Services and Indirect Spend Content

Ivalua: Vendor Snapshot (Part 2) — Upstream Solution Overview [PRO]

gig economy

In Part 1 of Spend Matters' seven-part PRO series, we provided an updated background on Ivalua, which has been growing steadily since our last Vendor Snapshot in 2016, adding clients, offices, employees, customers and capability around the globe. No longer the Rodney Dangerfield of procurement, Ivalua is finally getting some real respect, having just reached unicorn valuation status in its last funding round.

There are a number of reasons for this, some of which revolve around services and global support capability, and others that revolve around its extensive solution platform. The latter is the subject of our articles today and tomorrow, where we will overview all of the major components, starting with the upstream ones today. Then, after we review the downstream components in Part 3, we will dive into Ivalua's particular strengths and weaknesses from a solution perspective in Parts 4 and 5.

Afternoon Coffee: Procurement Leaders acquired; Hot developments in Contingent Workforce & Services space

Procurement Leaders CEO Nandini Basuthakur announced on Wednesday via LinkedIn that the organization had been acquired by executive networking firm World 50. Fiverr's launch of Studios, enabling workers to organize "agency-like teams," and other Contingent Workforce & Services news made the CW/S Hot List, released today on Spend Matters. And cheaper prescription drug imports may be on the horizon for the U.S. Afternoon Coffee: importing your procurement and supply chain news.

The Contingent Workforce and Services (CW/S) Insider’s Hot List: August 2019 [Plus+]

Welcome to the August 2019 edition of Spend Matters Insider’s Hot List, a monthly look at the contingent workforce and services (CW/S) space that’s available to our PLUS and PRO subscribers. This edition looks at the new Beeline-Avature partnership; another look at the size and scope of the gig economy; developments in freelancer banks with news from Shine and Revolut; and more ...

Procuring outcomes, without limits: 3 takeaways from Upwork’s 2019 Work Without Limits summit

Much like in other spend areas, the contingent workforce and services (CW/S) mega category is being shaped by disruptive forces from multiple angles. The oft-cited talent gap is a major motivator, as businesses look in vain for missing skills — everywhere from IT to operations and even more creative fields like marketing. But also influential are broader economic trends, including the rising importance of business partnering to tap collaborative innovation and the digital transformation of just about every major industry.

The result is a gradual but quickening shift in the CW/S world away from finding placeholders for siloed FTEs toward a workforce and talent strategy focused on outcomes — whether that be training a new set of algorithms for a key software platform, translation and localization for a business’ flagship product, or a set of social media-optimized advertising to bring a major brand in front of a different audience.

This shifting mindset was on prominent display last week at Upwork’s third annual Work Without Limits Executive Summit, held for the first time in Chicago. Here are three takeaways from the event.

Vndly’s customer reviews are in the new SolutionMap Customer Insights report

This week’s SolutionMap Customer Insights report focuses on customer reviews for Vndly, which provides a cloud-based work management system (i.e., a new VMS) for hiring and using contingent workers. The applicable SolutionMap categories for this report is in Temp Staffing. SolutionMap Insider members can click on this article to read about Vndly in our latest report.

In each Customer Insights report, we provide a one-page summary of data from the SolutionMap peer review process. The Customer Insights summary includes ratings on how well the vendor meets user expectations, three key differentiators for the vendor and a list of customer quotes about the vendor’s greatest strengths.

$8.1 billion Saudi arms sale still on; Aon, Bunker link up; Consumer goods companies wasting money on digital?

A survey by AlixPartners shows that over half of the consumer goods companies surveyed were simply "throwing money" at chasing hot digital sales growth. Aon and Bunker announced a partnership to address the compliance management needs of Aon’s growing base of “digital economy” clients. And the U.S. Senate voted unsuccessfully to override President Trump’s vetoes of resolutions meant to block his administration from bypassing Congress to sell weapons worth $8.1 billion to Saudi Arabia and the United Arab Emirates. Afternoon Coffee: your procurement and supply chain news.

Fiverr launches ‘Studios’ to let freelancers form teams and deliver services like an agency

talent management

Fiverr, the online marketplace for creative/digital services, on Tuesday announced its latest product, Studios, which allows freelance workers to self-organize a project to offer an “agency-like team.” Fiverr, which successfully went public in June, and developments like this have been covered extensively by Spend Matters. Upwork just last week launched an “agency experience,” and a couple of years ago, Stanford University created “flash teams” to gather experts to work on projects.

Read more about the capabilities of Studios — and the future of work.

Aon partners with Bunker to enable digital economy companies to manage contractor business insurance

Aon — a leading global professional services firm providing a broad range of risk, retirement, and health solutions — and Bunker, a self-described “instant business insurance and compliance platform for independent workers and enterprises,” announced a partnership to address the compliance management needs of Aon’s growing base of “digital economy” clients. Spend Matters has been following Bunker since its inception in 2017.

According to the announcement, “the partnership provides Aon and their clients access to Bunker’s compliance platform and Live Certificate of Insurance, ensuring an organization’s contractors, independent workers and vendors are compliant with insurance standards in real-time.” Aon clients’ contractors can optionally purchase one of Bunker’s innovative independent worker insurance products.

The following article looks at this unique partnership, based on our own prior research and on conversations with individuals at Aon and Bunker.

ProcureCon Contingent Staffing Conference: An Analyst’s Takeaways

Spend Matters attended the ProcureCon Contingent Staffing Conference this week in a very peaceful Minneapolis. The two days were fully packed with presentations, panel discussions, roundtables, conversations with contingent workforce practitioners and solution providers. The conference scale was small enough to support substantial networking and conversations, but still a very robust conference. Based on the published attendee list, there were just shy of 100 buy-side practitioners in attendance from roughly 80 companies (most Fortune 1000 companies and/or well-known brands from a range of industry verticals).

In this article, I’m going to articulate my own key takeaways from the presentations and panels that I found informative and valuable. Once caveat: My analyst orientation/focus is around technology and innovation — and I’m also a bit of a “datavore,” so there’s some subjective filtering going on here. But hopefully my selective treatment will bring into focus some key areas of change that are in play for contingent workforce procurement practitioners at this time.

DCR Workforce (now Coupa) customer reviews are in the new SolutionMap Customer Insights report

This week’s SolutionMap Customer Insights report focuses on customer reviews for DCR Workforce, a provider of services and contingent workforce solutions that was acquired by Coupa last year. The applicable SolutionMap categories for this report are Contract Services/Statement of Work (SOW) and Temp Staffing. Coupa bought DCR Workforce in September 2018, so this report reflects customer feedback of DCR Workforce before the acquisition. As of the Q2 2019 SolutionMap release, all Coupa users can access all contingent workforce capabilities as Coupa proceeds with the full unification of those capabilities into Coupa's core business spend management (BSM) platform. Spend Matters will evaluate Coupa’s solution in the future.

SAP Intelligent Spend Group analysis: 10 observations of the new Ariba-Fieldglass-Concur business unit [PRO]

Last week, SAP released its financial results for the second quarter 2019. In the announcement, presentation and earnings call, SAP broke out revenue for its new Intelligent Spend Group (in previous quarters, it broke out revenue for the similar “Business Network” segment). This business unit consists of SAP Ariba, SAP Fieldglass and SAP Concur. According to SAP, quarterly performance for the group represented approximately $880 million (USD) in revenue based on actual reporting in euros of €786 million. At constant currency levels, revenue was up 17% year-over-year, or 22% factoring in currency changes.

This Spend Matters PRO brief begins by highlighting some of the additional detail provided on the earnings call and then provides 10 observations on the current state of the business unit based on customer, channel and other checks conducted by the Spend Matters analyst team. Spend Matters PRO subscribers also have access to previous coverage of SAP Intelligent Spend Group. Recent briefs include:

* SAP Intelligent Spend Group is future for Ariba, Fieldglass, Concur (Part 1): Customer Analysis, Solution Integration, Roadmap [PRO]
* SAP Intelligent Spend Group is future for Ariba, Fieldglass, Concur (Part 2): Hard Questions on Integration [PRO]
* SAP Intelligent Spend Group is future for Ariba, Fieldglass, Concur (Part 3): How can the SAP spend platform ‘Run Simple’? [PRO]
* With Barry Padgett leaving SAP, what’s next for new Intelligent Spend Group? [PRO]

Upwork announces new ‘agency experience’ at its Work Without Limits summit

Upwork, the global freelancer marketplace and enterprise solution for sourcing and engaging online freelancers and small-scale service providers (SSPs), announced key enhancements to what it calls its “agency experience.” The announcement, made at the company’s third annual Work Without Limits Executive Summit, describes the new agency capabilities as addressing “the fragmented agency landscape as more companies move away from agency-of-record relationships.”