Solution Providers Content

Tradeshift: Vendor Snapshot Update (Part 3) — Summary and Competitive Analysis [PRO]

Tradeshift embarked on building both an applications and platform technology business at the same time. Flash forward less than a decade since the provider launched, Tradeshift has remained true to this vision. But how does the provider stack up to others in the market given it can be difficult to compare it with traditional cloud applications providers without the platform element? And how should prospective customers know when to consider Tradeshift vs. others?

Part 3 of Spend Matters’ Vendor Snapshot Update series explores these questions and others. This PRO report provides facts and expert analysis to help procurement organizations make informed decisions about Tradeshift’s solutions and products. Part 1 of our analysis provided a company background and detailed solution overview, as well as a summary recommended fit suggestion for when organizations should consider Tradeshift in the procurement, supply chain and finance technology areas. Part 2 covered product strengths and weaknesses, and this final installment offers a competitor and SWOT analysis, along with evaluation and selection considerations.

Customer reviews for Vroozi are in the new SolutionMap Customer Insights report

This week’s SolutionMap Customer Insights report focuses on customer reviews for Vroozi, a provider of spend management, marketplace and invoicing automation solutions. The applicable SolutionMap category for this report is in E-Procurement, Invoice-to-Pay and Procure-to-Pay. SolutionMap Insider members can read about Vroozi 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.

SolutionMap: 59 procurement software companies ranked (Q4 2019 Update)

Spend Matters today released its Q4 2019 SolutionMap, ranking 59 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 this quarter — and to see how to access the rankings for free!

Q4 2019 SolutionMap Release Notes: Sourcing, Spend & Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management and Strategic Procurement Technology Suites

This Spend Matters SolutionMap Insider research note provides insight into the Q4 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 Q4 2019 release:

— Promena is a new participant in the Sourcing SolutionMap category.
— Spendata is a new participant in the Spend & Procurement Analytics SolutionMap category.
— Vendorful is a new participant in the Sourcing and Supplier Relationship Management (SRM) & Risk SolutionMap categories.

Wax Digital has added a new category to its existing participation this quarter: Contract Lifecycle Management (CLM).

In addition, 31 new or refreshed customer references (and 51 individual map references) were added in the Strategic Procurement Technology areas for Q4 2019.

*Get a first look at the Q4 SolutionMap comparative quadrant graphics here.

The Q4 2019 SolutionMap marks the first time Jaggaer solutions have been evaluated against Q2 2019 RFI requirements by the Spend Matters analyst team, and are able to again appear in this quarter’s editions of the Provider Scoring Summaries.

(SolutionMap Insider members: access the Q4 Provider Scoring Summary reports right here.)

Q4 2019 SolutionMap Release Notes: E-Procurement, Invoice-to-Pay and Procure-to-Pay

This Spend Matters SolutionMap Insider Release Note provides insight into the Q4 2019 SolutionMap release for E-Procurement, Invoice-to-Pay (I2P) and Procure-to-Pay (P2P), reviewing the process that we follow and highlighting what has changed since the last release.

The E-Procurement, I2P and P2P customer reference set added 20 new individual customer references in Q4. There were no new providers added for Q4, although Jaggaer One (formerly Jaggaer Indirect) has successfully been scored against the new Q2 2019 RFI requirements for the first time.

*Get a first look at the Q4 SolutionMap comparative quadrant graphics here.

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 Q4 2019 SolutionMap in the persona ranking graphics. This means that in the E-Procurement and Invoice-to-Pay category this quarter, the solution/product formerly known as Jaggaer Indirect is now listed as: Jaggaer eProcurement and Jaggaer Invoice-to-Pay.

Due to Jaggaer’s participation in both E-Procurement and Invoice-to-Pay, the provider also appears in the Procure-to-Pay Suite view, as Jaggaer Procure-to-Pay.

The Q4 2019 SolutionMap marks the first time Jaggaer solutions have been evaluated against Q2 2019 RFI requirements by the Spend Matters analyst team, and are able to again appear in this quarter’s editions of the Provider Scoring Summaries.

This SolutionMap Insider research note provides insight into these and additional changes in the Q4 2019 SolutionMap release.

(Insider members: Access the Q4 Provider Scoring Summary reports right here.)

Q4 2019 SolutionMap Release Notes: Source-to-Pay Suites

This Spend Matters SolutionMap Insider release note provides insight into the Q4 2019 SolutionMap release for Source-to-Pay, reviewing the process that we followed for this quarter’s release.

The providers in the Q4 2019 Source-to-Pay SolutionMap include Coupa, Determine, GEP, Ivalua, Jaggaer One, 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.

*Get a first look at the Q4 SolutionMap comparative quadrant graphics here.

The Q4 2019 SolutionMap marks the first time Jaggaer One (formerly Jaggaer Indirect) is participating in the S2P Suite view, having participated in each underlying module.

SAP Ariba did not update their scoring and, as a result, saw 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 886 individual organization references included in the overall SolutionMap scoring as of Q4 2019*.

This SolutionMap Insider research note provides insight into the nature of the expanded RFI, methodology, customer references and additional changes in the Q4 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).

Q4 2019 SolutionMap Release Notes: Contingent Workforce & Services (CW/S) Enterprise Technology Solutions — Temp Staffing, Contract Services/Statement of Work (SOW), Direct Sourcing of Workforce/Services

Q4 2019 marks the sixth research cycle for Spend Matters’ Contingent Workforce & Services (CW/S) “enterprise technology” SolutionMap, the sourcing and management of three underlying spend categories: Temp Staffing, Contract Services/Statement of Work and Direct Sourcing of Workforce/Services (formerly Independent Contract Workers, or ICW).

Beginning in Q3 2019, Spend Matters changed the name of the Independent Contract Workers (ICW) category to Direct Sourcing of Workforce/Services, primarily to express the proper scope of the category’s coverage of those solution providers that enterprises use to source and manage both workers and small services firms in a relatively direct manner. (At the very least, a traditional supplier’s role is more limited and the technology solution enables more direct sourcing and talent management by an end-client.)

The full list of providers in the Q4 2019 CW/S SolutionMap includes:

— Beeline
— Coupa
— Elevated Resources
— Field Nation
— Shiftgig
— Shortlist
— SirionLabs
— TalentNet
— Talmix
— TalonFMS
— Upwork Enterprise
— VectorVMS
— Vndly
— WorkMarket (ADP)

As noted further below, a vendor may participate in a SolutionMap category but may not necessarily appear on the SolutionMap comparative quadrant graphics (get a first look here).

Given Spend Matters’ procurement orientation, we evaluate “enterprise technology” vendors within a source-to-pay (S2P) reference model. In other words, we look at vendors in terms of their capabilities that address some or all enterprise requirements that arise within an S2P lifecycle (i.e., from supplier sourcing to worker or supplier payment).

We have gathered extensive business profile information, have more than 100 active customer survey references and have assigned scores to specific solution capabilities (RFI line items) ranging from well over 100 to about 300, depending upon how many SolutionMap categories a particular vendor participated in.

Tradeshift: Vendor Snapshot Update (Part 2) — Product Strengths and Weaknesses [PRO]

FM Global Resilience Index

Besides the likes of “mega” players like Amazon Business, is there a market for marketplaces? When Tradeshift embarked on its journey to create a platform between organizations in 2010, it had to believe such a need would eventually become mainstream, otherwise its vision and reality would fail to intersect. Fortunately for those that backed Tradeshift’s initial hypothesis, less than a decade since launching, more companies — not just early adopters — are becoming aware of what a platform concept can deliver beyond business applications.

This Spend Matters PRO Vendor Snapshot Update adds to last year’s Tradeshift strengths and weaknesses, providing facts and expert analysis to help procurement and finance organizations decide whether they should consider the provider from both an applications and marketplace/platform perspective. Look for updates on global support, the AI-assistant Ada, analytics, channel/systems integration partner networks, and customer value.

Part 1 of our analysis provided a company and detailed solution overview centered on Tradeshift’s business applications, as well as a recommend fit list of criteria for firms considering the provider. The third part of this series will offer a SWOT analysis, user selection guide, competitive alternatives, and additional evaluation and selection considerations.

Why would Medius buy Wax Digital? (Part 4: Strategy and competitive landscape analysis for procurement and ERP vendors)

This Spend Matters Nexus research brief explores the potential competitive impact of the Medius and Wax Digital combination on the procurement and ERP vendor landscape. It also explores the strategies that some providers within these groups are already pursuing (or may pursue) in response to customer requirements, competitive pressures and the desire to expand the overall total addressable market for integrated procurement and finance solutions.

Procurement technology vendors and ERPs targeting procurement compete in a catch-all market segment that can make an area like CRM or human capital management (HCM) seem simple by comparison. From sourcing to contract management to supplier management (and all of its sub-disciplines) to e-procurement to analytics (and beyond) for all types of spend — indirect, direct, services, tail, etc. — the various components of procurement technology are as diverse as the specialist, suite and ERP vendors targeting the market.

Vendors covered in this analysis include Corcentric, Coupa, Infor, Jaggaer, Microsoft, Epicor, GEP, Ivalua, Netsuite (Oracle), Oracle, Proactis, Sage, Synertrade, SAP, Unit4 and Zycus.



If you are just coming up to speed on the Wax Digital-Medius combination, start here with this Nexus series — (Part 1: Company Backgrounds, Product Strengths/Weaknesses, Deal Rationale), (Part 2: Wax strengths, customers, integration considerations), and (Part 3: Strategy and competitive landscape analysis for AP automation and invoice-to-pay). Free Spend Matters’ news coverage of the deal can be found here and here.

Jason Busch serves as Managing Director of Spend Matters Nexus, a research and advisory group that works with sponsors, CEOs and boards on due diligence, M&A strategy and product strategy. Spend Matters and Spend Matters Nexus are owned by Azul Partners. Disclosure: Azul Partners served as an adviser to Marlin Equity in the Wax-Medius transaction.

Synertrade: What Makes It Great (Sourcing SolutionMap Analysis)

Direct materials sourcing is the elephant in the procurement technology suite room. While many source-to-pay solutions offer strong functionality in support of sourcing processes, only a handful truly support all of the requirements to enable the complexities of direct materials sourcing (e.g., sourcing optimization, bill of materials-based sourcing, commodity management).

Among this select group, Synertrade is capable of delivering a comprehensive, fully integrated and rapidly deployable source-to-pay suite that also provides organizations the ability to rapidly configure heavy internationalization and systems integration requirements. This is particularly visible in its sourcing module, where it scores above the benchmark for two-thirds of requirements evaluated, including dozens of cases where it posts some of the highest scores of any provider in the Sourcing SolutionMap.

But where does Synertrade stand out most and help “set the bar” in sourcing, and why should this matter for procurement and finance organizations? Let’s delve into the SolutionMap benchmark to find out where Synertrade is great.

“What Makes It Great” is a recurring column that shares insights from each quarterly SolutionMap report for SolutionMap Insider subscribers. Based on both our rigorous evaluation process and customer reference reviews, each brief offers quick facts on the provider, describes where it excels, provides hard data on where it beats the SolutionMap benchmark and concludes with a checklist for ideal customer scenarios in which procurement, finance and supply chain organizations should consider it.

An inside look: Premier Inc. acquires Medpricer, a purchased services procurement solution [PRO]

healthcare

Let’s take a closer look at the Premier Inc. acquisition of Medpricer announced recently. For this Spend Matters PRO brief, we talked with leaders of both firms to get further insight into the acquisition and what it means. We also offer some reasons why this development is significant for procurement practitioners. Premier Inc., a $1.2 billion diversified healthcare improvement company, has acquired Medpricer, an innovative solution provider focused on the management of the enormous and largely unmanaged “purchased services” category of spend within hospitals and healthcare systems.

Premier bought Medpricer for $35 million and expects the acquisition to be modestly accretive in 2020. The company has stated that Medpricer will continue to operate as an independent unit and brand, and will remain GPO neutral, while augmenting Premier’s own technology and analytics capabilities. Medpricer’s CEO will continue to lead the business as part of Premier’s Supply Chain Services segment.

Headquartered in Charlotte, North Carolina, Premier describes itself as “a leading healthcare improvement company, uniting an alliance of more than 4,000 U.S. hospitals and health systems and approximately 175,000 other providers and organizations to transform healthcare.” The company leverages integrated data and analytics, collaboratives, supply chain solutions, and consulting and other services to promote "better care and outcomes at a lower cost.” It also collaborates with members “to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide.”

“Medpricer’s spend management platform,” the company has noted, “uses artificial intelligence to validate, compare and onboard purchased services suppliers; track and measure spend by category, supplier and facility; benchmark contracts terms to ensure competitive rates; set and manage specific savings targets; and manage contract compliance.” It was also noted that purchased services — which “often fall outside the scope of national group purchasing contracts” — are estimated to “account for up to 30% of a typical healthcare provider’s non-labor expenses, and represent a total addressable acute care market of approximately $160 billion.”

Premier told Spend Matters that “Medpricer is an important component of its evolving cost management strategy and is an integral next step in our continuing expansion toward a fully integrated purchased services platform.” Premier also noted that it has the “ability to fund and materially accelerate the development of Medpricer’s offerings.”

Spend Matters recently posed some questions to Premier. We received written answers and also had an opportunity to talk with Premier’s Senior Vice President of Supply Chain, David Hargraves, and Medpricer’s President and CEO, Chris Gormley.

Why would Medius buy Wax Digital? (Part 3: Strategy and competitive landscape analysis for AP automation and invoice-to-pay)

This Spend Matters Nexus research brief explores the potential competitive impact of the Medius and Wax Digital combination on the AP automation and invoice-to-pay markets. It also explores the strategies that some providers within these groups are already pursuing (or may pursue) in response to customer requirements, competitive pressures and the desire to expand the overall total addressable market, or TAM, for the AP automation sector and related opportunities.

AP automation and invoice-to-pay vendors compete in a market that is growing and changing by the day. This market counts AP specialists such as Accrualify, AvidXChange, Beanworks, SAP Concur, Symbeo, MineralTree, Medius, Yooz and dozens of others, as well as broader procure-to-pay providers such as Basware, Corcentric, Coupa, Oracle, SAP Ariba and Tradeshift. I previously described this market as “hot, hot, hot.” And I stand by that hyperbole.

Some of these providers have chosen to focus on the core of AP workflow and invoice processing; others have coupled AP automation with adjacent areas (e.g., payments and/or financing); and still others are more dramatically attempting to expand the value proposition that links AP to broader finance (and even procurement) functions through expanded modules and capability, including to procurement.

If you are just coming up to speed on the Wax Digital-Medius combination, start here with this Nexus series — (Part 1: Company backgrounds, product strengths/weaknesses, deal rationale) and (Part 2: Wax strengths, customers, integration considerations). Free Spend Matters’ news coverage of the deal can be found here and here.

Jason Busch serves as Managing Director of Spend Matters Nexus, a research and advisory group that works with sponsors, CEOs and boards on due diligence, M&A strategy and product strategy. Spend Matters and Spend Matters Nexus are owned by Azul Partners. Disclosure: Azul Partners served as an adviser to Marlin Equity in the Wax-Medius transaction.