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SolutionMap: 59 procurement software companies ranked (Q4 2019 Update)

Spend Matters today released its Q4 2019 SolutionMap, ranking 59 procurement software companies across 12 solution categories, including E-Procurement, Sourcing, Spend Analytics, Supplier Relationship Management, Contract Lifecycle Management and Contingent Workforce & Services. Click on this article to see which new providers joined the rankings this quarter — and to see how to access the rankings for free!

Customer reviews for Bonfire are in the new SolutionMap Customer Insights report

This week’s SolutionMap Customer Insights report focuses on customer reviews for Bonfire, a cloud-based provider of sourcing whose offering is known for its ease of use.

The applicable SolutionMap category for this report is in Sourcing. SolutionMap Insider members can read about Bonfire in our latest report.

In each Customer Insights report, we provide a one-page summary of details from the SolutionMap peer review process. It includes ratings on how well the vendor meets its customers' expectations, three key differentiators for the vendor and a list of quotes from customers about the vendor’s greatest strengths.

Rob Handfield interviews Pierre Mitchell: What’s on the mind of CPOs in 2019?

For the equivalent of a fireside chat between two of the procurement and supply chain industry's most respected figures, you've come to the right place — look no further than this video discussion between Dr. Rob Handfield and Pierre Mitchell, tackling the question: What's on the mind of chief procurement officers in 2019?

Q&A with new Jaggaer CEO (Part 2): Merging its history and making a mark on the future

“Jaggaer has a wealth of information,” said new Jaggaer CEO Jim Bureau. “Over the past 25 years, we’ve gathered more and more data to build intelligence upon, and it’s incumbent upon us to be able to tap into that information in a meaningful way so that we securely provide appropriate instructions to our customers to enable them to be proactive with it.”

In a two-part Q&A with Spend Matters Founder Jason Busch, Bureau outlined the suite provider’s plans after three big changes this year: all of its solutions are now on a single platform called Jaggaer One, it got a new owner over the summer and the change in leadership a few weeks ago that elevated Bureau.

Today, Bureau discusses Jaggaer’s partner network and looks further into the company’s future to discuss what its products will look like and what the company hopes to accomplish.

Medius to buy Wax Digital, giving the AP automation expert full source-to-pay prowess

AP automation provider Medius today announced that it is buying Wax Digital, the UK-based suite provider of source-to-pay capabilities.

Medius, which is based in Sweden, sees the deal as a chance to allow its "current and future customers to generate increased automation, visibility and control across the entire purchasing process.”

Read more about the deal and how it reshapes the procurement technology market.

Q&A with new Jaggaer CEO: ‘Our vision and passion … it’s around the customer experience’

The global suite provider Jaggaer has been undergoing a lot of changes this year — converging its solutions on a single platform called Jaggaer One, getting a new owner this summer and seeing a change in leadership a few weeks ago.

To learn more about these changes, Spend Matters Founder Jason Busch talked with Jaggaer’s new CEO, Jim Bureau, who has been with the company a little over two years and most recently was executive vice president.

Tech selection Q&A: ‘I was like the most hated guy in the office for a while’

Tech selection requires evaluating a lot of procurement software vendors before making a choice, and our coverage typically focuses on the early part of the process to help companies buy a solution that’s the right fit for their needs. But we wanted to talk with a company well after its tech selection to gain insights on the process.

The strategic business enabler Tecom Group and its parent company, Dubai Holding, have gone through two rounds of tech selection to find a spend analytics firm to help them analyze high value transactions, find common spend areas, save money and add visibility for new business strategies.

To find out more about the tech selection process and its results, we did a Q&A with Cory Thwaites, Tecom’s executive director of procurement, about his efforts to bring in a spend analytics firm.

“I was like the most hated guy in the office for a while,” Thwaites said about trying to convince the staff that Tecom needed to know more about its spend.

He said that all changed once his team started seeing the dashboards that showed the actual state of Tecom’s spend.

Q&A: Keith Hausmann on joining Globality: ‘This is what I’d been looking for’

Globality, an artificial intelligence-powered platform that facilitates the efficient and effective buying and selling of enterprise services, hired a new chief revenue officer this fall, and we caught up with Keith Hausmann about his role as the new leader of business development and sales for the rapidly growing company.

Hausmann started as the CRO in September after years at Accenture, where he led supply chain and procurement business process optimization and built a technology ecosystem network.

In his new role at Globality, his focus is on leveraging AI to help clients with the sourcing of high-value B2B services, including marketing, consulting, technology, legal and more, to create a new ecosystem for global trade.

"This is what I'd been looking for,” Hausmann said of Globality’s mission.

This week, Spend Matters Nexus starts with a bang! Thank you, Workday and Scout RFP

Today was supposed to end a relaxed week, with two days of PTO for a variety of family activities. Instead, the week went wild — when Workday caught everyone slightly off-guard Monday as it announced that it would acquire Scout RFP.

That news launched a flurry of activity here, because I love real-time coverage of procurement sector M&A.

And with the investment-focused Spend Matters Nexus officially launching the same day as that breaking news, the timing, except for my scuttled plans to relax a bit more than usual, could not have been more perfect. This week I also ended up having some meetings with clients. And the lessons from the Workday and Scout news have resonated in many of the meetings. (See our Nexus coverage from this week that led to the insights.)

CPO Masters of Complexity (Part 1)

It sure seems like most everyone’s life is getting more complex. When I casually ask friends how they’re doing, the response is usually something about being ridiculously busy and barely being able to keep their head above water. In this age of constant connectivity, rampant over-scheduling at work and home, and constant barrage of information, complexity seems like the new norm.

The same is true for chief procurement officers (CPOs). According to our eighth annual “Global Chief Procurement Officer Survey,” CPOs largely see procurement-related risk on the rise — nearly 60% of the 481 respondents indicated that risk has risen either significantly (19%) or somewhat (42%). This is part of a broader theme of increased complexity that came out in the survey findings, where we profile complexity in four main areas: external complexity (headwinds coming from outside of the four walls of procurement), internal complexity (challenges of managing internal relationships and alignment with business objectives), talent complexity (building effective procurement teams and operating models), and digital complexity (defining and executing on digital strategies that are aligned with broader digital transformation efforts). In this post, I will focus on the first two areas of complexity. A subsequent post will discuss the last two areas.

Workday to acquire Scout RFP for $540 million in cash

Earlier this afternoon, Workday announced its intent to acquire Scout RFP, a sourcing technology provider, for $540 million in cash. Scout RFP was a Workday Ventures portfolio company and Workday partner previously. In a Workday blog, the HR and ERP provider notes that Scout RFP’s “more than 160 employees across North America and Europe will be joining Workday.”

In the press release announcing the transaction, Workday suggests that “with Scout RFP, Workday will provide organizations a comprehensive source-to-pay solution with a best-in-class strategic sourcing offering to transform the procurement organization and deliver better business outcomes, including reduction in spend, greater policy compliance, and maximized engagement across key stakeholders.”

SIG dispatch: Leasing Spend — The Hidden Double Digit (millions) Category Savings Opportunity! (Part 2)

contract

I wanted to continue my SIG post from the other day that looked at lease spend and why it’s gaining importance. In recent years, lease spending has come under the microscope because accounting rules now require publicly held companies to disclose their lease spend on their balance sheets. Private companies and government agencies will have to do the same eventually.

The foundational piece of effective leasing spend management is assembling all that data to enable the proper accounting treatment for leases. This also paves the foundation for better visibility and control of leasing spend as well (to learn more about the basics, a recent Spend Matters’ article looked at why lease spend is poorly managed).

But visibility is different from impact. Once procurement has helped finance properly account for new financial reporting requirements, there’s an opportunity to drive lease savings as well.

So let’s look at where the value and savings can come from.