Sourcing Content

Customer reviews for EC Sourcing are in the new SolutionMap Customer Insights report

This week’s SolutionMap Customer Insights report focuses on customer reviews for EC Sourcing, a veteran of managing sourcing events and one of a select group of technology providers targeting the middle market with an e-sourcing platform.

The applicable SolutionMap category for this report is in our ranking of Sourcing vendors. SolutionMap Insider members can read about EC Sourcing 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.

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Procurement Leaders: Hit the Refresh Button in 2020 at SIG’s Procurement Technology Summit 

They say April showers bring May flowers, but I wanted to let you know 2020 will be different. This April 20 to 22 in Championsgate, Florida, SIG’s Procurement Technology Summit will bring you an event you’ve never seen before that will pay dividends throughout the year (not just May).

SIG is committed to staying at the forefront of all the forces impacting our industry. It was from our unique sightline into sourcing we recognized that procurement technologies advance so quickly that many people simply aren’t able to stay in the know. Awash in information, many of us are uncertain which digital technologies deliver and which are hype. While none of us can predict the future, we can be ready for it. That’s why we’re placing digital procurement and emerging technologies center stage for three days.

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A Holiday Gift Your Team Will (Actually) Appreciate

This time of year, giving presents to your team members and colleagues can be awkward no matter how well you know them. Look beyond the restaurant gift cards, trending gadgets and dried-out fruitcakes to a gift that will deliver an actual return on investment — an industry-recognized certification. By coming together in a virtual classroom, you’ll avoid those awkward, gift-giving faux pas and delight your team with an investment in their professional development to sharpen their skills, boost performance and credibility with both stakeholders and management, and contribute to the overall success of the organization.

Scanmarket CEO Betina Nygaard: ‘The e-sourcing process will change completely’

Many procurement technology firms have a short history before flaming out or being acquired, but one stalwart firm has hit a rare milestone — and has secured a strong future for itself. Scanmarket, the Denmark-based provider of strategic sourcing software, turned 20 this year — and made sure that the family business will carry on with the same mission. To learn more about what it takes to run a long-standing best-of-breed sourcing business, we talked to Scanmarket CEO Betina Nygaard for her insights about the past and the future of e-sourcing. "I think the e-sourcing process will change completely," she said.

AI can drive better supplier negotiations with faster outcomes

global trade

Today, most sourcing teams ask for quotes by emailing one spreadsheet to many suppliers and re-assembling the resulting chaos in a pivot table. Some technologies have helped digitize the process, but the basic information included remains the same. Companies ask for quotes, and suppliers send what they believe to be their best initial offer.

To find out more about how technology is improving supplier negotiations, we talked to Edmund Zagorin, the CEO of Bid Ops, a Spend Matters Future 5 award-winning company that offers a cloud-based sourcing enablement tool. Bid Ops describes its platform as the first AI solution for automating sourcing negotiations using adaptive target pricing, or “Willingness to Discount” formula, as they call it. Find out more in this Q&A.

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 Sourcing: Provider Scoring Summary

This SolutionMap analyzes a select group of sourcing providers. It is part of our Q4 2019 SolutionMap report series, also featuring spend analytics, contract management, supplier relationship management and risk (SRM), e-procurement and invoice-to-pay providers. SolutionMap also features procure-to-pay and strategic procurement technology suites.

Q4 2019 Source-to-Pay (S2P): Provider Scoring Summary

This SolutionMap analyzes a select group of source-to-pay solution providers. It is part of our Q4 2019 SolutionMap report series, also featuring spend analytics, sourcing, supplier management, contract management, e-procurement and invoice-to-pay providers. Our Q4 release also features SolutionMaps for Strategic Procurement Technology suites.

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.)

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

This week’s SolutionMap Customer Insights report focuses on customer reviews for Bonfire, a cloud-based provider of sourcing whose offering is known for its ease of use.

The applicable SolutionMap category for this report is in Sourcing. SolutionMap Insider members can read about Bonfire 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.

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.