Analytics8 SpendView: Vendor Analysis (Part 3) — Summary Analysis & Recommendations

Procurement organizations have numerous options to enable visibility into spend today. They can engage a provider that provides spend visibility on a managed services basis. They can work with vendors to take the guts (data acquisition, cleansing, classification, analytics, etc.) in-house and take on their own stewardship of the data. Or, they can leverage off-the-shelf business intelligence (BI) components to enable an analytics front-end and then solve the data problem separately (e.g., getting line-level invoice data from suppliers or supplier networks). Analytics8, a new provider on the spend analysis scene, represents a hybrid of these approaches, using a customized version of Qlik as a BI front-end but enabling organizations to take control of the data management process on their own if they desire.

This final installment of our multipart Spend Matters PRO Vendor Snapshot series covering Analytics8 SpendView offers a competitive analysis and comparison with other vendors in the spend analytics market companies may wish to shortlist. It also includes a user selection guide, user interface and user experience (UI/UX) analysis and summary evaluation and selection considerations. Part 1 and Part 2 of this PRO research series provide a company and deep dive solution overview, a SWOT analysis, product strengths and weaknesses and a recommended fit analysis for what types of organizations should consider Analytics8 SpendView.

Analytics8 SpendView: Vendor Analysis (Part 2) — Product Strengths and Weaknesses

spend analytics

Since Zycus pioneered spend classification technology less than two decades ago, the spend — and now broader “supply” — analytics market has transformed considerably. It used to be difficult to decouple spend visibility offerings from vendors: all that organizations could purchase was integrated data acquisition, classification, enrichment, visualization and analytics capability from a single vendor. But now it’s possible to get different elements from different providers — and even to work with new vendors like Analytics8 that have built their solutions around existing business intelligence ecosystems such as Qlikview and have designed their capabilities from the ground up to enable “self-service” for classification and visualization. Moreover, these newer-generation solutions often do not come with a high price tag, and they can bet set up in weeks, not months, while allowing frequent data refreshes at little or no additional cost to an organization.

This Spend Matters PRO vendor snapshot explores Analytics8 strengths and weaknesses in the spend analysis area, providing facts and expert analysis to help procurement organizations decide if they should shortlist the vendor as a potential provider. Part 1 of our analysis comprised a company and detailed solution overview and a SWOT analysis, as well as a summary recommended fit suggestion for what types of organizations should consider Analytics8. The remaining parts of this multipart series will offer a user selection guide, user interface (UI/UX) analysis, competitive alternatives and evaluation and selection considerations.

Analytics8 SpendView: Vendor Analysis (Part 1) — Background and Solution Overview

data analytics

There’s a new spend analytics vendor in town: Analytics8. Analytics8 recently introduced its SpendView product, an offering designed to bring modern, easy-to-use spend analysis capability to any organization with more than $10 million in annual spend at a reasonable price tag, but with functionality that is sufficiently deep to satisfy many of the needs of larger procurement organizations with unique requirements. Incidentally, two members of the senior team at Analytics8 come from Spend Radar (acquired by SciQuest) and the broader organization brings more than a decade of experience in big data analytics.

This Spend Matters PRO vendor profile provides a brief history of the spend analysis market in recent years (and how Analytics8 fits into it) and expert analysis to help organizations determine if the Analytics8 SpendView solution is a fit for their requirements. This multipart research brief comprises a company and solution overview, company-level SWOT analysis, product strengths and weaknesses, competitive alternatives, a user selection guide and insider evaluation and selection considerations.