting.) However, GEP claims that the majority of its new platform customers will continue to embrace full suite adoption from the get-go, versus a minority that will desire a point-based solution at the start.
SMART by GEP is a cloud-based solution, with full integration capabilities into back-end systems, built and hosted on the Microsoft Azure infrastructure. From both platform-as-a-service (PaaS) and hosting perspectives, this brings the same advantages of Amazon Web Services virtualization (e.g., ability to rapidly “scale up” and “scale down” at any layer in the architecture).
But further, the entire GEP platform is Microsoft native, which theoretically means tighter integration into the Microsoft ecosystem of products (e.g., SharePoint, Office, etc.) than competing products. The Azure platform and hosting model provides another layer of scalability insurance for GEP customers.
In Part 2 of this series, we will cover key upstream functional S2P capabilities — spend analysis, category management, sourcing — that GEP offers within the unified SMART by GEP platform:
