Now, digital B2B lenders can use fast data to scour thousands of individual data points — to instantly create a dynamic credit limit for companies that work on a particular supplier portal but only have a small percentage of receivables running through it. By having an off-platform model, this company can fund as many invoices as they want until they reach their credit limit. Virtually every supplier can be funded — only those in bankruptcy or on government watch lists are ineligible. This new form of B2B lending marries two core competencies.
Geosyntec Consultants, an engineering and consulting firm, needed to upgrade its supplier management system so it could streamline and improve its business. The Florida company works with public and private sector clients across the U.S., Canada, Malaysia and the U.K. It employs more than 1,200 consultants (engineers, scientists, technical personnel) and manages more than 8,300 suppliers, many of which require stringent safety certifications and compliance requirements that come from their clients.
As Geosyntec expanded its practice, it looked for a supplier management solution that could streamline its manual and disjointed processes, all while maintaining needed organizational accountability. Find out what it learned in the process and how it made its choice: AdaptOne.
ConnXus has grown in less than a decade from a specialized supplier diversity compliance tracking service to a notable provider of supplier relationship management solutions.
As Spend Matters’ Q4 2018 Supplier Relationship Management and Risk SolutionMap indicates, ConnXus offers mid- to top-tier functionality for capabilities including supplier performance management, risk management, configurability and services — making it a recommended fit for all five supplier management personas and a Value Leader in two personas: Nimble and Turn-Key. The Mason, Ohio-based solution provider has driven these results primarily by supporting procurement organizations in their efforts to identify, qualify and introduce the right suppliers, including the right diversity suppliers, into global supply chains.
Recently, however, ConnXus expanded the scope of its offering with the introduction of myConnXion, a platform that connects buyers and suppliers into a single network where both sides can create, edit and share their profiles with anyone (even users outside of the network). While myConnXion may appear to be an incremental evolution for ConnXus, filling in some of the core supplier information and master data management functional gaps that handicap it relative to other providers, the new platform is also more than that. Going forward, myConnXion will be the foundation for ConnXus to pursue all future innovations, including ambitions for a global e-sourcing capability and blockchain-based compliance tracking.
This Spend Matter Vendor Snapshot Update reviews ConnXus’ new myConnXion platform and explains why it’s more than just another supplier network concept for procurement organizations looking to tackle supplier diversity tracking. It is an addendum to our previous review and analysis of ConnXus.
The supplier management technology and services market is one of the broadest, most complex and mysterious to those who try to make sense of it — and take advantage of the many solutions that it offers. Spend Matters tracks well over 100 providers in this market, and they fall into more than a dozen individual areas. Some vendors and services firms offer solutions that address multiple components, but not a single provider comes close to offering a comprehensive solution.
This Spend Matters PRO Research brief explains and segments the supplier management market into five solution categories: core supplier process and data enablement; supplier and supply chain risk; community/network; supplier and worker/contractor; and disruptive enablement.
Just this morning Coupa announced it was acquiring Hiperos as a carve-out transaction from Opus, which previously owned the supplier management, compliance and risk management solution provider. This Spend Matters PRO analysis provides background and quick facts on Hiperos. It also offers analysis and insight on what the transaction brings to Coupa from a capability perspective and attempts to answer the question: Why Hiperos?
Subsequent Spend Matters subscription briefs (PRO and SolutionMap Insider) will provide insight and analysis of the transaction by exploring the competitive implications of the acquisition for the supplier management and compliance market, offering additional customer insight and recommendations and providing a “Head-to-Head” analysis of Coupa and Hiperos from a supplier-management capability perspective.
Read this briefing to find out more about what Coupa is getting and possible reasons behind the Hiperos deal.
Business spend management vendor Coupa announced Monday morning that it has acquired Hiperos, a provider of third-party risk management. Coupa bought Hiperos from Opus. Alacra and all other Opus assets were not part of the transaction. The move lets Coupa, which is based in San Mateo, California, add more supplier compliance and risk intelligence insight into spend transactions and put a greater focus on reducing third-party risk. Spend Matters will have updates on the breaking news and an analysis later today.
In Part 1, we introduced you to Wax Digital, a source-to-pay provider from the UK that you may not be familiar with, especially since it has not yet participated in Solution Map (although that changes this quarter). Wax Digital is a provider of note as it is one of the few providers that has a relatively complete, integrated, source-to-pay offering on one code base that is already used globally in over 100 countries. In our last article, we overviewed some of the key parts of Wax Digital’s platform. In this post, we dive into its strengths and weaknesses.
Some vendors prefer to wax poetic. Others prefer to wax digital. One such source-to-pay provider likes waxing digital so much, that it even calls itself Wax Digital. And it is our latest source-to-pay vendor to get the in-depth PRO treatment here on Spend Matters (before its debut in Q4 SolutionMap).
By now you are all familiar with its primary source-to-pay competitors, including SAP Ariba, Coupa, Determine, GEP, iValua, Jaggaer, SynerTrade and Zycus, as they have been covered extensively on PRO and appear in the SPT & S2P solution maps, and while you are quite familiar with the American S2P providers (Ariba, Coupa, Determine, GEP, Jaggaer and Zycus) and now the European S2P providers (iValua and SynerTrade), you're likely not as familiar with their English counterparts, namely Proactis and Wax Digital, as they have not had as much exposure in recent years. And Wax Digital is definitely a provider that should make your familiarization list.
Wax Digital, which has been around for almost two decades, is one of the largest European providers of source-to-pay solutions, with users in over 100 countries around the globe. It is available in 15 languages out of the box and supports all currencies under ISO 4217 for its 250,000+ global users.
Part 1 of this analysis provides a detailed company background and detailed solution overview, as well as a summary recommended fit for when organizations should consider Wax Digital. The remaining parts of this research brief will dive into product strengths and weaknesses, competitor and SWOT analyses, and insider evaluation and selection considerations.
The supplier management technology market is among the most fragmented of those in the procurement technology landscape.
It comprises multiple segments (and sub-segments), and Spend Matters now tracks approximately 50 providers that compete within niche segments of it. One of these providers is AdaptOne, a vendor specializing in supplier information management that perfectly matches Spend Matters’ SolutionMap “Turnkey” persona for supplier management. This Spend Matters PRO report provides facts and expert analysis to help procurement organizations make informed decisions about AdaptOne’s solution — and whether its “turnkey” services-driven approach is right for them.
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 AdaptOne in the procurement, supply chain and finance technology areas. Part 2 covered product strengths and weaknesses. This final installment offers SWOT analysis, explores competitive alternatives to AdaptOne and provides insight into evaluation and selection considerations, including a prioritization/fit checklist.
Many businesses have come around to the idea that sustainability is not just a hashtag or a marketing ploy but something that can help a company advance its business goals. But as organizations dive into all the ways they can save energy and use friendlier materials, they soon realize there are only so many they control. Truly leveraging sustainability requires close collaboration all the way down the supply chain to find mutual incentives for all, according to the latest report by State of Flux, a global procurement and supply chain consultancy.
Procurement has made significant strides in supporting supplier relationship management initiatives, but poor investment in technology could limit the potential benefits those programs can deliver in the years to come, according to State of Flux, a consulting firm that specializes in SRM and which held its annual SRM summit in Chicago on Oct. 23. Over the decade that State of Flux has monitored SRM maturity, procurement organizations have made considerable improvements in several areas — but not in adopting and using technology dedicated to SRM.
Just when you thought the contract lifecycle management (CLM) software market fit within a neatly defined 2x2 graph, along comes a vendor that breaks the mold, offering top functional capabilities while also redefining exactly what a CLM provider is capable of.
Who is this vendor, you ask?
SirionLabs.
Although it is fully capable of competing in the “traditional” CLM sector, SirionLabs is a powerful, specialized CLM solution that organizations have used primarily to manage and optimize the performance of large, complex, often multi-year services contracts. The solution combines core CLM components with added supplier management capabilities, like performance management, relationship management and risk management. And it works for contracts of all shapes and sizes, delivering Value Leader (upper right quadrant) performances across every CLM SolutionMap buying persona.
As of Q3 2018, Spend Matters SolutionMap consists of functional and customer satisfaction benchmarks on more than 50 vendors within the procurement, finance and legal software markets. To date, Spend Matters’ analysts have evaluated 13 providers in the contract lifecycle management software segment, including SirionLabs. But where does SirionLabs stand out most, and why should this matter to procurement and legal organizations? Let’s dive into the CLM SolutionMap benchmark to find out.
“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.
