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The Vendorful customer experience: What Makes It Great (Sourcing SolutionMap analysis) - [Member Content]

Ever since the creation of the first e-sourcing solutions, this headline technology area has been plagued by an Achilles’ heel — end-user adoption. Despite the benefits they could provide, e-sourcing tools have historically struggled to be usable, especially by non-power users, thus obscuring their full potential ROI.

The latest generation of e-sourcing providers, however, has learned from the sector’s founders, and many today boast a user-first approach to usability that encompasses even the needs of non-procurement requesters. That’s exactly what Vendorful, a SolutionMap “Customer Leader” in our graphical market comparison of Sourcing vendors, has done with its solution.

Vendorful is a younger sourcing provider founded by insiders and outsiders of the procurement industry. They saw just how difficult it was for clients to manage sourcing, especially IT spending. Vendorful’s founders made the realization that without proper tools, many companies overspend on IT services and solutions.

After developing its solution for IT spending specifically, other companies wanted to deploy its solution for non-IT spend. Vendorful thus began its commercial offering for general-purpose sourcing. Now, it offers core sourcing solutions, including e-RFX and reverse auction functionality.

Customers also noted its sourcing strengths in the recent SolutionMap Spring 2021 launch.

As of Spring 2021, our Spend Matters SolutionMap contains functional and customer satisfaction benchmarks on more than 70 offerings within the procurement technology landscape. But where does Vendorful 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 Vendorful is great, according to customer scores.

“What Makes It Great” is a recurring column that shares insights from our SolutionMap updates for subscribers to SolutionMap Insider content and PRO analysis. Based on our rigorous evaluation process and customer reference reviews, each column 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.