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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.

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

Having reached “unicorn” status as of May 2019, Ivalua is no longer a vendor that needs thorough introduction. In fact, the solution provider with European roots now has almost 50% of its the customers and employees based in North America and is likely one of the fastest growing privately held source-to-pay procurement suites in the market.

This is thanks in large part to its engineering approach: Its entire suite was built in-house on a single platform over the last 19 years, placing it in a small group of providers that offer an end-to-end solution on a single technology stack. And the benefits of this philosophy are perhaps nowhere better illustrated than in Ivalua’s supplier management capabilities, which because of the platform’s common data model can capture, manage and integrate not only core supplier information but also the entire lifecycle of supplier activity from a truly 360-degree perspective.

As of Q2 2019, the Spend Matters SolutionMap contains functional and customer satisfaction benchmarks on more than 50 providers within the procurement technology landscape. But where does Ivalua stand out most and help “set the bar” in supplier management, and why should this matter for procurement and finance organizations?

Let’s delve into the SolutionMap benchmark to find out where Ivalua 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.

Q3 2019 Invoice-to-Pay (I2P): Provider Scoring Summary

This SolutionMap scoring summary analyzes a select group of invoice-to-pay solution providers. It is part of our Q3 2019 SolutionMap report series, also featuring spend analytics, sourcing, supplier management, contract management and e-procurement providers. Our Q2 release also features a SolutionMap for procure-to-pay and strategic procurement technology suites.

Q3 2019 Spend Analytics: Provider Scoring Summary

This SolutionMap analyzes a select group of spend analytics providers. It includes coverage of spend analytics capabilities that encourages subscribers to “peel the onion” beyond cleansing, classification, enrichment and reporting capabilities alone. It is part of our Q3 2019 SolutionMap report series, also featuring sourcing, supplier management contract management, e-procurement and invoice-to-pay providers.

Q3 2019 E-Procurement: Provider Scoring Summary

This SolutionMap analyzes a select group of E-Procurement solution providers. It is part of our Q3 2019 SolutionMap report series, also featuring Spend Analytics, Sourcing, Supplier Management, Contract Management and Invoice-to-Pay providers. Our Q3 release also features SolutionMap for Procure-to-Pay and Strategic Procurement Technology suites.

Q3 2019 Procure-to-Pay (P2P): Provider Scoring Summary

The Spend Matters SolutionMap Procure-to-Pay (P2P): Provider Scoring Summary is only available to SolutionMap Members. This SolutionMap analyzes a select group of procure-to-pay solution providers. It is part of our Q3 2019 SolutionMap report series, also featuring spend analytics, sourcing, supplier management, contract management, e-procurement and invoice-to-pay providers.

Q3 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 Q3 2019 SolutionMap report series, also featuring spend analytics, sourcing, contract management, e-procurement and invoice-to-pay providers.

Q3 2019 Strategic Procurement Technologies (Sourcing, Analytics, CLM and SRM): Provider Scoring Summary

This Q3 2019 SolutionMap analyzes a select group of strategic procurement technology suite providers (inclusive of spend analytics, sourcing, supplier management and contract lifecycle management).

Q3 2019 SolutionMap Release Notes: Sourcing, Spend & Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management and Strategic Procurement Technology Suites

This Spend Matters SolutionMap Insider research note provides insight into the Q3 2019 SolutionMap release for Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management, and Strategic Procurement Technologies Suite SolutionMap areas, reviewing the process we follow and highlighting what has changed since the last release.

Within the individual areas covered in this brief, the following providers have been added to the Q3 2019 release:

— K2 Sourcing is a new participant in the Sourcing SolutionMap category.
— Orpheus is a new participant in the Spend & Procurement Analytics SolutionMap category.

Wax Digital has added a new category to its existing participation this quarter: Supplier Relationship Management and Risk.

In addition, 38 new or refreshed customer references (and 76 individual map references) were added in the Strategic Procurement Technology areas for Q3 2019.

The following providers still did not update their scoring based on the new Q2 2019 RFI 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 most of them to participate in upcoming Q4 2019 or Q1 2020 releases.

In Source-to-Pay:
— SAP Ariba, Jaggaer (Indirect, Advantage, and Direct)*

In stand-alone Sourcing:
— Keelvar and Scout RFP

In stand-alone Spend and Procurement Analytics:
— Opera BIQ

In stand-alone Supplier Relationship Management and Risk:
— Aravo and Sourcemap

* As Jaggaer has unified three of its product lines — Jaggaer Indirect, Jaggaer Direct and Jaggaer Advantage — into Jaggaer One, which allows customers and prospects to select the best modules from each offering to fit an organization’s unique needs, Spend Matters has broken out the naming convention for the Jaggaer offerings more specifically for Q3 2019 SolutionMap in the persona ranking graphics as follows:

— Jaggaer One is Jaggaer Sourcing, Jaggaer Supplier Management, Jaggaer Spend Analytics, Jaggaer Contracts+, and Jaggaer eProcurement, and corresponds to what was formerly Jaggaer Indirect.
— Jaggaer One+ is Jaggaer Sourcing+, Jaggaer Supplier Management+, Jaggaer Analytics+, and Jaggaer Contracts, and corresponds to what was formerly Jaggaer Advantage.
— Jaggaer One Direct is Jaggaer Direct Sourcing and Jaggaer Direct Supplier Management and corresponds to what was formerly Jaggaer Direct.

Please note: as none of the Jaggaer solutions have yet been evaluated against Q2 2019 RFI requirements by the Spend Matters analyst team, they are not able to appear in this quarter’s editions of the Provider Scoring Summaries. Please refer to the Q1 editions for their latest scoring.

This SolutionMap Insider research note provides insight into the methodology and additional changes in the Q3 2019 SolutionMap release.

(SolutionMap Insider members: access the Q3 Provider Scoring Summary reports right here.)

Q3 2019 SolutionMap Release Notes: Contingent Workforce & Services (CW/S) Enterprise Technology Solutions — Temp Staffing, Contract Services/Statement of Work (SOW), Direct Sourcing of Workforce/Services

Q3 2019 marks the fifth research cycle for Spend Matters’ Contingent Workforce & Services (CW/S) “enterprise technology” SolutionMap, the sourcing and management of three underlying spend categories: Temp Staffing, Contract Services/Statement of Work and Direct Sourcing of Workforce/Services (formerly Independent Contract Workers, or ICW).

Beginning in Q3, Spend Matters has changed the name of the Independent Contract Workers (ICW) category to Direct Sourcing of Workforce/Services, primarily to express the proper scope of the category’s coverage of those solution providers that enterprises use to source and manage both workers and small services firms in a relatively direct manner. (At the very least, a traditional supplier’s role is more limited and the technology solution enables more direct sourcing and talent management by an end-client.)

The full list of providers in the Q3 2019 CW/S SolutionMap includes:

  • Beeline
  • Coupa
  • Elevated Resources
  • Field Nation
  • Shiftgig
  • Shortlist
  • SirionLabs
  • TalentNet
  • Talmix
  • TalonFMS
  • Upwork Enterprise
  • VectorVMS
  • Vndly
  • WorkMarket (ADP)
Three new providers joined SolutionMap in Q3 for the first time:
  • Elevated Resources — participating in the Temp Staffing category
  • Shiftgig — participating in the Direct Sourcing of Workforce/Services category
  • VectorVMS — participating in the Temp Staffing category
As noted further below, a vendor may participate in a SolutionMap category but may not necessarily appear on the SolutionMap comparative quadrant graphic.

Given Spend Matters’ procurement orientation, we evaluate “enterprise technology” vendors within a source-to-pay (S2P) reference model. In other words, we look at vendors in terms of their capabilities that address some or all enterprise requirements that arise within an S2P lifecycle (i.e., from supplier sourcing to worker or supplier payment).

We have gathered extensive business profile information, have more than 100 active customer survey references and have assigned scores to specific solution capabilities (RFI line items) ranging from well over 100 to about 300, depending upon how many SolutionMap categories a particular vendor participated in.

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).

Q3 2019 SolutionMap Release Notes: E-Procurement, Invoice-to-Pay and Procure-to-Pay

This Spend Matters SolutionMap Insider Release Note provides insight into the Q3 2019 SolutionMap release for E-Procurement, Invoice-to-Pay (I2P) and Procure-to-Pay (P2P), reviewing the process that we follow and highlighting what has changed since the last release.

The E-Procurement, I2P and P2P customer reference set added 19 new individual customer references in Q3. There were no new providers added for Q3, although Zycus has successfully been scored against the new Q2 2019 RFI requirements for the first time.

As Jaggaer has unified three of its product lines — Jaggaer Indirect, Jaggaer Direct and Jaggaer Advantage — into Jaggaer One, which allows customers and prospects to select the best modules from each offering to fit an organization’s unique needs, Spend Matters has broken out the naming convention for the Jaggaer offerings more specifically for Q3 2019 SolutionMap in the persona ranking graphics. This means that in the E-Procurement category this quarter, the solution/product formerly known as Jaggaer Indirect is now listed as: Jaggaer eProcurement.

Please note: as none of the Jaggaer product lines have yet been evaluated against Q2 2019 RFI requirements by the Spend Matters analyst team, they are not able to appear in this quarter’s editions of the Provider Scoring Summaries. Please refer to the Q1 editions for their latest scoring.

Most of the providers participating in the Q3 2019 SolutionMap release for E-Procurement, I2P and P2P will fully update their RFIs in next quarter’s cycle (Q4 2019) and receive updated scoring following the submission and demonstration of new and updated capabilities based on production releases of their platform. (Non-GA capabilities are not considered in SolutionMap scoring.)

This SolutionMap Insider research note provides insight into these and additional changes in the Q3 2019 SolutionMap release.

(SolutionMap Insider members: access the Q3 Provider Scoring Summary reports right here.)