Supplier Management Content

Avetta names new CEO to lead supply chain risk firm

Avetta has named a new CEO as the supply chain risk management firm continues to evolve after its acquisition of Browz this year. The Utah-based provider named Arshad Matin as president and chief executive officer, effective immediately, according to a press release issued Monday. Matin replaces John Herr, who is stepping down and will be an adviser to the board to ensure a smooth transition, the company said.

APEX Analytix: What Makes It Great (Supplier Relationship Management and Risk SolutionMap Analysis)

In a market facing increasing consolidation each year, APEX Analytix stands out as a best-of-breed provider that excels in areas where suite providers merely meet the benchmark (or fall below it).

Results from Spend Matters’ SolutionMap vividly illustrate the gaps in the category of Supplier Relationship Management and Risk. While some larger providers post strong scores in general supplier information management, on-boarding or platform-related SXM capabilities (e.g., workflow management), few deliver the same consistently benchmark-topping scores that APEX Analytix does in its specialty areas.

The Greensboro, North Carolina-based provider has long been known for its broader portfolio of recovery audit, overpayment and self-audit software. But where APEX Analytix leads with its specialized supplier management solution — especially with granular supplier information and risk management capabilities — makes clear that specialization can yield considerable functional depth where end-to-end solutions sacrifice in pursuit of breadth.

Where does the provider stand out most, and why should this matter for procurement and finance organizations? Let’s delve into the SolutionMap benchmark to find out where APEX Analytix 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.

‘What other needs do you have?’ — Lessons from ConnXus, a supplier relationship expert

Supplier relationship management (SRM) has grown from just sourcing the best deal to really evaluating suppliers for diversity, ability to innovate, value generation and their risk.

In this series on SRM, we’ve discussed how the development of supplier diversity has improved supplier management overall, and we’ve explored how companies can meet their goals to have a robust supply chain that’s diverse.

Businesses now know to get their spend data in order and should know how to measure the impact of that spend. They should be able to develop suppliers and drive innovation. Responsible businesses can protect their brand reputation by assessing their main suppliers (tier 1) and those deeper in the supply chain, as well as having a plan to mitigate risks, like unethical sourcing, forced labor in the supply chain or poor performance in the past. But, it’s also clear that lacking in supplier diversity or being weak in supplier information management (SIM) are risks themselves.

To learn more about these issues, we talked with SRM expert Daryl Hammett, the general manager of ConnXus, a provider that connects buyers and qualified suppliers.

Q3 2019 SolutionMap Release Notes: Source-to-Pay Suites

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).

Sponsored Article

5 benefits of multi-tier supply chain transparency

Consumers expect brands and retailers to know much more about their products than in the past, such as where it was sourced, how it was manufactured, who was involved or what countries it passed through on its journey to the store. All this requires a deeper understanding of the supply chain.

While multi-tier supply chain transparency is challenging to achieve, it can reap serious benefits for businesses that invest the time and resources. Taking progressive steps to achieve visibility at multiple tiers can benefit businesses in five ways.

How to reach your goals on supplier diversity and supplier management

When a company considers how to improve its supplier diversity, it can do so along with improving its supplier management overall. But how does a business go from getting started to reaching its goals with suppliers?

In the first article in this series, we showed that businesses starting this process don’t have to choose between supplier diversity and supplier management. You should do both at the same time.

But now, let’s consider how to execute a plan to build relationships with suppliers and reach your business goals. You’ll need to understand three areas of SRM, or supplier relationship management: how your suppliers align with your business goals, how you manage supplier risk and how you address supplier development.

Ivalua: Vendor Snapshot (Part 4) — Product Strengths [PRO]

Global Risk Management Solutions

Anything Ivalua still lacks in global brand and market awareness along with sales/marketing infrastructure and prowess, it makes up for by delivering a source-to-pay platform designed to emphasize functional depth, suite-based capabilities and industry-specific enablement scenarios in the private and public sector. Ivalua delivers a no-compromise set of capabilities and an underlying platform that is most likely to appeal to procurement and IT organizations that want greater flexibility in executing a procurement technology architecture and strategy than what is offered by the majority of suite-based solutions on the market today. Ivalua is generally at the front of the pack in Spend Matters’ “configurator” persona of just about every SolutionMap we look at for our 2019 Q2 results — and the lead dog if the pack includes only the suite vendors.

If you've already read Part 1 of our updated, seven-part vendor snapshot on Ivalua (which includes a detailed company and solution overview), then you know that you're either going to be attracted to the depth, breadth and configurability of the solution — or perhaps overwhelmed by it if you're new to the advanced sourcing and procurement game. With the massive flexibility that comes with massive configurability, there is also a non-trivial degree of configuration settings to pay attention to. (See Part 2 for an upstream solution overview and Part 3 for details on the downstream capabilities.)

In this Part 4 edition of the vendor snapshot, we are going to dive deep into Ivalua's product strengths, providing facts and expert analysis to help a procurement organization decide whether they should shortlist the vendor. Of course, it’s best to read the SolutionMap analysis for all the providers in question. For example, an organization that is putting Ivalua head-to-head with Coupa should compare and contrast what we say here versus what we say in Part 2 of our Coupa vendor snapshot because near-equal scores in SolutionMap do not imply near equal capability in all areas, and definitely not in the areas that might matter to your organization the most.

Supplier diversity and supplier management: Don’t choose, do both

Supplier diversity connects to many trends occurring in supplier relationship management (SRM) these days, including developments like the rise of digital transformation, supplier networks and supplier collaboration.

As a business trying to start the supplier diversity process, it can be a daunting task to wade through-diverse supplier certifications and classifications to help you find a certified minority-, woman-, veteran- or LGBT-owned vendor for your company. But it can be worth it.

The methods that have made supplier diversity successful over the years now apply to other areas of procurement as well. Find out how.

Q2 2019 SolutionMap: Sourcing, Analytics, SRM and CLM software providers’ scoring summary reports now available

As part of the Q2 2019 SolutionMap release, the Sourcing, Spend & Procurement Analytics, Supplier Relationship Management (SRM) & Risk and Contract Lifecycle Management (CLM) Provider Scoring Summary reports are available today on SolutionMap Insider.

Q2 2019 Supplier Relationship Management and Risk (SRM): Provider Scoring Summary

This SolutionMap scoring summary analyzes a select group of supplier management (SXM) providers. It includes coverage of supplier information management (SIM), supplier master data management (MDM), supplier performance management and broader initiative management (e.g., risk, third-party management) capabilities. It is part of our Q2 2019 SolutionMap report series, also featuring spend analytics, sourcing, contract management, e-procurement and invoice-to-pay providers.

Mastercard Track: A Gateway to a New Kind of B2B Ecosystem (Part 2) — SWOT Analysis and Market Implications [PRO]

Over a decade ago, American Express led the payments way in making innovative investments aimed at procurement organizations and their suppliers, primarily through its venture and partnership arms. (Remember MarketMile/Ketera, anyone?) But more recently, it appears that Mastercard has picked up the B2B innovation mantle, opting to organically build a solution aimed at buyers and suppliers with procurement front and center in the business case crosshairs. This new solution, Track, surprised us in multiple ways (click here for an introduction to Track), especially for its audacious supplier network vision (and we might add also for what it is not doing, at least not yet).

Is the tail of Mastercard’s new supplier network offering — comprised of a trade directory, supply risk monitoring capability and payment ledger — wagging the payments dog? The answer might surprise you. This purebred procurement solution can hunt without even hinting at the need to enable a virtual or corporate card swipe.

Indeed, with its new Track solution, Mastercard appears quite serious about the procurement and supplier management market beyond just finding creative ways of leveraging its rails to enable payments. With this new product release, Mastercard stands in contrast to American Express, among others, which still appears to be taking the same old B2B payments and financing pooch out for a walk, albeit with an updated veneer for the digital working capital era.

But before we drown in our doggy metaphors, let’s analyze what’s good — and what’s not so good — about Mastercard’s first generation Track release and what it means for procurement organizations, supporting services providers (e.g., consultancies) and the procurement technology sector as a whole.