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Serex: Vendor Analysis (Part 3) — Competitive & Summary Analysis

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The market for strategic sourcing technology is highly competitive. Procurement organizations have many choices within a fragmented landscape. As Spend Matters observes in our 2017 report, Landscape Definition and Overview: Sourcing, Contracting and Supplier Management, procurement organizations can chose from four different classes of solution: procurement technology suites, which offer either source-to-contract enablement or broader source-to-pay capability; standalone sourcing solutions; direct materials-centric solutions; and sourcing optimization providers.

Within our market segmentation, Spend Matters classifies Serex, which offers a reverse auction solution, as offering technology that falls within a sub-segment of the standalone sourcing solution area.

This third and final installment of this Spend Matters Vendor Snapshot covering Serex provides an objective SWOT analysis of the provider and offers a competitive segmentation analysis and comparison. It also includes recommended shortlist candidates as alternative vendors to Serex and offers provider selection guidance. Finally, it provides summary analysis and recommendations for companies considering the vendor. Part 1 provided an in-depth look at Serex as a firm and its specific solutions, and Part 2 gave a detailed analysis of solution strengths and weaknesses, as well as a review of the product’s user interface and user experience.

Serex: Vendor Analysis (Part 2) — Product Strengths & Weaknesses

RFP

Procurement groups often emphasize different strategic sourcing technology requirements based on the needs of the organization. For some, capturing and automating a basic RFX process through the most easy-to-use technology is a top priority. For others, advanced bidding/auction format and highly detailed cost breakdown capabilities take center stage. Still for others, the most highly sought after capabilities are those that allow them to reimagine the strategic sourcing process entirely by fully considering both external (i.e., supplier, supply market and supply chain) and internal constraints. Yet other companies just want a reverse auction solution that maximizes the efficiency and speed of their teams for simple (“three bids in a box”) and complex (thousands of line items) bids alike. It is this latter procurement organizational profile that is likely to most appreciate the e-sourcing capability that Serex, a recent entrant into the procurement technology market, provides.

This Spend Matters PRO Vendor Snapshot explores Serex’s strengths and weaknesses, providing facts and expert analysis to help procurement organizations decide whether they should consider using as a core strategic sourcing technology. The first installment of our analysis provided a company and solution overview and a recommend fit list of criteria for firms considering Serex. Part 3 will offer a SWOT analysis, user selection guide, competitive alternatives and additional evaluation and selection considerations.

Serex: Vendor Analysis (Part 1) — Background & Solution Overview

trade

Serex is a relatively new (and still nascent) entrant in the strategic sourcing technology market. Serex is one of over more than 30 vendors that Spend Matters tracks that offer capability in this area. However, it is not a new firm. Serex was founded in 1993 and began to focus on supporting CRM and marketing automation for customers as its core business. In fact, it developed strategic sourcing technology at the request of one of its sales/marketing automation clients, an organization that had tried more than a dozen different e-sourcing solutions and could not find one that met its needs. Serex took up the challenge to architect a new sourcing approach and its current solution, which addresses only part of the requirements of end-to-end of strategic sourcing technology today, offers a different take on enabling reverse auctions in a highly efficient manner for buyers and suppliers alike.

This Spend Matters PRO Vendor Snapshot provides facts and expert analysis to help procurement organizations make informed decisions about Sexex as a potential provider of sourcing technology capabilities. Part 1 of our analysis provides a company background and detailed solution overview, as well as a summary recommended fit suggestion for when organizations should consider Serex in the procurement technology area. The remaining parts of this research brief will cover product strengths and weaknesses, competitor and SWOT analyses, and insider evaluation and selection considerations.